LedgerPay, a Quisitive Technology Solutions, Inc. (“Quisitive” or the “Company”) Product Company (TSXV:QUIS) (OTC:QUISF) and modern payment processing platform, today announced a strategic partnership and software licensing agreement (the “Agreement”) with Rev19, a merchant services and financial technology company. Terms of the Agreement include a software license as well as annual license support and maintenance, and annual production support services.
Under the terms of the Agreement, Rev19 is licensing LedgerPay’s payment processing and payment tokenization platform, leveraging the latest technology to provide added value and insights to its merchant base. The capabilities provided by LedgerPay’s product suite empower Rev19’s merchants to enjoy best-in-class performance with better control of their financial cost structure due to its cloud-enabled architecture.
LedgerPay empowers Rev19 to connect their merchants with consumer insights previously unavailable, offering merchants the ability to provide customers with improved experiences in stores and restaurants.
“In a highly tumultuous retail and services climate, brick-and-mortar merchants are clamoring for the ability to provide highly reliable and cost-effective payment processing offerings to establish and grow loyalty with their customers,” said Scotty Perkins, SVP of Product Innovation. “This partnership puts the infrastructure in place for Rev19 to fill that need by processing all the key types of electronic payments directly to the card associations at any scale.”
“Our mission at Rev19 is to transform the payments industry into a transparent, service-centric space that advances the growth of individual businesses,” said Corey Young, CEO and Managing Partner, Rev19. “By partnering with LedgerPay, we are now at the cutting edge of innovation, leveraging their technology to accelerate that mission by not only giving customers better control of cost, but providing industry-unique, enriched value-added data services.”
“LedgerPay and Rev19 share similar missions—to transform the payments environment to benefit brick and mortar merchants and their customers,” said Quisitive CEO, Mike Reinhart. “This Agreement is pivotal for not only activating, but accelerating, that mission. The capabilities LedgerPay brings forth to Rev19 puts them at the cutting edge of innovation, bringing new efficiencies and value to their customer base. The commercial value of this Agreement provides return on our initial product development investment, is expected to contribute to the profit of the Company and meaningful continued investment in LedgerPay product development.”