TORONTO, Nov. 01, 2022 (GLOBE NEWSWIRE) — Quisitive Technology Solutions, Inc. (“Quisitive” or the “Company”) (TSXV: QUIS, OTCQX: QUISF), a premier Microsoft solutions provider and payments solutions provider, announced it is rebranding its cloud-enabled payments solution platform, formerly known as LedgerPay, as PayiQ.
Quisitive has unveiled a new name and logo for its payment processing and Payments Intelligence™ platform. As the Company progresses towards full commercialization of the platform, the new brand identity defines PayiQ as a leading innovator in the payments space. The brand evokes intelligence and innovation, bringing to life the vision for Quisitive’s cloud-enabled payments solution.
Simultaneous with the brand launch, Quisitive has developed a new website pay-iq.com which details the platform’s value for merchants and resellers alike. PayiQ’s cloud-enabled architecture allows for greater value by developing and deploying innovative payments solutions that remove friction and enable unique data insights for consumer engagement.
Quisitive’s merchant services group, BankCard USA, is a critical component of the Quisitive Payments Solutions vision. The Company will integrate BankCard USA employees into the Quisitive umbrella as Quisitive team members. Following these integration efforts and slated for summer 2023, BankCard USA will then transition its go-to-market service offerings to the PayiQ brand, completing the full suite of payments solutions delivered to the market under the PayiQ name.
Jana Schmidt, President of Quisitive Global Payments Solutions, said of the rebrand, “The transition to the PayiQ brand is well aligned to our go-to-market strategy and plans for acceleration in 2023. The name and the brand imagery evoke the energy this solution is bringing to the industry and is synergistic with the Quisitive brand.”
Quisitive (TSXV: QUIS, OTCQX: QUISF) is a premier, global Microsoft partner that harnesses the Microsoft cloud platform and complementary technologies, including custom solutions and first-party offerings, to generate transformational impact for enterprise customers. Our Cloud Solutions business focuses on helping enterprises move, operate, and innovate in the three Microsoft clouds. Our Payments Solutions division leverages the PayiQ platform powered by Microsoft Azure to transform the payment processing industry into an entirely new source of customer engagement and consumer value. Quisitive serves clients globally from seventeen employee hubs across the world. For more information, visit www.Quisitive.com and follow @BeQuisitive.
Quisitive Investor Contact
Matt Glover and John Yi
Gateway Investor Relations
Cautionary Note Regarding Forward Looking Information
This news release contains certain “forward‐looking information” and “forward‐looking statements” (collectively, “forward‐ looking statements”) within the meaning of applicable Canadian securities legislation regarding Quisitive and its business. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward‐looking statements. Forward‐ looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking statements. These forward-looking statements include, but are not limited to, statements relating to: the full commercialization and success of PayiQ, the integration of BankCard USA employees into Quisitive, and the transition of BankCard USA’s go-to-market service offerings to the PayiQ brand. The risks and uncertainties that may affect forward-looking statements, or the material factors or assumptions used to develop such forward-looking information, are described under the heading “Risks Factors” in the Company’s annual information form dated June 23, 2022, which are available under the Company’s issuer profile on SEDAR at www.sedar.com. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
About the Customer
A shoe manufacturer and distributor in Colorado has distinguished themselves by placing comfort first with nontraditional looks. Since 2002, they have delivered shoes to over 90 countries, expanding their warehouses and retail store locations to keep up with growing worldwide consumer demand. In March, as a response to COVID-19, they launched a donation of shoes to healthcare workers across the globe that has now reached close to one million pairs of shoes.
The shoe distributor had been using legacy on-premise phone system equipment to manage their global call center including customer service support lines, wholesale support for retail stores distribution and support for point of sales. The platform was difficult to maintain across their worldwide locations, especially as the company was experiencing an increase in calls, which challenged the aging platform. The legacy equipment support was being outsourced to a third-party vendor as their employees did not have the hands-on experience to support the system themselves.
The company’s reliance on this vulnerable equipment for operational communication posed a major risk for the organization. When components in the hardware failed, it created an outage that was time-consuming to get back up and running. The lack of consistency in this legacy system was also hurting their operational performance. In addition, they did not have system access to make administrative changes, making it harder to assign and retire phone numbers when onboarding and offboarding employees at the call centers.
Quisitive conducted a phone system assessment to evaluate their legacy telephone environment. This created a baseline of what was actively in use from the previous system and what needed to be recreated in a new environment. Quisitive proposed a solution leveraging Teams Voice, a tool the company already owned but were not using. In order to provide quicker execution, Quisitive duplicated their legacy workloads in their Teams environment, rather than revamping their processes. Teams Voice provided stability, lower maintenance and overhead costs and continuous patch updates to provide future improvements.
Quisitive executed a phased deployment plan for locations in North America, Europe, and Asia. Their existing phone numbers were ported to the Microsoft phone system and activated in Teams Voice. In regions where number porting was not available, Quisitive implemented Session Border Controllers and Teams Direct Routing to provide calling services to Teams users through in-country telephone providers.
Quisitive also configured Teams-based auto attendants and call queues to support their US and international customer service and support lines to duplicate previous call center functionality. The use of Teams auto attendants and call queues provided the customer with multiple call flow options to meet their broad needs.
Their regional IT staff was trained by Quisitive to fully support and maintain their new phone system without being dependent on outside assistance.
In addition, Quisitive helped create a global IT support desk to help them expand. Quisitive also developed a plan to launch Teams Voice for more employees in different regions utilizing third-party vendors to coordinate work in various languages across multiple time zones.
The company has improved its remote employees’ access to communication with cloud-based Teams while ensuring security through inherited Microsoft 365 security and compliance.
Teams Voice provided the global shoe distributor:
- Improved remote work reliability and security with a cloud-based solution
- Consistent performance of business operations
- Reduced time spent on administrative work and ongoing maintenance patches
- Ability to provide service-level agreement (SLA) for call quality and availability
- Centralized technical knowledge for phone system support and maintenance
TORONTO, June 23, 2022 (GLOBE NEWSWIRE) — Quisitive Technology Solutions Inc. (“Quisitive” or the “Company”) (TSXV: QUIS, OTCQX: QUISF), a premier Microsoft solutions and payment solutions provider, today announced that it has officially received Visa certification to process credit and debit payments through its LedgerPay platform.
Quisitive has successfully completed the certification process for its LedgerPay direct payment processing platform on the Visa network. After finalizing the configuration and installation of Visa’s hardware in April 2022 and conducting joint certification tests, Quisitive is now approved to process transactions through Visa.
Following the successful closing of the Company’s United States bank sponsorship with The Bancorp, the Canadian bank sponsorship with Peoples Trust Company, as well as the previously announced Mastercard Certification, the completion of the Visa certification milestone expands the Company’s network and positions the Company to begin to onboard merchants to LedgerPay. The Company is in the process of completing additional certifications with American Express and Discover. Additionally, onboarding for customer one to the LedgerPay platform is currently underway and is expected to be completed in Q3, 2022.
“Today represents a key milestone by our LedgerPay team and takes us one step closer to commercial utilization of the LedgerPay platform and our innovative Payments Intelligence® solution,” said Quisitive CEO Mike Reinhart. “We continue to receive positive validation on our cloud-enabled platform and the unique value our payments-based data insights solution will provide to merchants. For the first time, retailers and restaurants will be able to instantly identify and engage their customers on a 1:1 basis to drive personalization at scale.”
Quisitive (TSXV: QUIS, OTCQX: QUISF) is a premier, global Microsoft partner that harnesses the Microsoft platform and complementary technologies, including custom solutions and first-party offerings, to generate transformational impact for enterprise customers. Our Cloud Solutions business focuses on helping enterprises move, operate, and innovate in the three Microsoft clouds. Centering on our LedgerPay product suite, our Payments Intelligence® solution leverages the Microsoft Azure cloud to transform the payment processing industry into an entirely new source of customer engagement and consumer value. Quisitive serves clients globally from seventeen employee hubs across the world. For more information, visit www.Quisitive.com and follow @BeQuisitive.
Quisitive Investor Contact
Matt Glover and John Yi
Gateway Investor Relations
Chief of Staff
Cautionary Note Regarding Forward Looking Information
This news release contains certain “forward‐looking information” and “forward‐looking statements” (collectively, “forward‐ looking statements”) within the meaning of applicable Canadian securities legislation regarding Quisitive and its business. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward‐looking statements. Forward‐ looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking statements. These forward-looking statements include, but are not limited to, statements relating to: internal business integrations, onboarding of pilot merchants, completion of additional certifications, expectations regarding go-to-market strategy and future success of the Company’s LedgerPay platform, growth prospects, projected milestones and timelines, and other anticipated benefits and impacts of the Visa certification.
The risks and uncertainties that may affect forward-looking statements, or the material factors or assumptions used to develop such forward-looking information, are described under the heading “Risks Factors” in the Company’s annual information form dated April 20, 2021, which are available under the Company’s issuer profile on SEDAR at www.sedar.com. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Recent changes in the economy have affected every sector, and the retail and CPG (Consumer and Product Goods) sector has been no exception. New capabilities in the past few years – cloud-native approaches to infrastructure and the enterprise view of retail data, for example – have given retailers exciting tools to attract and retain customers. But customers are demanding more and more from retailers, and companies have to draw on diverse resources to respond to consumers’ needs and competitors’ initiatives. Here are some of the most important technology-driven trends in retail and CPG that our customers are telling us they are looking out for.
Finding True Sustainability
Sustainability is not just a buzzword any longer. Consumers are way too savvy to be fooled by greenwashing, where a company pays lip service to environmental causes without making any real, fundamental changes. As jurisdictions around the world enact regulations to minimize industries’ impact on the planet, sustainability has become standard practice in many companies. What’s more, environmental sense is good business sense as well.
As consumers demand more or better sustainability practices, companies are addressing the problem in a variety of ways. New packaging solutions are becoming more affordable, and the use of renewable energy (whether generated by the company itself or by energy suppliers) is increasing.
But organizations are also finding less direct and less obvious approaches to lowering their environmental footprint. For example, enhancing or modernizing supply chain software can significantly affect a company’s use of energy and other resources. Similarly, newer fleet management solutions enable companies to reduce their fuel use by reducing mileage and idling. System-based automation is poised to have a major positive impact on the effect that companies have on the environment.
Enhancing Engagement through Loyalty and Personalization
Studies have shown that many consumers become frustrated when their shopping experience is impersonal. Conversely, shoppers who experience an effectively personalized buying experience have reported a positive influence on the purchasing process.
Retailers’ loyalty programs have increased in recent years, but consumers are beginning to consider whether they provide real value to them, and not just the retailers. While loyalty programs promise discounts, extras, or experiences, if customers do not feel that they are receiving value from the program, they either don’t bother with the program or move on to a competitor.
Consumer expectations are already very high, and the retail experience, whether through loyalty programs or personalization, must meet those expectations. Retailers are working to implement predictive analytics using rich customer data to shape the buying experience around individual customers’ needs and preferences. Larger retailers with a wide geographical spread can implement machine learning and artificial intelligence to provide a responsive and agile interaction with individual customers. Large retailers and CPG firms are now looking to pioneer personalized direct marketing, by leveraging cloud-based analytics and drawing on cutting-edge products like Quisitive’s LedgerPay that can help them deliver a much great personalized customer engagement that goes beyond what a typical retailers loyalty program captures.
Building Digital Twins
The availability of modern tools to create digital representations of retail spaces has been a major breakthrough for retailers and CPG companies alike. Creating “digital twins” – realistic 3-D spaces that analysts and customers can actually visit and experience – has made new possibilities for retailers. With increasing success in construction, smart cities, consumer-packaged goods, and supply chain management, digital twins are beginning to have a significant effect on the retail space as well.
With a digital twin, retailers can model new uses of their retail space to understand how it will affect customer navigation and use of the space. Non-customer areas can be modeled too; for example, a quick-service restaurant can measure the potential impact of new equipment on the kitchen layout and use it to increase efficiencies.
Testers can do virtual-reality walkthroughs of a digital twin to help modify the design. But other assets, like enterprise-level customer data and Internet of Things (IoT) data, can also connect to the digital representation to better model and analyze the physical experience. The value of the vast quantity of data that is potentially available to retailers is only rising; digital twins show how organizations that collect and capitalize on their data can find new innovations in the retail space.
Merging Online and Physical Stores
Benefits of a Ubiquitous Shopping Model
COVID created some overheated predictions that online shopping would forever destroy the bricks-and-mortar marketplace; this has been disproven long ago. However, merging the customer experience across online and physical interactions remains challenging for many CPG and Retail organizations.
Today, whether it’s online, mobile, kiosk or at a point-of-sale, customers want the same look and feel across all platforms so retailers and CPG companies must create an Omnichannel experience to meet these expectations.
Making both the online experience and in-store experience consistent creates a greater customer experience, making it easier for the consumer to shop through the entire process.
Having the same buying experience creates the ability to track customers’ preferences more easily by leveraging data analytics so that they can meet customer expectations effectively through any point of interaction
Omnichannels that leverage cloud base data stores provide the ability to use analytics more effectively allowing companies to not only offer better customer service but to provide consistent targeted campaigns and promotions specifically for that buyer.
And providing better and more efficient customer service, in turn, creates greater customer loyalty and satisfaction.
Customers expect a seamless, personalized experience no matter where, when, or how they engage with retailers. A modernized, cloud-based infrastructure, powered by data services that link information across the enterprise, is the key to success for many retailers.
The Future of Retail and CPG
The extreme challenges of the last couple of years have left their mark on the retail sector, just as they have on every other facet of the economy. As the online-native millennial generation matures, as shoppers become more sophisticated in their online behavior, and as the online and physical retail spaces become ever more crowded and competitive, companies are looking to take every advantage they can to stay ahead. Technology will continue to play a major role in retailers’ strategies, whether it’s harnessing the power of the customer data they possess, creating new opportunities for engaging with customers or finding new digital and online possibilities.
TORONTO, March 16, 2022 (GLOBE NEWSWIRE) — Quisitive Technology Solutions, Inc. (“Quisitive” or the “Company”) (TSXV: QUIS), a premier Microsoft solutions provider and payment solutions provider, executed a bank sponsorship agreement with Peoples Trust Company (“Peoples”), which will allow LedgerPay to process payments in Canada.
Peoples Trust, a Federally regulated Canadian financial institution, has been in the market for more than 35 years and is focused on providing tailored financial solutions with world class customer interactions. These solutions are what enable their clients, especially those in the fintech community, to provide services to Canadian customers. Over the years, the company expanded its product and service offerings, which now covers retail lending, deposit services, commercial mortgages, services and securitization, and payment solutions and card services.
Sponsor banks are members of credit and debit card associations that create the necessary links between payment processors, merchants, and credit and debit card companies to enable payment processing. Bank sponsorship is a critical partnership in each country for any payment processor and the partnership with Peoples represents another significant milestone on the pathway to the full commercialization of LedgerPay, a Quisitive product. Additionally, the process of attaining bank sponsorship includes extensive due diligence that has certified Quisitive’s financial status, business strategy, background checks, and more to ensure that Quisitive is a reputable payment processor and key participant in the global financial system. The achievement of bank sponsorship in Canada further validates the Company’s preparedness as it approaches the general availability of LedgerPay.
“We are thrilled to receive bank sponsorship from a well-respected and highly-regarded team in Peoples Trust,” said Quisitive CEO Mike Reinhart. “This marks a milestone achievement that adds the ability for Quisitive’s LedgerPay solution to process payments in both the United States and Canada. This accomplishment comes on the heels of receiving the necessary hardware for testing with Mastercard and the recent bolster of our executive team. We are experiencing strong progress and momentum as we continue our organic growth efforts within our payment solutions business.”
Howard Klein, President of Peoples Payments and Cards, part of Peoples Group, added, “Peoples Trust is excited to partner with Quisitive’s LedgerPay solution and we look forward to a long-term successful partnership in Canada.”
About Peoples Group:
Peoples Group has been providing tailored financial services to the Canadian marketplace for more than 35 years. Since 1985, our focus has been on exceptional customer service, solidly rooted in extensive product knowledge and experience. In the world of Canadian payments, Peoples Trust, part of Peoples Group, is a leading issuer of prepaid payment cards and an innovative merchant acquirer. We are an entrepreneurial organization that excels at customizing solutions to fit the needs of our clients. As a result, we have been recognized as a pioneer and innovator of prepaid cards in Canada, and an early adopter of payment solutions. We have partnered with many of Canada’s FinTechs, giving them the tools and guidance to help realize their success. For more information, please visit www.peoplesgroup.com
Quisitive (TSXV: QUIS) is a premier, global Microsoft partner that harnesses the Microsoft platform and complementary technologies, including custom solutions and first-party offerings, to generate transformational impact for enterprise customers. Our Cloud Solutions business focuses on helping enterprises move, operate, and innovate in the three Microsoft clouds. Centering on our LedgerPay product suite, our Payments Solutions business leverages the Microsoft Azure cloud to transform the payment processing industry into an entirely new source of customer engagement and consumer value. Quisitive serves clients globally from seventeen employee hubs across the world. For more information, visit www.Quisitive.com and follow @BeQuisitive.
Quisitive Investor Contact
Matt Glover and John Yi
Gateway Investor Relations
Quisitive Management Contact
President and Chief Executive Officer
Chief of Staff
Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Retail businesses are right on the front line of our economy. The market forces that affect businesses tend to hit the retail sector first and hit it hardest. This pressures retailers to change more quickly and more dramatically than many other businesses. That’s why right now, many retail businesses are working to modernize their software technology. And rightly so: staying with their legacy technology is hampering their success more than ever before. If your business is in the retail sector, application modernization is probably at the top of your list of concerns – and if it is not, it should be.
Why modernize now?
A host of factors are pushing retail businesses towards modernization. Some are larger economic forces, and some are responses to evolving customer needs. But they are all pushing retailers to consider how well their technology is keeping up. For most, staying with legacy technology hampers their success more than ever before.
Some of the forces affecting retailers include:
- Accelerating rate of mergers and acquisitions. Corporations are consolidating at a rate never seen before, and retail businesses are no exception. Any time companies come together, they want to integrate as quickly as possible to achieve the economies of scale and efficiencies they hope to create. This is a vital inflection point for determining where their applications are, and where they should be.
- Adoption of the “As-a-service” model. More and more, retailers are moving away from provisioning their own hardware and infrastructure. Instead, they are looking for ways to leverage their vendors as productively as possible by using more out-of-the-box services.
- Changing retail experience. COVID and its resulting surge in e-commerce has changed the retail experience both online and in bricks and mortar locations. Retailers are working hard to find strategies to respond to new customer behavior, by connecting their front line workers with solutions that will help deliver better for customers in person, virtually, and telephonically.
- Increasing need to understand customer behavior. As both customers and competitors become more sophisticated, identifying and understanding their behavior patterns becomes more valuable. Knowing where and how customers buy is crucial – and can only be achieved with better data and analysis.
With all these pressures, it’s clear that the need for a modernized technology portfolio is a key need in the retail space.
The Benefits of Modernization for Retailers
It’s true that modernization involves cost and effort. However, many businesses rightly consider it an investment and use it to realize long-term benefits to operations and the bottom line. Here are a few examples of how Quisitive has helped businesses in the retail and customer service sectors to modernize and make significant returns on their investment.
A customer-facing business was trying to staff its locations better. Over-staffing led to out-of-control costs, and under-staffing led to fewer satisfied customers. The company realized that they could improve their operations significantly by staffing their individual locations more effectively..
By moving their software to an Azure data platform, they were able to aggregate company data from multiple sources, including their ERP and inventory systems nationwide. This data enabled them to identify over- and under-performing stores based on revenue versus staff on the floor. With this knowledge, the company was able to adjust each location’s scheduling to staff it more effectively. This was only possible through modernizing their apps and moving them to the cloud, where their data could be brought together and analyzed effectively.
Building Better Customers
Converting potential customers to a loyal, repeat customer is truly the holy grail of online retailing. Quisitive worked with an online retailer to analyze their customers’ sales journey, seeking ways to influence buyers to purchase the products they want most. As part of modernizing, the company aggregated data from user searches on their online storefront and applied Machine Learning to correlate terms and analyze patterns to figure out what customers were actually searching for.
With this analysis, the retailer was able to adjust their website dynamically to predict users’ demographics and desired products, and present to them the items they were most interested in—whether the customer knew it or not. The result was a significantly enhanced customer experience and increased customer retention, which will only improve as the customer dataset continues to grow.
A leading automotive parts retailer did an Azure Assessment that outlined their potential for moving to the cloud. They decided to migrate their most complex application, their POS system, to the Azure Platform-as-a-Service (PaaS) model. Migrating this application to Azure would serve as an example to the rest of the organization, as well as make the migration of remaining workloads from their datacenter more seamless. But this was a big first step – not typical for a modernization approach.
Quisitive designed and deployed an Azure Landing Zone to support the organization’s environment. During this process, Quisitive evaluated the Azure Landing Zone against Microsoft’s best practices and Cloud Adoption Framework, defined any gaps in deployment, and built out as required to support anticipated workloads.
With the build-out of their Azure Landing Zone, this organization now has the proper foundation for their modernization initiatives and can benefit from the cost savings and built-in support provided by Azure PaaS services. Additionally, the migration of their most complex application has inspired the organization’s confidence in Azure, creating an easier path for modernizing the rest of the company’s application portfolio.
The idea of modernizing a company’s entire environment of applications can be daunting, even overwhelming. To address this, Quisitive developed its On-Ramp to Application Modernization (ORTAM) process to help clients work through their modernization. Broadly, the steps in ORTAM are:
- Identify applications and dependencies. A full inventory of the organization’s applications is created, and groups of applications are prioritized for modernization. For each application, its modernization need – rehost, refactor, rearchitect, rebuild, replace, or retire – is proposed.
- Evaluate the environment. Automated tools help to create a holistic view of the environment, including an understanding of the data, servers, databases, and code involved.
- Define modernization waves. The risks of application modernization are minimized by performing it in smaller groups, rather than all at once. Applications are grouped into waves based on similarities in their code bases, complexity, compliance requirements, and dependencies.
- Modernize the applications. Application architects design a modern Azure environment for the small group of applications in each wave. They develop a modernization plan and timeline for them – and then execute the plan, ensuring that appropriate controls are in place throughout.
Throughout the process, change control and communications are key to ensuring each wave of the modernization effort is a success.
Quisitive has helped retail partners realize great benefits by modernizing their applications. Unlocking the data held in siloed applications and connecting locations and data from across their enterprises have provided significant return on investment for retail businesses that have followed the modernization path.
Our experience with application modernization, with the Azure environment, and with the retail sector ensures that we can help minimize disruption, maximize effectiveness, and deliver a migration that will be cost-effective and beneficial.
- Current trends in retail
- Impact of application modernization for retail customers
- How to achieve a modernized application portfolio
Explore more technology solutions for retail organizations
Digital innovation and transformation have been booming left and right. We’re making our way towards a more efficient, agile and sustainable future that’s powered by technology. The last year has fast-tracked these changes, and as they progress, it’s important that we keep up. This past year, Microsoft’s Industry Cloud offerings have expanded to meet industry needs head-on. Here’s a look into what’s new, and how these new clouds can take organizations to the next level.
Microsoft Cloud for Financial Services
- Modernize core banking services
- Develop deep analytics
- Enable new ways to reach customers
Microsoft Cloud for Manufacturing
- Secure remote work and the safety of frontline workers
- Create more resilient supply chains
- Enable always-on service
Microsoft Cloud for Nonprofit
- Utilize a connected intelligent platform that allows staff and volunteers to focus on their mission
- Connect with constituent engagement, program design and delivery, volunteer management, and fundraising
Microsoft Cloud for Healthcare
- Automation and efficiency on high-value workflows
- Deep data analysis functionality for both structured and unstructured data
- Now including virtual health, remote patient monitoring, care coordination and patient self-service, and support for eight new languages
Microsoft Cloud for Retail
- Connect the end-to-end shopper journey
- Improve operations, sales, and customer service
What’s unique about these offerings?
These new clouds, as well as the cloud offerings Microsoft has already provided, will be able to work either independently or together depending on the organization. They allow for customization and seamless integration with endless possibilities.
Microsoft has a wide range of partners that are leaders in every industry. Customers have access to hundreds of thousands of solutions, making it possible for each organization to find a solution that can tailor to their specific needs and challenges.
Learn more in Microsoft’s blog: https://blogs.partner.microsoft.com/mpn/give-customers-an-edge-with-new-microsoft-industry-clouds/
TORONTO, June 28, 2021 (GLOBE NEWSWIRE) — Quisitive Technology Solutions Inc. (“Quisitive” or “the Company”) (TSXV: QUIS), a Microsoft Cloud Services and Payment Solutions Provider, has announced that it has successfully executed its previously announced letter of intent (“LOI”) with The Bancorp Bank, the wholly-owned subsidiary of The Bancorp, Inc. (NASDAQ: TBBK) to act as a sponsor for direct payment processing for Visa™, Mastercard™, and other major credit and debit card brands.
With over $6.2 billion in assets and over 600 employees around the nation, The Bancorp is a Delaware-based bank that services the unique needs of non-bank financial service companies, ranging from entrepreneurial start-ups to Fortune 500 companies. The Bancorp and its subsidiary, The Bancorp Bank (Member FDIC, Equal Housing Lender), has been repeatedly recognized by the Nilson Report as the Top Issuer of Prepaid Cards (US), a top merchant sponsor bank, and a top ACH originator. The Bancorp works with some of the most forward-thinking upstarts in financial services by providing consultancy, financial services, and technology that enable its clients to bring their business vision to fruition. Sponsor banks are members of credit and debit card associations that create the necessary links between payment processors, merchants, and credit and debit card companies to enable payment processing. Bank sponsorship is a critical partnership for any payment processor and represents a significant milestone on the pathway to the full commercialization of LedgerPay, a Quisitive product. Additionally, the process of attaining bank sponsorship includes extensive due diligence that has certified Quisitive’s financial status, business strategy, background checks, and more to ensure that Quisitive Payment Solutions is a reputable payment processor. The achievement of bank sponsorship validates the Company’s preparedness as it approaches the general availability of LedgerPay.
“Successfully receiving bank sponsorship from a well-respected and highly-accredited organization such as The Bancorp, is an absolutely vital component that provides LedgerPay with direct payment processing capabilities with the major credit and debit card brands,” said Quisitive CEO Mike Reinhart. “The Bancorp brings to the table a team of seasoned financial experts that have a plethora of experience within the payments sector. Quisitive’s recent acquisition of BankCard USA, onboarding of payments industry leaders to the team, development of a comprehensive risk management program, achievement of Microsoft Co-sell Ready status, and now execution of the bank sponsorship demonstrates significant progress toward full commercialization of the LedgerPay solution.” “The Bancorp is excited to announce our sponsorship of Quisitive LedgerPay as a direct merchant acquiring partner. Our support of this major milestone on LedgerPay’s journey, demonstrates The Bancorp’s confidence in their technology, risk management, security strategies, and their leadership team. We look forward to a robust partnership between The Bancorp and Quisitive and the positive impact that the LedgerPay solution will have on the market and our customers,” said Matt Carberry, Managing Director, Head of Partner Strategy at The Bancorp.
LedgerPay, a Quisitive product, is a payment processing and Payments Intelligence™ solution that captures and analyzes rich data from every card-based transaction in every channel. It transforms payments data into customer engagement by empowering a merchant’s ability to deliver personalized promotions based on an individual’s historic buying behaviors and category preferences to shoppers at the point of purchase in real-time while they are still in the store or restaurant. Quisitive leveraged their alliance with Microsoft to develop LedgerPay on the Microsoft Azure platform, creating the first of its kind, cloud-based payments solution. Building a solid foundation on top of Azure DevOps and utilizing Azure services such as Azure Kubernetes Services, CosmosDB, and ExpressRoute, among others, allows LedgerPay to fundamentally transform payment transactions into a valuable customer engagement tool, offering personalized promotions with 100% of non-cash merchant customers even if they are not enrolled in a loyalty program.
“LedgerPay is a case study of how the power of Microsoft Azure, together with the collective financial services and payments expertise of the Microsoft and Quisitive teams, can deliver innovative solutions to brick-and-mortar and omnichannel merchants,” said Peter Hazou, Microsoft’s Worldwide Director, Business Development, Financial Services. “The progress of LedgerPay towards full commercialization is exciting because it’s an application of Azure technology that offers both brick-and-mortar and e-commerce merchants a new competitive advantage that is unlike anything previously seen in the payments field.”
TORONTO, May 07, 2021 (GLOBE NEWSWIRE) — Further to its news releases dated March 29 and April 8, 2021, Quisitive Technology Solutions Inc. (“Quisitive” or the “Company”) (TSXV: QUIS), a premier Microsoft Cloud Services and Payments Solutions Provider, announces the closing of its acquisition (the “Transaction”) of BankCard USA Merchant Services (“BankCard”), an established all-in-one merchant payment services provider. The Transaction was previously announced on March 29, 2021.
The successful acquisition of BankCard is expected to be transformational for Quisitive’s Payment Solutions business. With annual transaction volumes of $3B across its portfolio of 7,000 merchants yielding $31.4M in 2020 unaudited revenue contribution and unaudited adjusted EBITDA of $11.3M, BankCard aligns with Quisitive’s inorganic growth strategy and adds to the financial strength of the Company. With the impending full commercialization of LedgerPay, slated for the summer of 2021, this Transaction augments the business with a robust merchant portfolio, a team of payments experts, and additional synergies.
BankCard also delivers valuable payments IP to the Quisitive portfolio. AgeChecker is a software solution that provides independent online age verification and significantly boosts security authentication for age-restricted purchases. This will be a powerful asset in conjunction with Quisitive LedgerPay’s top-of-the-line information security practices and advanced ISO certifications.
BankCard will integrate its team of 40+ members, including a strong insides sales team and customer services and risk management experts, to the Quisitive Payments Solution business. As Quisitive moves to redefine modern payments through a growing suite of merchant and payments solutions, the Company believes this transaction will fuel critical growth.
“Our team is proud to be joining Quisitive at this major inflection point, as they turn the corner into the full commercialization of LedgerPay and launch what is going to be a major industry innovation. We look forward to supporting them in this journey with our expertise and IP, as well as having the opportunity to offer LedgerPay to our diverse customer base,” said BankCard USA CEO Shawn Skelton.
Mike Reinhart CEO of Quisitive added: “When we set our vision for Quisitive Payments Solutions, we knew we wanted to find a strategic ISO partner to bring into the fold to augment our team and bolster our payments operations. BankCard USA is a synergistic fit because they align with our bold vision for the future of payments while bringing a deep history of excellent customer service and established operations. This acquisition was an essential part of our journey, but its impacts will be novel, not just for Quisitive, but for the entire industry.”
For more information about the transaction, see the full press release.