Tickers: XTSX:QUIS, PINX:QUISF
Tags: #Banking&FinancialServices, #Mining, #Technology
Microsoft Cloud-based Payment Processing Platform Provides Merchants with Unprecedented Customer Insights with Every Payment Transaction
Toronto, Ontario - TheNewswire - March 24, 2020 - Quisitive Technology Solutions (TSXV:QUIS) today announced the release of LedgerPay, a secure, Microsoft cloud-based payment processing and data insights product platform.
LedgerPay is the only cloud-based payment processing platform to incorporate data collection and analysis with each transaction, thereby transforming payment transactions into beneficial, profitable, and actionable experiences for brick-and-mortar merchants such as grocers, quick serve restaurants and big box retailers and their customers.
LedgerPay's product suite includes two distinct offerings: payment processing and payment tokenization. The payment processing platform provides traditional payment processing services on a modern, Microsoft cloud-based platform, providing merchants with a combination of exceptional performance and ease of integration that's also highly cost effective. The payment tokenization solution enables merchants to securely and instantly learn specific, definable information about their customers they can leverage for marketing, promotions, and inventory purposes. Unlike loyalty programs, which only account for a small percentage of consumers who opt in, LedgerPay provides data insights from every customer who uses a payment card.
Historically, payment processing vendors have had a singular, narrow purpose: to handle payment at the point of sale. However, when a customer makes a purchase at a brick-and-mortar merchant location, it's more than just an exchange of funds, it's an electronic interaction. When handled properly, that electronic interaction can be unlocked to provide insights into the customer's spending habits, purchasing frequency, and product preferences. Yet, today, virtually none of this data is collected or utilized. Merchants want to make use of this data, but the best they can hope for is to create loyalty and digital programs, hoping enough customers will enroll and regularly utilize the program, often with very mixed results.
"While customer demands have forced merchants to digitally evolve, the payment processing landscape remains static and arcane, making it increasingly difficult for retailers to find value in their payment processing relationships," said Mike Reinhart, Quisitive CEO. "This landscape has been a laggard when it comes to digital innovation, because incumbents leave valuable data 'on the floor' with no ability to capture and leverage purchase data to benefit merchants. As such, payment processors have become strictly necessary cost centers for merchants, but they don't provide meaningful added value. The Quisitive LedgerPay product team, led by Scotty Perkins, is disrupting the status quo and serving a massive opportunity in the marketplace."
LedgerPay benefits ISOs, merchants, and ACH payables, as follows:
- ISOs -- LedgerPay provides Independent Sales Organizations (ISO) a way to add the value of customer data collection and analytics to their current services, creating deeper loyalty with their customer base.
- QSRs and Grocers -- LedgerPay enables Quick Serve Restaurants (QSR) and Grocers to capitalize on additional revenue by providing invaluable--and previously unavailable--insights into customers with every payment transaction.
- ACH Payables -- LedgerPay is a fully-featured payment and settlement platform, providing high-performance payments for enterprises beyond just credit and debit. Enterprises can utilize LedgerPay to enable ACH and other payables automation and integrate it seamlessly with financial operations and financial reporting solutions such as Microsoft Dynamics 365 and SAP.
"Incubating under Quisitive gave us the ability to leverage our strategic relationship with Microsoft to develop the first payment processing solution strategically aligned with Microsoft Azure," said Scotty Perkins, SVP of Product Innovation. "It was critical that we create a disruptive solution to challenge the status quo of payments technology. We've done that with LedgerPay, offering a high-performance payments platform with rich and uniquely powerful data insights."
Built on a Microsoft cloud-enabled architecture, the LedgerPay API provides live payment and basket data, processing it securely and in a compliant manner to a variety of different retail and business systems, including AI and advanced analytics tools for customer experience and business performance management. This process builds a much more meaningful customer profile than is available today, allowing merchants to create personalized, targeted marketing messages for the right products in the right moments.
To learn more about LedgerPay, visit www.quisitive.com/ledgerpay.
LedgerPay, a Quisitive company, is revolutionizing the future of payment processing by transforming payment transactions into beneficial, profitable, and actionable experiences for merchants.
Quisitive is a premier Microsoft solutions provider that helps enterprise organizations move, operate, and innovate in the Microsoft cloud: Microsoft Azure, Microsoft Dynamics and Microsoft O365 as well as provide proprietary Software as a Service ("SaaS") solutions such as CRG emPerform(TM), LedgerPay, and business solutions from other technology partners that complement the Microsoft platform. With a legacy of deep technical and business expertise, Quisitive is empowering the enterprise to navigate the ever-changing technology climate their business relies upon.
For more information, visit http://www.Quisitive.com and follow @BeQuisitive. TSXV: QUIS.
For additional media information
Copyright (c) 2020 TheNewswire - All rights reserved.