CARLSBAD, CA / ACCESSWIRE / April 25, 2023 / AppTech Payments Corp. (AppTech) (NASDAQ:APCX), a Fintech company powering commerce experiences, today announced the Company signed a Memorandum of Understanding (MOU) with Broadnet Technologies, LLC ("Broadnet") a Tier 1, SMS/Text Provider and Aggregator.
The Company anticipates executing a definitive Strategic Partnership Agreement, Patent License Agreement, and Channel Partner Agreement within sixty days. After the definitive agreements are executed, the partnership will expand AppTech's reach in the global text-to-pay space, offering AppTech's CommerseTM platform to Broadnet's global customer base. In addition, AppTech and Broadnet will offer two-way SMS and a suite of SMS tools to the global market. The Patent License Agreement will license AppTech's SMS and Mobile Payment patents to Broadnet, thereby expanding the Company's footprint by supporting integrations with its patent-based portfolio in text-to-pay and SMS solutions.
"Once fully executed, these pending agreements will allow AppTech to offer our intellectual property and suite of Commerse TM products to Broadnet's customer base. In addition, the Company plans to roll out a link to phone invoice payment checkout experience using text to pay," said Virgil Llapitan, President of AppTech Payments Corp. "We look forward to working closely with the Broadnet team in what we expect to be a mutually beneficial partnership that will drive long-term growth and ultimately build shareholder value."
The partnership will build upon licensing AppTech's intellectual property, including but not limited to Payments-as-a-Service ("PaaS"), Banking-as-a-service ("BaaS"), and two-way SMS. The integration with Broadnet's network will bolster AppTech's fully integrated approach to all payments experiences and purchasing journeys. As a result, the partnership will empower AppTech to continue the development, growth, and launch of CommerseTM and Broadnet to offer payments to their more than 60,000 clients worldwide.
Broadnet built the first short message service center (SMSC) gateway, which is the portion of a mobile phone network that handles text message operations and is responsible for receiving, storing, routing, and forwarding SMS messages from mobile handsets.
Rabih Al Zubaidi, Founder and CEO of Broadnet, said, "We are excited to work with AppTech and their engineers to expand our suite of products to include AppTech's text-to-pay and other CommerseTM products. Additionally, AppTech will offer our SMS products integrated into their CommerseTM platform."
About BroadNet Technologies, LLC
With over 20 years of experience as an SMS provider and aggregator, Broadnet is a prominent global business messaging solutions provider and a GSMA member. BroadNet offers a number of services, including Bulk SMS, HLR Lookup, SMS Firewall, A2P SMS, SMSC Gateway, and more, all based on industry standards and technical frameworks. Since 2003, Broadnet has seen steady growth and is now one of the leading telecommunication companies in SMS-related services, with more than 60,000 satisfied clients globally. Furthermore, BroadNet has been presented with ISO 27001:2013 and ISO 9001:2015 for delivering quality and secure SMS solutions that meet the requirements and expectations of today's clients. Broadnet develops and maintains its own proprietary SMS platforms to provide innovative, customized, and differentiating products and services. Coupled with direct connections to over 680 operators and carriers worldwide, we are able to offer top-quality routes with exceptional performance and reliability at very competitive prices. Our services make it easy to send one or one billion SMS messages anywhere in the world safely and securely. Starting from BroadNet's HQ in Beirut, Lebanon, we now have offices and branches in 13 countries on 4 continents, with more being planned. For more information, visit www.broadnet.me.
About AppTech Payments Corp
AppTech Payments Corp. (NASDAQ:APCX) is an innovative Fintech company with an elite digital platform that powers seamless omni-channel commerce experiences for clients and their customers. AppTech is developing a transformative digital payments and banking all-in-one platform that will upend the Fintech industry. Our embedded, highly secure platform drives B2B, B2C and P2P capabilities in Payments-as-a-Service (PaaS) and Banking-as-a-Service (BaaS) from crypto and contactless payment options to virtual cards, text-to-pay, mobile-to-mobile and cross-border remittance. For more information, visit apptechcorp.com.
This press release contains forward-looking statements that are inherently subject to risks and uncertainties. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate, believe, estimate, expect, forecast, intend, may, plan, project, predict, should, will" and similar expressions as they relate to AppTech are intended to identify such forward-looking statements. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in methods of marketing, delays in manufacturing or distribution, changes in customer order patterns, changes in customer offering mix, and various other factors beyond the company's control. Actual events or results may differ materially from those described in this press release due to any of these factors. AppTech is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Investor Relations Contact
Michael Kim/Brooks Hamilton
AppTech Payments Corp.
SOURCE: AppTech Payments Corp.
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