Magazine Store

50 Leading Companies of the Year 2021

An innovator with exceptional payment processing technologies to complement its core merchant services capabilities: AppTech Corp


Over the last few decades, the financial institutions have built a payment system that is almost obsolescing during the rise of fintech disruptions like distributed ledger, decentralized protocols, and virtual currencies. Investors in the fintech arena are looking forward to catering to the needs of a younger, digital crowd who are more into simpler buying methods. Innovations in distributed ledgers have paved the way for frictionless systems, and it has eliminated barriers to remittances, data transfers, and cross-border payments. These transactions are efficient, and they are used to promote prosperity and unlock greater economic activities. Entrepreneurs are building innovative solutions and designing new payment processes to allow consumers and banks to make transactions anytime, anywhere. Various fintech companies are diligently working to create seamless solutions for payment processing, but one that stands out from the rest is AppTech Corp.

AppTech Corp. is a financial technology company utilizing innovative payment processing technologies to complement its core merchant services capabilities. The company provides a variety of services to meet each merchant’s needs, and its services include credit card processing, Automated Clearing House (“ACH”) processing, gift and loyalty cards, and e-commerce. The company is expanding its core services to include global, patented text messaging, secure mobile payments, and digital banking solutions. AppTech has acquired intellectual property and enterprise-grade software in the global mobile space that the company believes will thrust itself to the forefront of the fintech sector.

In conversation with Virgil Llapitan, COO of AppTech Corp

Q. Is it important to automate the end-to-end settlement for payment processors? Explain.

Payments are the strategic driver of a business’ success. Under this view, we believe that it is important for a payment processor to automate the end-to-end settlement because automation allows for prioritizing, streamlining, and customization of settlements based on individual risk factors.

Q. Explain about your security strategy to prevent data leaks

AppTech is PCI (Payment Card Industry) Compliant. In maintaining our compliance, we ensure that our merchant’s payment card data remains private and secure throughout every transaction that their business processes through encryptions. Not only do we take action to maintain the privacy of our merchants but their customers as well.

Q. Due to the rise in online payments, the financial system appears to be more  vulnerable. Is it possible to downsize the risks by deploying the right solution?

As payments have become digitized bad actors, continue to attempt to exploit security weaknesses, but it is possible to downsize the risks by deploying the right solution! We strive tirelessly to ensure all transactions are safe and secure. As we move forward, the primary focus of our technology revolves around security.

Q. Can SMEs benefit from your tools and solutions? If yes, how sustainable can it be for them?

Our diverse but complementary suite of services allows us to provide solutions for each client’s fintech needs. Small and Medium Enterprises can benefit through our advanced payment processing solutions that are configurable for multiple consumers, SME and B2B digital banking use.

Q. A customer looks for convenience, simplicity, and security. These demands are ever growing, and it is absolutely necessary to keep your customers satisfied. Are you offering a little extra to stand out in this constant race among your competitors?

The substantial growth in the fintech market and the rapid adoption of mobile payments present large opportunities. We offer customizable payment solutions to fit any merchant’s needs, from POS (Point of Sale) systems to ecommerce. Further, we believe our yet to be launched text payment system will offer the comfort and convenience of text messaging with state of the art security protocols.

Q. A company needs extremely talented and dedicated individuals in house to provide flawless fintech/IT services. How did you manage to form your dream team?

Over the years, AppTech has created and maintained relationships with people that bring a special skill set of forward-thinking and loyalty to our company. We have been fortunate to build a team of individuals who share the belief that their work is for the greater good while always keeping an eye on innovation. 

Q. Do you have any new services launching soon?

As mentioned, AppTech will soon offer a secure text payment system by integrating its patented technology. Our Secure text payment system is being designed to provide 1.2 billion mobile users without access to the internet the ability to conduct secure mobile transactions. This product will allow companies to establish new avenues to receive payments via a direct, reliable, and familiar text message. Backing this technology with our ability to accept multiple currencies will provide the platform with cross-border capabilities.

Q. What are your trajectories for the next 5 years?

The power dynamics in the payment industry are changing as businesses and consumers shift dollars from the use for cash to automated payments. Cards currently dominate the in-store and through ecommerce. At the same time, the ease of shopping on smartphones is attracting a rise in online shopping. However, we are finding that mobile wallets are quickly becoming the future of payments. In response to these fintech trends, AppTech is launching its text payment solution and breaking into the telehealth sphere.

Meet the leader behind the success of AppTech Corp                

Virgil Llapitan is the President and COO of AppTech Corp. Virgil Llapitan has 30+ years in the Financial Services industry. His background spans from insurance, banking, and lending. He transitioned into the Merchant Services industry in 2004. During this time, where he helped develop and market the original ACH Payment Processing systems for online merchants as the Chairman, COO, and Director of HIMC Corporation.

“AppTech has acquired intellectual property and enterprise grade software in the global mobile space that the company believes will thrust itself to the forefront of the fintech sector”