The Silicon Review
As people continue to adapt to the digital lifestyle, they are also expecting the same seamless experience and convenience from other aspects of life, including financial services. Fintech is no longer the latest buzzword as it has managed to dominate the world of finance completely, and it has also shaped up various areas like investment, banking, and insurance. Fintech is extending inclusion with its unique capabilities and improving the daily lives of people. Experts are speculating that the Fintech segment is well-poised to play a crucial role in the post-COVID world, and it will now evolve quickly and adapt to the ever-changing scenarios.
Globally there are various firms providing excellent fintech services, but AppTech Corp stands out from the rest. AppTech Corp. (APCX) is a publicly listed Fintech company utilizing innovative payment processing and digital banking technologies to complement its core merchant services capabilities. The company’s services include credit card processing, ACH transactions, e-commerce, and digital banking. Its patented and proprietary software for merchant services, text marketing, and lead generation will be licensable or available through a suite of synergistic offerings. AppTech also offers services like digital marketing, software development, mobile app development, website development, website hosting & comprehensive payment processing for brick-and-mortar operations, e-commerce, and ACH.
In conversation with Luke D’Angelo, CEO of AppTech Corp
Q. How do you define the current global financial and e-money payment landscape?
Amid the COVID-19 crisis, Americans are abandoning cash almost entirely in favor of “tap and go” transactions or Contactless Payments. These forms of payments have grown by 150% and are expected to grow at around 20%+ per year over the next 5-years. The current e-money payment landscape is a very hot space to be in right now because there is a clear need. Digital payments are here to stay!
Q. Do you provide tailor-made solutions depending on the clients’ requirements?
From traditional merchant accounts to customizable technological solutions, AppTech continues to modernize and enhance payment processing capabilities and digital banking solutions. Our diverse but complementary suite of services allows us to provide solutions that meet each client’s needs.
Q. Online transactions create a lack of personal relationships with bank personnel. How do you leverage modern technologies to bridge this gap?
For most transactions, the Digital User Experience (UX) is the perfect salesperson. Digital channels offer personalization, purchase facilitation, independent product reviews, and the seamless customer journey ultimately ends at the payments page. The online experience is not suitable for specific products such as the launch of a luxury designer bag or a luxury sports car because participation is a part of the experience. From everyday household items to buying socks, online transactions save customers from the frustrations of commuting to wait at the cashier line.
Q. Cyber security is the top priority of any financial services company. How do you secure your clients’ data without increasing the complexity of the financial activities?
The biggest leap in protecting credit card information has been through the tokenized payments process, removing the risk from the merchants and SMBs. AppTech’s digitally transformed payments solutions offer a Tokenized sales process to ensure security. Tokenization is the process of replacing sensitive data, such as your Credit Card number or payment account number (PAN), with non-sensitive data. Tokenization safeguards your data by replacing it with a unique string of numbers.
Q. How do you gain sustainability, speed, and cost out to expand in the payments sector—particularly with small-to-medium enterprises (SMEs) segment?
Negotiation and choice. SMEs need the freedom and choice to negotiate reasonable payment terms, and large corporations should work to empower this. Unfortunately, that expectation is not realistic because large corporation are unwilling to cater to their clients. AppTech, on the other hand, offers a platform that is customizable to each SME’s needs and will enable to compete and sustain market growth.
Q. What would you say are the top three skills needed to be a successful CEO?
Be willing to work for free.
Don’t ask others to do what you wouldn’t be willing to do.
Love what you do.
Q. Do you have any new services ready to be launched?
Based on our leading intellectual property, AppTech is currently developing patent-protected text payment technology. This solution will be designed to integrate with most major mobile devices and payment processors globally. In contrast to many mobile payment systems, AppTech’s secure text payment system will not need a data plan, specialized applications, or internet access.
Some anticipated Features of the platform include: accepting multiple currencies, providing cross-border capabilities, digital accounts for users, providing verification of accounts and funds, authentication of user identity, and authorization for payment processing.
Additionally, this platform will host a certified MasterCard and Visa Issuing technology stack. This ‘stack’ will enable AppTech to expand its product suite to include comprehensive inbound and outbound B2B payment solutions, and SaaS issuer card processing to other fintech companies.
Q. What are the areas covered by your patents?
We currently have four patents in text message technology that include moving payments from cellphone to cellphone, sending URLs via text message, and allowing computers to send text messages to a mobile device. Our two “System and Method for Delivering Web Content to a Mobile Device” patents allow companies to send URLs in text messages. These patents are responsible for helping to create the industry protocol known as Wireless Access Protocol (WAP) Push. For example, when you purchase content in iTunes or the Google Play Store, you receive a text message with a link to download the content or application.
Our “Computer to Mobile Two-Way Chat System and Method” patent allows for communication from a computer to a mobile phone device via SMS text messaging. An example of this patent’s application is when a user receives a text saying, “Text ‘HELP’ to 77777 to donate $30.” When the user replies to the computer with the message ‘HELP,’ the computer can process the transaction by moving the money with the use of our “Mobile-to-Mobile Payment System and Method” patent. We believe that this patent, “Mobile-to-Mobile Payment System and Method,” sparked the creation of the P2P (Peer to Peer) Payments industry by allowing users to move money by text message, click, tap, or scan.
Meet the leader behind the success of AppTech Corp.
Luke D’Angelo is the CEO of AppTech Corp. Mr. D’Angelo has more than 25 years of experience in investment banking, real estate, venture capital, and capital markets. In 2006, he founded a merchant services company, which became an Inc. 500 fastest growing company - ranked at #105. The company was the first “Merchant Owned” company in the United States, offering ownership in the company for customers based on their monthly credit card processing volumes. He currently resides as AppTech’s Chairman of the Board, Chief Executive Officer, Executive Director, and Chief Investment Officer.