Quisitive Selects Visa to Modernize Payment Processing for PayiQ

New hosted solution enables PayiQ to have direct connection to VisaNet, offering expanded payment processing capabilities across new geographies

TORONTO, Nov. 09, 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 entered into a partnership with Cybersource, a Visa solution, to directly access VisaNet and expand the payment acceptance model for PayiQ.

By working with Visa, PayiQ opens a new distribution channel of Independent Software Vendors (ISVs) to connect directly to Visa, allowing acquiring banks to use Visa's network and processing without the need for third-party payment processors. Participating ISVs will select from a list of partner payment processors, including PayiQ, to support the settlement process. The technology infrastructure supporting this partnership will enable the migration of BankCard USA merchants to the PayiQ platform, validating the strategic migration plans announced by the Company earlier this year.

Created to bring a new level of innovation to technology companies and software vendors, this partnership combines Cybersource’s acquiring solutions with PayiQ’s advanced suite of automated management tools and settlement management to deliver integrated payments. PayiQ’s cloud-enabled platform offers a breakthrough in streamlining traditional back-office operations for resellers. In addition to a configurable management dashboard, PayiQ offers automated onboarding and underwriting for same-day merchant identifications, as well as direct control over pricing, automated chargeback management, and immediate access to all merchant data. The complete offering will help drive accessibility to creative commerce solutions and new technologies that improve the payments experience for resellers and merchants alike.

“We are excited to be able to partner with Cybersource to deliver a new, cloud-enabled processing solution that transforms what has been a host of slow, manual management processes to a 21st century level of automation,” says Jana Schmidt, President of Quisitive’s Global Payments Solutions. “This infrastructure is just the start of a collaboration that will continue to support innovative products and services while driving new verticals, new geographies, and new technologies.”

About Quisitive:
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 use of proceeds from the New Loan; the Company’s future business strategy, competitive strengths, and goals; the expansion and growth of the Corporation’s business, operations and plans; dependence on economic and market conditions including; the future success of the Company’s PayiQ platform; and projected milestones and timelines. 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.

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