OpenTransact is a self-serve banking platform designed to support high-risk businesses, which prioritizes security, risk management, and compliance within industry regulations.
About
The Company provides alternative “Closed-Loop” payment solutions to consumers and businesses across a wide array of verticals. The Company believes that mobile wallet technology will ultimately grow to become the preferred method for merchants and consumers to transact at the point of sale, and it is our goal to capture significant market share from the mobile wallet segment through its proprietary “Pay with Deb” consumer app and merchant services platform.
The Company targets the mid to high-risk merchant market where businesses operating within innovative verticals and e-commerce are incurring higher transaction costs, utilizing a robust compliance policy for onboarding users and businesses in accordance with federal and state regulations. “Pay with Deb” operates on a “Closed-Loop” system, where consumers can purchase “Deb Tokens” to store in their mobile wallets and use their Deb Tokens to make purchases within the Pay with Deb merchant network. Deb Tokens are not a crypto currency, stable coins, or tied to any exchange. For more information about
About
OpenTransact offers a comprehensive, self-serve banking platform that not only supports high-risk businesses, but also prioritizes security, risk management, and compliance within industry regulations. This powerful combination empowers merchants in the CBD, Nutra, Gaming, and other high-risk industries, to access a SaaS platform that seamlessly integrates cutting-edge payment solutions with best-in-class risk management tools.
OpenTransact’s self-serve banking platform is specifically designed to support high-risk businesses that are unable to utilize services such as Shopify, Stripe, and PayPal.
Through OpenTransact, merchants can swiftly integrate Cryptocurrency, ACH, Debit, and Credit Card payments into their existing Shopify, WooCommerce, and custom-built web shops, or use our platform to create dedicated micro-sites. For in-store retail, our payment solution may be connected with existing terminals in minutes or process payments from iPhones or iPads.
OpenTransact’s comprehensive platform also empowers merchants to leverage their revenue for automated inventory financing, insurance, and employee payroll management, effortlessly manage cash holdings across multiple bank accounts, or convert to crypto and store funds within their preferred hot or cold wallets. For more information about OpenTransact, please visit our website: www.opentransact.com.
Safe Harbor Provision
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expects,” “intends,” “plans,” “projects,” “estimates,” “anticipates,” or “believes” or the negative thereof or any variation thereon or similar terminology or expressions. These forward-looking statements are based upon current estimates and assumptions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, those factors set forth in the Company’s Annual Report on Form 10-K for the year ended
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