AppTech Corp. (OTC: APCX) announces it has signed a definitive agreement to acquire FlowPay™, a comprehensive cloud-based mobile payment platform designed specifically for the tax exempt non-profit market.
The terms of the agreement will be disclosed in the company's next quarterly filing and registration statement.
FlowPay® has built a real-time mobile gifting service, with the next generation of text-messaging software integrating web embedded content, digital media, and secured text-messaging. The system provides real-time data analytics along with a suite of business applications including mobile payment.
Wayne Steiger, FlowPay founder and CEO, said, "We are very excited at FlowPay as AppTech shares the same vision towards the mobile payment market and future of social payment. We are seeing rapid growth in mobile payments and AppTech will bring simple and powerful messaging payment capabilities to new markets."
The acquisition supports AppTech's mission to provide industry leading cloud service, payment processing, and mobile payment technologies to businesses. FlowPay's™ mobile payment software in combination with AppTech's cloud infrastructure will help accelerate growth and bring significant value to AppTech shareholders.
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