AppTech Payments Corp. Reports Fiscal Year 2023 Results

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AppTech Payments Corp. (APCX) reported a 12% increase in revenue for the fiscal year 2023, reaching approximately $504 thousand. The company announced strategic partnerships and acquisitions to expand its reach, including a mobile-to-mobile payment system with InstaCash, Inc. and the acquisition of FinZeo, a software development company. AppTech also secured agreements with Reno-Tahoe International Airport and a credit union network. The CEO highlighted the company's focus on growth through mergers and partnerships to enhance shareholder value.
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The reported 12% increase in revenue for AppTech Payments Corp. is a modest growth, particularly in the fast-paced fintech sector. The revenue growth, driven by new licensing revenue, suggests a strategic shift towards scalable business models. However, the offset by lower merchant processing revenue indicates possible competitive pressures or a shift in business focus. Investors should consider the sustainability of the licensing model and the potential for further revenue diversification.

AppTech's strategic partnership with InstaCash and its expansion into Brazil and Mexico show proactive efforts to capture emerging market opportunities. This could signal future revenue streams but also comes with inherent risks associated with international expansion, such as regulatory hurdles and localization challenges.

The acquisition of FinZeo positions AppTech as a Payment Facilitator, which could streamline operations and enhance service offerings. The potential to become the fintech solution for credit unions is significant, given the size of the credit union market. However, the success of this initiative will depend on seamless integration and adoption by the credit unions.

AppTech's move to develop mobile and web-based applications for contactless payments aligns with current market trends towards digital and mobile banking solutions. Visa/MasterCard sponsorship could enhance consumer trust and adoption rates. The equity stake in InstaCash could provide strategic leverage and an additional revenue source if InstaCash's mobile payment system gains traction.

The announcement of Reno-Tahoe International Airport adopting the FinZeo platform is a noteworthy client win, potentially serving as a case study to attract other airports. The agreement to provide FinZeo platform services to a widespread credit union network suggests a targeted approach to penetrate the traditional banking sector, which could disrupt legacy banking systems if successful.

The extension of AppTech's license to Brazil and Mexico introduces a complex regulatory landscape that the company must navigate. Compliance with international financial regulations and data protection laws will be critical for the successful implementation of their payment system in these markets. Additionally, the equity stake in InstaCash implies a shared responsibility and potential legal implications in the event of operational challenges or disputes.

As a Payment Facilitator, AppTech assumes greater liability for transaction security and compliance. The FinZeo API's ability to integrate with software providers must align with industry standards for data security, such as PCI DSS, to mitigate the risk of data breaches and ensure consumer protection.

CARLSBAD, Calif., April 01, 2024 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (NASDAQ: APCX), a pioneering Fintech company powering frictionless commerce, disclosed its financial outcomes for the fiscal year ended December 31, 2023. Comprehensive financial details and the 10-K report are accessible on the SEC website at

Fiscal Year 2023 Financial Highlight 

  • Revenue was approximately $504 thousand for the year ended December 31, 2023, compared to $450 thousand for the year ended December 31, 2022, representing an increase of 12%. The increase was principally driven by the new licensing revenue and offset by lower merchant processing revenue.

Recent Business Highlights 

  • Entered a strategic partnership to build, develop, launch, and manage InstaCash, Inc.’s mobile-to-mobile payment system, and subsequently extended the license to Brazil and Mexico. AppTech will develop mobile and web-based applications for the contactless payment system, which will feature digital banking services and Visa/MasterCard sponsorship and provide user support services. As part of the partnership, AppTech will receive an equity stake in InstaCash
  • Executed a strategic acquisition of FinZeo, a global software development company centered around the movement of money. FinZeo’s API enables AppTech to efficiently integrate with software providers and Independent Software Vendors (ISVs), facilitating rapid technology implementation. The onboarding process for ISVs will be streamlined with the support of video tutorials, a dedicated customer center, and a sandbox API environment. With the assimilation of FinZeo, AppTech evolves into a Payment Facilitator (PayFac), propelling the company’s aggregation model 
  • Announced Reno-Tahoe International Airport as the first international airport to adopt its newly-acquired FinZeo platform
  • Announced it has signed an agreement to provide its FinZeo™ platform services to a credit union network with over 2,000 locations. Platform integration is expected to begin in March with completion anticipated in Q2 2024. Following its launch, the FinZeo credit union offering is expected to be available to credit unions nationwide, positioning it as the Fintech platform of the future for credit unions and legacy banks

Management Commentary 

Luke D’Angelo, AppTech CEO commented, “As we move into 2024, we remain focused on leveraging the robustness of our platform to attract and onboard a diverse client base, driving significant advancements in revenue and operational effectiveness. The ongoing strength of our financial standing, bolstered by our recent tactical capital raise, empowers the Company to pursue a strong slate of strategic mergers and partnerships, further amplifying our growth trajectory and delivering increased long-term shareholder value. The journey ahead is promising, and we are poised to seize the opportunities that lie before us to cement our standing as innovators and leaders in the global Fintech sector.” 

About AppTech Payments Corp 
AppTech Payments Corp. (NASDAQ: APCX) provides digital financial services for financial institutions, corporations, small and midsized enterprises (“SMEs”), and consumers through the Company’s scalable cloud-based platform architecture and infrastructure, coupled with our Specialty Payments development and delivery model. AppTech maintains exclusive licensing and partnership agreements in addition to a full suite of patented technology capabilities. For more information, please visit

Forward-Looking Statements   
The information contained herein includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, among others, statements regarding the proposed public offering, and the timing of the offering. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “plan,” “believe,” “intend,” “look forward,” and other similar expressions among others. These statements relate to future events or to the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to the Company’s operations, results of operations, growth strategy and liquidity. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s most recent Annual Report on Form 10-K and other filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s website at Except as may be required by applicable law, the Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact 
Scott Arnold

AppTech Payments Corp. 


What was AppTech Payments Corp.'s revenue for the fiscal year 2023?

AppTech Payments Corp. reported revenue of approximately $504 thousand for the fiscal year 2023, representing a 12% increase from the previous year.

What strategic partnerships did AppTech announce?

AppTech announced a strategic partnership with InstaCash, Inc. to develop a mobile-to-mobile payment system and extended the license to Brazil and Mexico. The company also acquired FinZeo, a software development company.

What agreements did AppTech secure?

AppTech secured agreements with Reno-Tahoe International Airport to adopt its FinZeo platform and with a credit union network with over 2,000 locations to provide FinZeo platform services.

What is AppTech's CEO's focus for the future?

AppTech's CEO, Luke D'Angelo, emphasized the company's focus on leveraging its platform to attract a diverse client base, drive revenue growth, and pursue strategic mergers and partnerships to enhance shareholder value.

AppTech Payments Corp.


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About APCX

apptech is a financial services and information technology company. with electronic payments at its core, the company offers an array of service lines to both business and consumer markets through its branded subsidiaries, transcendent one and transtech one. the company focuses on patented mobile technologies to compliment its product and service offerings. transcendent one is the first and only merchant-owned credit card processing company that offers its merchants shares in our company based on merchant processing volume. the company is a provider of merchant services, including credit card processing, electronic check & ach processing, gift & loyalty card programs, and merchant cash advance services. transtech one offers commercial and residential it services through its regional transtech one retail service centers. the company prides itself as the only information technology services company that offers merchant services and vice versa. headquartered in carlsbad, ca the compa