Alexa AppTech: A FinTech company embracing innovative payment processing and digital banking technologies
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AppTech: A FinTech company embracing innovative payment processing and digital banking technologies

AppTech: A FinTech company embracing innovative payment processing and digital banking technologies

Businesses typically view the payment experience as just another customer touchpoint, but shifts in technology have proved that digital payments are bringing a ton of opportunities for businesses to grow faster and more efficiently.

Consumer payments have seen a digital revolution so drastic that people hardly set foot in a bank anymore, and most money transfers can be done via apps and online platforms. Contactless payment is the present, not the future of digital payments.

But business accounting and finance departments are lagging behind when it comes to adopting this payment method. The majority of transactions and processes are still done via highly manual, paper-based methods.

AppTech Payments Corp. is a publicly listed fintech company utilizing innovative payment processing and digital banking technologies to complement their core merchant services capabilities. The company’s patented and proprietary software will provide progressive and adaptable products that are available through a suite of synergistic offerings directly to merchants, banking institutions and business enterprises.

AppTech is developing embedded, highly secure digital payments and banking platform that powers commerce experiences for clients and their customers. Based upon industry standards for payment and banking protocols, we will offer standalone products and fully integrated solutions that deliver innovative, unparalleled payments, banking, and financial services experiences. Our processing technologies can be taken off-the-shelf or tapped into via our RESTful API to build fully branded and customizable experiences while supporting tokenized, multi-channel, and multi-method transactions.

Virgil Llapitan, President of AppTech, will tour us the company

Q. What fintech trend emerged this year that wasn’t on your radar in previous years?

Cryptocurrency does not exist in physical form, it is a tradable digital asset or digital form of money, built on blockchain technology that only exists online. Although it did not emerge this year, it has evolved over the past few years to where there are currently a wide variety of different cryptocurrencies in the world. This evolution is what put cryptocurrency on our radar. We would like to further study this technology to make decisions that will benefit the global financial infrastructure.

Q. What is fintech’s future in banking? 

Fintech has transformed the art of providing world-class financial services. Specifically, it has heightened the pace of evolution and is rapidly reshaping the banking sector by allowing the ease of use to end users. We will begin to see higher customer satisfaction by providing robust solutions to the customer while accommodating our partnerships across the fintech ecosystem. 

A traditional bank pulls companies in by offering them a range of products and services for their business that locks them in and does not allow them to go somewhere else for their payment needs. In contract, the advancement of fintech has focused on earning trust through better customer services including more banking features, ease of use, referral-based client acquisition, and the like.

Q. What is AppTech Payments’ expertise in fraud management?

AppTech’s fraud management is based in business rules management systems in which we analyze our data to actively prevent and fight against fraud, while ensuring profitability.  Digital payments offer many security measures; protected through General Data Protection Regulation (EU GDPR), California Consumer Privacy Act (CCPA), and Personal Identifiable Information (PII).

Additionally, our 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 is your payment service innovative?

Prioritizing payments is critical as the future needs of banking customers evolve. Payment solutions and offerings are key drivers to banks. If proper attention is not given to innovation, it can push end users away. We have a consultative approach when we speak to our customers where we want to understand their payment pains and help find solutions to them.

Launching new products and services is key to staying competitive, but it is not always easy. It is no secret that the pandemic has helped to accelerate the shift to digital payments, but it is not the sole factor. Embedded Payments allows companies to have more control over critical customer experiences. Financial and non-financial entities are realizing that they need to own and improve their payment experiences to meet growing consumer of an enhanced customer experience. 

Q. How has your years of experience helped you ace the industry?

I have over 3 decades in the financial service industry, from retail banking to owning and operating a insurance agency and pioneering one of the first ACH payment providers via an online platform. With our team’s diverse industry knowledge, we were able to bring additional experts that have allowed us to evolve to where the company is today.  

Tell us about the two-way chat system.

AppTech’s“Computer to Mobile Two-Way Chat System and Method” (USPTO 8,315,184) allows for communication from a computer to mobile phone device via SMS text messaging. This or similar technology is most used in social media messenger apps or chat features. When chatting with your friends on your favorite platform, the messages are not moving cellphone to cellphone. Rather, the messages you send through your phone are sent to the app’s computer, processed, and then routed to the receiver’s mobile device.

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. This technology will authenticate the payee and payor when transferring funds between accounts. Validating within our text payment allows us to further integrate third party digital mobile wallets.

Q. How committed are you to adapt technological advancements incessantly?

Adopting innovative technology gives AppTech a competitive advantage. We have proven many times before that everyone at the company is fully committed to technological advancement. We look at change positively as we understand that change is inevitable. Our team plans ahead to stay on top of our customer’s growing needs as we care about the consumer experience. When a company does not have the compacity to adapt to change, especially within the realm of technology, it can lead an extinction of the business. 

Meet the man behind the success of AppTech

Virgil Llapitan has 30+ years in the financial services industry with a background spanning from insurance, banking, and lending. He transitioned into thefintech industry around 2004, during which time he had a hand in developing the original ACH payment processing systems for online merchants Virgil currently resides as President of AppTech Payments Corp., a NASDAQ-listed company.

“Based upon industry standards for payment and banking protocols, we will offer standalone products and fully integrated solutions.”


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