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Kvanto Receives Payment Processing Contract From Major Telco Expected to Add Approximately CAD $2,800,000 in Revenue Annually

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KVANTO TO SUPPLY EFFICIENT DIGITAL PAYMENT SOLUTION TO DRIVE MAJOR TELCO’s GLOBAL EXPANSION, PROVIDING GLOBAL CUSTOMERS WITH EASY PAYMENT PLATFORM

COPENHAGEN, Denmark, Dec. 11, 2020 (GLOBE NEWSWIRE) -- Kvanto Payment Services A/S (“Kvanto”) is pleased to announce the signing of a contract with a major Telco mobile network operator (“MNO”) that is expected to generate approximately CAD $2,800,000 in additional revenue in the first 12 months of the contract start. Kvanto has implemented its payment gateway within the MNO, completed the testing and is expected to go live in early 2021. The Kvanto payment solution allows a swift and efficient solution to all of the Telco’s customers globally when they are making payments on invoices. The customers will also benefit by avoiding costly international banking fees when making their payments.

With Kvanto’s gateway, global reach and connections, alongside the platform’s flexibility, the Telco will be able to reach further away markets, thereby expanding and increasing their clientele.

“The implementation of this contract has proven Kvanto to be a capable payment solutions provider for a major global company, we have the solution and can compete,” explained Jesper Skorstengaard, CEO of Kvanto, who further added, “This is a milestone for the company as the expected revenue from this contract should put Kvanto into a positive cashflow position.”

The Kvanto payment solution can be utilized by companies internationally, allowing their customers to pay by card in their foreign currency, currently offering either USD or EUR. Kvanto can provide businesses with a payment gateway system that is linked in with the business’ platform, allowing customers to pay their invoices via a self-service platform.

Due to contracting confidentially, the Telco’s name cannot be provided at this time.

About Kvanto Payment Services:

Kvanto commenced operations in 2012 to compete in the rapidly changing digital payment solutions market. Client adoption proves Kvanto has the solutions to compete.

Kvanto has positioned itself as a premium European multi-connectivity payment service provider (holding a PSP-ISO), with a world-recognized payment gateway which integrates leading acquirers who handle different payment methods and payment cards linking to online and offline business efficiently, affordably and reliably.

The Kvanto organization boasts several decades of experience within the payment and financial industries. It’s extensive network of partners and collaborators across the world and is one of the key reasons why Kvanto is able to provide customers with a payment solution no matter where they operate from.

Kvanto Payment Services AS based in Denmark is a 100% operating subsidiary owned by Kvanto Payments Services Ltd in Canada.

For Further Information Contact:  

Kvanto Payment Services A/S                       

CEO, Jesper V. Skorstengaard                          

Phone: +45 40 33 33 96

Mail: jvs@kvanto.com

www.kvanto.com

Disclaimer

All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Kvanto Payment Services A/S is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise. actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Kvanto Payment Services A/S is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.


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