Wishpond Launches Payments Product
Wishpond adds new payment features creating new revenue streams for the company and its customers.
VANCOUVER, BC, February 23, 2021 – /CNW/ – Wishpond Technologies Ltd. (TSXV: WISH) (“Wishpond” or the “Company”), an emerging leader in digital marketing solutions that empower entrepreneurs and businesses to achieve success online, is pleased to announce the launch of Wishpond Payments, a new service enabling the Company’s 2,000+ customers to sell and collect payments directly through landing pages. Wishpond Payments represents a new revenue stream for the Company and allows Wishpond to expand its service offering to a growing number of small business operators. Using Wishpond’s drag and drop landing page builder, businesses can set up Wishpond Payments within minutes and start collecting payments immediately, all within Wishpond’s “all-in-one” platform.
“This is a milestone product release for Wishpond which increases the stickiness of our platform and long-term value of our customers,” said Jordan Gutierrez, Wishpond’s Chief Operating Officer. “Entrepreneurs and business owners can now easily set up their businesses online, promote their businesses and start collecting payments or sell subscriptions from one cohesive platform. We continue to see businesses of all sizes selecting Wishpond to accelerate their sales in an increasingly online global economic model.”
Wishpond Payments enables customers to accept instant purchases on their website, unlocking new e-commerce capabilities using the Wishpond platform. With additional features including built-in check-outs, revenue reporting, and subscription management, businesses can allow customers to shop and check out without leaving their landing page or website. The launch of Wishpond Payments is a testament to Wishpond’s commitment to supporting small businesses challenged with maintaining growth due to the impacts of COVID-19.
“Wishpond's payment buttons have been an easy and great way to collect orders and customer information,” said Johnny Tsoumagas, CEO of Pawzzbox, a gift site for dog owners. “It’s a very useful tool that has helped to increase my sales and helped me manage my business better.”
With built-in Stripe integration, Wishpond Payments provides secure, seamless payments for customers with pre-existing Stripe accounts. This feature enables customers to sync Wishpond and Stripe customer databases. Wishpond Payments allows businesses to review sales, subscriptions, and sign-ups in real-time using an all-in-one dashboard.
Wishpond Payments can be accessed at: https://www.wishpond.com/payments/
Issuance of Replacement Stock Options
Further to the Company's qualifying transaction (the "QT") and as disclosed in the Company's filing statement dated November 26, 2020, the Company announces the issuance of an additional 64,879 replacement incentive stock options of the Company each with an exercise price of approximately $0.47472 to an employee of the Company (the "Replacement Options"). The Replacement Options were issued in exchange for 20,000 incentive stock options of Wishpond Technologies Ltd., as it existed prior to the QT, each exercisable at a price of $1.54 previously held by the employee (the "Old Options") and in accordance with the exchange ratio of 3.2439938 in connection with the QT. The Replacement Options will be governed by the terms of the Company's incentive stock option plan and shall expire on February 2, 2023. Upon issuance, 75% of the Replacement Options will immediately vest and 25% of the Replacement Options will vest on February 2, 2022.
About Wishpond Technologies Ltd.
Based out of Vancouver, British Columbia, Wishpond is a provider of marketing-focused online business solutions. Wishpond's vision is to become the leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The Company offers an "all-in-one" marketing suite that provides companies with marketing, promotion, lead generation, and sales conversion capabilities from one integrated platform. Wishpond replaces entire marketing functions in an easy-to-use product, for a fraction of the cost. Wishpond serves over 2,000 customers who are primarily small-to-medium size businesses (SMBs) in a wide variety of industries. The Company has developed cutting-edge marketing technology solutions and continues to add new features and applications with great velocity. The Company employs a Software-as-a-Service (SaaS) business model where substantially all the Company's revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker "WISH". For further information, visit: www.wishpond.com.
ON BEHALF OF THE BOARD
Chairman and Chief Executive Officer
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors – including, but not limited to, the availability of funds, acceptance of the Company's products, competition and general market conditions – that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information
Pardeep S. Sangha,
Investor Relations, Wishpond Technologies Ltd.
Communications, Wishpond Technologies Ltd.