Hank Payments Corp (TSXV:HANK) signs five-year enterprise licensing agreement

• Hank Payments Corp (HANK) has signed a five-year licensing agreement with a U.S.-based consumer payment management company
• The customer will utilize the Hank Payments platform and industry-leading, proprietary software to manage its enrolment and consumer servicing components
• Michael Hilmer, Chairperson and CEO of Hank sat down with Coreena Robertson to discuss the agreement
• Hank is a Fintech software-as-a-service company that supports consumer budgeting and cash management automation
• Hank Payments Corp. (HANK) opened trading at $0.125

Hank Payments Corp (HANK) has signed a five-year licensing agreement with a U.S.-based consumer payment management company.

Under the terms of the licensing agreement, the customer will utilize the Hank Payments platform and software to manage its enrolment and consumer servicing components.

The customer’s existing portfolio consists of over 20,000 active users. It adds between 400 and 1,000 new active users each month, which is expected to increase based on access to the Hank platform.

The unnamed customer will utilize Hank’s payment platform to manage its entire existing customer base and pay a monthly recurring fee for all active users on the customer platform, providing a reliable, steady fee income stream to Hank.

Michael Hilmer, Chairperson and CEO of Hank, sat down with Coreena Robertson to discuss the agreement.

“We signaled that we were working on key Enterprise deals and are delighted to announce this exciting new partnership that is expected to perform above our existing recurring per user revenue and in line with Hank’s exceptional gross margin profiles. The power and beauty of the Hank Payments Platform is that it brings to the consumer payment management industry a very high level of automation and discipline historically lacking with respect to cash and payment management solutions. Traditional solutions have tended to be high-touch and much less automated than required be to be effective, resulting in much of the onus still remaining on the consumer to be personally disciplined enough to execute their plans, however, it is this very lack of personal discipline which has resulted in many consumers struggling with their cash flows in the very first place. We are extremely excited about the size of this new market vertical for us and the opportunities we are working on.”

Hank is a Fintech software-as-a-service (SaaS) company that supports consumer budgeting and cash management automation.

Hank Payments Corp. (HANK) opened trading at $0.125.