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Texada Software, a wholly-owned subsidiary of Noble Iron (TSX Venture: NIR), announced today it processed over $74 million in total transaction volume in 2021 through Texada Pay, the company’s payment processing product. This represents more than 300% growth over the $23 million processed in 2020. During 2021, Texada Pay ramped up to achieve a record payment processing volume of $12.2 million in a single month in Q4 2021. Texada Pay enables secure transaction payment processing and is integrated directly into Texada’s software platform that helps equipment rental companies, dealerships, construction companies and other asset management businesses to optimize operations.
“The rapid growth of Texada Pay demonstrates how important integrated payment processing has become for Texada’s rental management platform.” commented KJ Park, Head of Growth and Strategy at Texada Software. “The ease with which a rental company can save credit card information and collect payments online, automate recurring payments through cycle billing, improve accuracy in bank reconciliations, and offer self-service payment options, demonstrates the tremendous value that Texada Pay can provide to our clients and their customers. We expect to see more growth and adoption of Texada Pay in 2022 and beyond.”
Noble Iron is a technology company that offers software applications and services to construction, industrial and other equipment rental companies, owners, and users to manage their business and assets’ life cycle.
Texada Software, a wholly-owned subsidiary of Noble Iron, offers cloud or client-based software applications for equipment rental companies, equipment dealerships, construction companies, general contractors, and equipment operators, including mechanics, logistics managers and service technicians. Texada’s products manage the entire asset lifecycle, including equipment purchasing; rental and sales transactions; inventory location, utilization, maintenance and depreciation tracking; used equipment sales and disposals analysis; and inventory replenishment analysis. Texada is the provider of industry-leading technology FleetLogic, a mobile field service and logistics management platform; SRM (Systematic Rental Management), a complete management software for scaling rental businesses; Texada Pay, a payment processing platform; and GateWay, an online store and mobile e-commerce app for customers and sales teams. For more information, visit www.texadasoftware.com or call 1(800) 361-1233.
Noble Iron can be reached at www.nobleiron.com/contact-us.
Corporate communications contacts:
Mariam Chaudhry
Chief Financial Officer
t: (226) 962-2718
e: mariam.chaudhry@nobleiron.com
Nabil Kassam
Founder, Chairman & CEO
t: (650) 766-9177
e: nabil@nobleiron.com
This news release may contain forward-looking statements which reflect the Company’s current expectations regarding future events. The forward-looking statements are often, but not always, identified using words such as “seek”, “anticipate”, “plan”, “estimate”, “expect”, “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industries in which the Company participates; others are more specific to the Company. The Company’s ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events, or otherwise, other than as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
