What Veritec Inc does

Veritec Inc. (OTCQB: VRTC) is a Nevada-incorporated public technology company founded in 1982 that operates a portfolio of three proprietary products anchored in secure identification and payment processing: VeriCode®, a customizable 2D barcode technology that operates online and offline and can be marked directly on materials; blinxPay™, a centralized digital wallet aggregating bank, debit, credit, membership, and ID cards with PCI-DSS compliance and a stated 99.95% uptime; and Tangible Payments, a payment gateway offering ACH, debit, and credit card processing with automated billing for merchants and ISOs/ISVs. The company historically references high-trust applications including NASA space shuttle and U.S. Air Force identification systems, and more recently has repositioned its commercial focus toward digital wallets and payment infrastructure. The go-to-market combines direct enterprise sales for Tangible, a self-serve consumer channel for blinxPay, and a flagship April 2026 strategic white-label partnership with LancePay (LA Unifi LancePay) under which Veritec licenses blinxPay technology for a co-branded Duo-Card targeting global travelers, tourists, and tourism businesses, with simultaneous Apple App Store and Google Play releases planned within an 8–12 week integration window. Revenue is structured around six transaction-linked streams — transaction fees, interchange, foreign exchange spreads, card issuance, wallet services, and gateway fees — with the bulk of forward economics dependent on LancePay-led distribution and merchant adoption. Veritec has 11–50 employees, trades on OTCQB, and discloses no current revenue, funding rounds, M&A activity, or named institutional shareholders.

Name

Veritec Inc

Legal name

Veritec Inc.

Website

https://veritecinc.com

Company type

Public

Founded year

1982

Operating status

Operating

Headcount range

11–50 employees

Short description

Veritec Inc. (OTCQB: VRTC) is a public technology company that licenses proprietary 2D barcode (VeriCode), digital wallet (blinxPay), and payment gateway (Tangible) products, most recently powering the LancePay-distributed Duo-Card for global travel and tourism payments.

Ownership category

akta.pro rank

Product category

Payment Technology

NAICS

Credit Card Issuing (522210), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

QR Code Payments Wallets (FSAMAEAC)

akta.pro secondary industries

Risk, Fraud & 3DS Orchestration for Payments (FSAGABAL), Payment PIN Pads, Card Readers & NFC Contactless Devices (HDACAKAG)

Keywords

• Secure identification technology
• Digital wallet platform
• Payment gateway services
• 2D barcode technology
• Prepaid debit cards

Headquarters

HQ city

Jacksonville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Transaction Fees: Revenue sharing from transaction fees processed through the white-labeled mobile wallet platform for peer-to-peer, consumer-to-business, and business-to-business transactions.
2. Interchange Revenue: Revenue share from interchange fees on card transactions processed through the Duo-Card and digital wallet.
3. Currency Exchange Spreads: Revenue from foreign exchange spreads on cross-border money transfers for travelers and tourism businesses.
4. Card Issuance: Revenue from physical and virtual card issuance for the Duo-Card product.
5. Wallet Services: Revenue from wallet services including account management, fund transfers, and rewards programs.
6. Payment Gateway Fees: Competitive pricing for payment processing services through Tangible gateway including ACH, debit, and credit card transactions with automated billing.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Veritec Inc. develops and sells proprietary secure identification and payment technologies through three main products: VeriCode®, a customizable 2D barcode technology for secure identification; blinxPay™, a centralized digital wallet platform connecting bank, debit, credit, membership, and ID cards with instant transfers and rewards; and Tangible Payments, a payment gateway offering real-time ACH, debit, and credit card processing with automated billing for merchants and ISOs/ISVs.

Product overview

Veritec Inc. is a technology company offering a portfolio of three main proprietary products: (1) VeriCode®, a customizable 2D barcode technology originally developed in 1982 that preceded QR codes and Data Matrix; (2) blinxPay™, a centralized digital wallet platform for managing cards and transacting; and (3) Tangible Payments, a payment gateway for merchants. The products serve secure identification and financial transaction needs across government, banking, education, and commercial sectors.

Differentiator

Problem solved

Functional benefit

Brands

• VeriCode®: Customizable 2D barcode technology for secure identification that encodes data in 2D codes which can only be generated, scanned (online AND offline), updated, and deleted by authorized persons.
• blinxPay™
• Tangible Payments

Products and services

• VeriCode® VeriCode® is a customizable 2D barcode technology that encodes data in secure 2D codes capable of being generated, scanned (online and offline), updated, and deleted only by authorized persons. It operates independently of internet connectivity and can be directly marked on various materials, serving banks, schools, businesses, governments, and other institutions needing secure identification.
• blinxPay™ blinxPay™ is a centralized digital wallet that connects bank, debit, credit, membership, and ID cards, enabling fund deposits, instant wallet transfers, and transaction rewards. It supports customizable accounts for businesses with real-time sales and spending tracking, and operates a closed-loop payment network with 99.95% uptime.
• Tangible Payments Tangible Payments is a payment gateway solution enabling merchants and businesses to accept electronic payments including ACH, debit, and credit card transactions. It features real-time processing and automated billing and invoicing services at competitive pricing, designed for ISOs and ISVs seeking alternatives to incumbent payment processors.
• Duo-Card powered by blinxPay™ Duo-Card is a next-generation dual-function digital payment and money transfer card combining prepaid debit with mobile wallet functionality for travelers, tourists, and tourism businesses globally. It is white-labeled through LancePay and powered by blinxPay technology with embedded identity verification and PCI-DSS compliance.

Quantifiable outcome

• 99.95 percent platform uptime
• +1 more outcomes

Named customers2 records

Segments7 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• LancePay (LA Unifi LancePay)coreStrategic or Co-development Partner · 6 April 2026Strategic partnership and licensing agreement to launch the Duo-Card, a next-generation digital payment and money transfer solution powered by Veritec's blinxPay technology. Veritec provides the white-labeled mobile wallet platform with embedded identity verification, PCI-DSS compliance, and 99.95% uptime. LancePay handles market adoption, merchant onboarding, and customer support. Revenue sharing covers transaction fees, interchange, currency exchange spreads, and card issuance. First market rollout within 8-12 weeks with simultaneous app store releases.

Scale indicators4 records

Recent moves4 records

Expansion highlights5 records

Broad incumbents

• Stripe: Stripe powers online payment acceptance for ISVs and merchants globally, the same buyer cohort that Tangible targets. Comparable as an incumbent in payment gateway infrastructure, although Veritec differentiates on automated billing and competitive pricing rather than developer APIs.
• Revolut: Revolut combines a multi-currency digital wallet, debit card issuance, and P2P transfers for global travelers and expats. Mirrors Veritec's Duo-Card product positioning toward the international traveler and tourism segment, but at substantially greater scale and regulatory depth.
• Google Pay: Google Pay is the Android-native wallet and P2P payments offering. Directly comparable to blinxPay on the consumer mobile wallet dimension, but backed by Google's distribution, identity, and Android-level APIs that Veritec cannot match.
• Wise (TransferWise): Wise offers cross-border money movement for travelers and tourists with multi-currency wallet functionality, precisely the user pain Veritec's Duo-Card/blinxPay addresses. Comparable on the FX spread economics, multi-currency holding, and traveler persona even though Wise operates at much greater scale.
• Block (Square + Cash App): Block's Cash App is a consumer wallet and Square is a merchant payment gateway; the combined franchise directly overlaps Veritec's blinxPay and Tangible offerings. Included as a broad incumbent rather than direct peer because Block operates at scale and serves general SMB and consumer needs far beyond travel.
• PayPal Holdings (Venmo): PayPal operates Venmo and PayPal digital wallets plus Braintree payment gateway. Relevant because it spans the same wallet-plus-payment-gateway verticals that Veritec's blinxPay and Tangible target, but at vastly larger scale and consumer reach.
• Apple Pay: Apple Pay is the dominant NFC mobile wallet on iOS and competes head-on with blinxPay for in-store and in-app wallet share. Relevant as the benchmark wallet incumbency that Veritec must differentiate against, though Apple Pay is not a white-label OEM platform.

Direct peers

• Verifone: Verifone builds payment terminals and secure payment acceptance hardware used by merchants worldwide, directly comparable to Veritec's physical identification/secure-card hardware dimension via VeriCode. Although Verifone is larger, it is the most natural peer for the secure-identification-on-payment-hardware thesis that Veritec's VeriCode product advances.

Emerging players

• NXT-ID / AppSwarm (now dbaXero): NXT-ID historically combined secure mobile identity with payment card and wallet products, an unusually close adjacency to Veritec's VeriCode + blinxPay + Tangible combination. Comparable as a small-cap identity-and-payments hybrid, though their commercial traction has lagged Veritec's.
• Remitly Global: Remitly is a digital cross-border remittance and mobile wallet app targeting immigrants and travelers sending money across borders. Overlaps with Veritec's blinxPay/Duo-Card customer segment on cross-border P2P and consumer-to-business flows, though Remitly is more remittance-specialized.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Veritec Inc