Paltalk, Inc. Engages With Cleverbridge to Serve International Markets

Cleverbridge Optimizes Paltalk’s Geographic Reach With Global Payment Processing Capabilities

JERICHO, NY, Sept. 28, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Paltalk, Inc. (“Paltalk,” the “Company,” “we,” “our” or “us”) (Nasdaq: PALT), a communications software innovator that powers multimedia social applications, is pleased to announce its engagement of Cleverbridge, a growth engine for global technology companies. Cleverbridge’s robust suite of global payment and eCommerce capabilities empowers Paltak to optimize international geographic markets while minimizing risk and administrative work.

Paltalk and Camfrog both attract a demographically and geographically diverse user base, with users in over 180 different countries. Paltalk users are domestic and international, and Camfrog users have an even larger international presence, with a particular concentration in Southeast Asia.

Wendi Sturgis, CEO of Cleverbridge, stated, “We are impressed with Paltalk’s offerings and look forward to assisting them in strengthening their foothold internationally. We expect that our 50+ payment methods and 59 transaction currencies will enable Paltalk to seamlessly grow their international markets while providing subscribers with unparalleled flexibility throughout the checkout process. With our fraud detection and chargeback prevention capabilities, Paltalk can protect and recover recurring revenue while limiting any risk exposure.”

Jason Katz, Chairman and CEO of Paltalk, commented, “Cleverbridge is an ideal company for us to work with, with nearly two decades of payments’ experience and excellent fraud detection. Beyond facilitating and authenticating payments, we believe Cleverbridge can help us increase our acceptance rates and reduce fraud at a global scale. Its chargeback prevention algorithms have earned it one of the highest trust scores in the payment processing industry. We are pleased to offer such outstanding capabilities to our current and prospective international subscribers, particularly in Europe.”

ABOUT PALTALK, INC. (Nasdaq: PALT)

Paltalk, Inc. is a communications software innovator that powers multimedia social applications. Our product portfolio includes Paltalk and Camfrog, which together host a large collection of video-based communities. Our other products include ManyCam, Tinychat and Vumber. The Company has an over 20-year history of technology innovation and holds 10 patents. For more information, please visit: http://www.paltalk.com.

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ABOUT CLEVERBRIDGE, GmbH

Cleverbridge makes it easy to maximize customer lifetime value. Cleverbridge leverages deep eCommerce expertise to orchestrate and automate frictionless self-service transactions across the entire customer journey, empowering customers to purchase, renew, and expand subscriptions in 248 countries and territories globally. For more than 18 years, Cleverbridge's Growth Engine has integrated payments with tax and compliance management, retention marketing, advanced analytics, and partner ecosystems to consistently deliver recurring revenue growth without added headcount. Learn more at grow.cleverbridge.com.

FORWARD-LOOKING STATEMENTS:

This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," or similar words.  Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, any economic recession and the overall inflationary environment on our results of operations and our business; our ability to effectively market and generate revenue from our applications; our ability to generate and maintain active users and to effectively monetize our user base; our ability to penetrate new and existing markets, including international markets; our ability to improve, market and promote the ManyCam software; our ability to retain the listing of our common stock on The Nasdaq Capital Market; our ability to release new applications or improve upon or add features to existing applications on schedule or at all; risks and uncertainties related to our increasing focus on the use of new and novel technologies to enhance our applications, and our ability to timely complete development of applications using new technologies; our ability to effectively compete with existing competitors and new market entrants; our ability to effectively secure new software development and licensing customers; our ability to protect our intellectual property rights; the use of the internet and privacy and protection of user data; our ability to consummate favorable acquisitions and effectively integrate any companies or properties that we acquire; and our ability to manage our partnerships and strategic alliances. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission ("SEC"), including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's website at www.sec.gov.

All forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement was made, except to the extent required by applicable securities laws.

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