GreenBox (NASDAQ: GBOX), an emerging fintech company leveraging proprietary blockchain security and token technology to build customized payment solutions, has launched a significant new payment vertical. The new option offers bulk Automated Clearing House (“ACH”) processing abilities to merchants. GBOX can transfer funds electronically for ACH debit and ACH credit transactions using its blockchain and smart-contract technology. The new payment option represents a significant move. In 2020 the ACH Network processed 26.8 billion payments that totaled more than $61.9 trillion. Payments included direct deposit via ACH of salaries, dividends and Social Security and other government benefits, as well as direct payment via ACH for bill payments including utilities and mortgages. Other covered payments include charitable giving, tuition, subscription services, and person-to-person (“P2P”) and business-to-business (“B2B”). According to the announcement, response to the new option is favorable. GreenBox clients have already committed to more than $50 million in monthly ACH processing, and the number is climbing. “ACH bulk processing offers a profitable new, multimillion-dollar revenue stream for GreenBox,” said GreenBox POS CEO Fredi Nissan in the press release. “Our clients have long been demanding it and now we can offer it with our superb technology. This is yet another example of GreenBox delivering against our strategic plan to continue providing meaningful value to our shareholders and customers alike.”
To view the full press release, visit https://ibn.fm/C1VEE
About GreenBox POS
GreenBox is an emerging financial technology company leveraging proprietary blockchain security and token technology to build customized payment solutions. The company’s applications enable an end-to-end suite of turnkey financial products and fraud detection as well as improve the efficiency of handling large-scale commercial processing volumes for its merchant clients. For more information about the company, please visit www.GreenBoxPOS.com.
NOTE TO INVESTORS: The latest news and updates relating to GBOX are available in the company’s newsroom at https://ibn.fm/GBOX
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