Consecutive months of record processing volume propel company past $100m quarterly milestone in best quarter ever
SAN DIEGO, CA / ACCESSWIRE / December 28, 2020 / GreenBox POS (OTCQB:GRBX) ("GreenBox", the "Company"), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions, announced the company has processed over $100 million in transactions in one quarter for the first time in company history. GreenBox processed more transaction count and transaction dollar volume during the 4th quarter of 2020 than it did during the first three quarters of the year combined.
As the Company's blockchain ledger-based payment solutions have gained adoption this year and new merchants onboarded, processing volume has skyrocketed. Processing volume is the primary source of GreenBox revenue, which is residual based. The Company attributes this growth to the platform ease of use, growing banking and processing networks, and from first production modules for its upcoming Generation 3 technology integrated in its ecosystem.
"We are pleased to announce this important milestone for GreenBox as we continue to see results from our early 2020 re-launch efforts, which allowed us to add key features and scalability to our second-generation platform." said Fredi Nisan, Chief Executive Officer of GreenBox POS.
About GreenBox POS
GreenBox POS (OTCQB:GRBX) is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The Company's applications enable an end-to-end suite of turnkey financial products, reducing fraud and improving the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, please visit the Company's website at www.greenboxpos.com.
Forward-Looking Statements Disclaimer
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set out in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
Investor Relations Contact
Mark Schwalenberg
MZ Group - MZ North America
312-261-6430
GRBX@mzgroup.us
www.mzgroup.us
SOURCE: GreenBox POS
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