- GreenBox is adding strategic partners, customers and employees to prepare for growth
- New applications for GRBX services have already exceeded 2019 goal of $1 billion in annual processing volume
- The company’s proprietary blockchain technology allows processing of secure, real-time cashless transactions
- Earlier this year, GRBX acquired Sky Mids Technologies, boosting its volume and growth capacity
GreenBox POS, LLC (OTC: GRBX) is gearing up for a banner year in 2019, when the company expects to reach its goal of $1 billion in annual payment processing volume. GRBX is aggressively adding strategic partners, growing its customer base and boosting employee headcount in preparation for record growth on the horizon.
“GreenBox will continue to add to its roster of strategic partners in order to achieve the processing bandwidth it needs to support the business of its growing customer base,” Ben Errez, executive vice president of GRBX, stated in a press release. “We have new applications for our services in a total amount that far exceeds our 2019 goal of $1 billion in annual processing volume. As such, we need to grow our bandwidth accordingly.”
The company recently announced that it had initiated a new banking relationship, as well as on-boarding and processing accounts volume of more than $50 million annually. GRBX has the option to boost the processing volume for these accounts alone to $100 million by the second quarter of 2019. GreenBox is also recruiting for careers at all levels in anticipation of the rapid processing volume growth (http://ccw.fm/5UnW8).
The company’s rapid growth is driven by market adoption of its proprietary technology, which has GRBX well positioned in multiple rapid growth sectors, including the global payments industry, which is forecast to record revenues of $2.2 trillion as soon as 2020; the financial technology industry, estimated to grow at nearly 55 percent CAGR through 2020; and the global point-of-sale terminals market, which is projected to hit a value of $116 billion by 2025 (http://ccw.fm/8lW0T).
Advanced blockchain technology allows GreenBox to securely process cashless transactions in real-time for all kinds of businesses. Merchants receive payment the moment a transaction occurs. The company’s payment processing solutions provide a highly customizable, end-to-end payment network designed to lower transaction costs, reduce fraud and provide stronger compliance with government regulations. For consumers, the company’s QuickCard e-wallet is a mobile app powered by blockchain technology that allows quick, easy and secure cashless payments.
GreenBox’s TrustGateway technology has proven highly effective in preventing fraud for transactions processed on the company’s payment platform. Because it owns the blockchain payment system in its entirety, GRBX has a competitive advantage in fraud prevention. There have been no successful penetrations of the GreenBox platform’s defensive walls to date, and none of the company’s customers lost money or been otherwise harmed through secure transactions across the GRBX platform.
The acquisition earlier this year of Sky Mids Technologies is a significant factor in the company’s capacity for rapid growth. GRBX absorbed the Sky engineering team, technology and book of transactional business. “Following the Sky acquisition, we will be able to accelerate the pace by which the thousands of new business applications are processed, and the best selected to join our ecosystem and enjoy the benefits of our technology,” Errez noted in a news release (http://ccw.fm/nzG4L).
GreenBox POS uses the company’s proprietary technology to build customized payment solutions for a multitude of industries. GRBX has developed the fastest and safest way to send and process money using blockchain technology and has been awarded five provisional patents. The company develops the following main products: POS (point of sale software and hardware solutions); DEL (delivery app, APIs to POS and PAY); PAY (payment app, providing financial APIs to all other components); and KIOSK (deposit, cash and E-wallet management). GreenBox POS is based in San Diego with offices in Seattle, Las Vegas, and Vancouver, British Columbia.
For more information, visit the company’s website at www.GreenBoxPOS.com
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