- GreenBox POS is an advanced blockchain technology payment solutions provider focused on expanding its FinTech portfolio through strategic acquisitions in the United States and internationally
- The company acquired key assets during 2021 that demonstrate its commitment to expand its balance payment solutions for point-of-sale retail as well as e-commerce opportunities
- GreenBox announced this month that it has reached a binding agreement to acquire a licensed payment institution in the United Kingdom to further its debit and credit card payment processing abilities
- One of the company’s subsidiaries, ChargeSavvy, further highlighted the success of GreenBox’s strategy by announcing that it recorded a record 166 percent increase in its retail division’s book of business during the fourth quarter
- GreenBox has increased its funding options for repurchasing its common shares as a boon to shareholders and a display of the company’s confidence in its opportunities for 2022
Proprietary blockchain security and token technology-focused FinTech company GreenBox POS (NASDAQ: GBOX) is entering 2022 with expectations for another breakout year for customized payment solutions following successful bank and acquisition building campaigns during recent months.
“Strategic acquisitions are already slated for 2022, so you all can expect to see a lot more of that in the year to come,” GreenBox’s Chief Operating Officer Vanessa Luna told investors during a corporate update call Dec. 9 (https://ibn.fm/fRMqX). “We’ll continue expanding our licensing and broadening our network and processing capabilities.”
“Accumulating an array of technologies is vital to our long-term growth strategy, as GreenBox further progresses toward global expansion,” Chief Business Development Officer Pouya Moghavem stated.
GreenBox’s July acquisition of point-of-sale company ChargeSavvy was GreenBox’s first major purchase that entailed an integration of the team, culture and operations of its new subsidiary, and the transaction granted ChargeSavvy a strong merchant client portfolio and point of sale technology, poising the division to grow into new categories where the same technology can be applied.
Subsequently, ChargeSavvy recorded an average 166 percent increase YOY in its retail division’s book of business during the fourth quarter of 2021 — the best quarter in its nine-year history, according to the company (https://ibn.fm/mKQ3H).
GreenBox is working to strengthening its standing with Visa and Signature Bank by establishing a well-balanced portfolio between point-of-sale retailers and e-commerce, onboarding low-risk merchants and eventually more high-margin clients, Luna and President of Global Payments Ken Haller told GreenBox’s investors during the December update call.
That will in turn create opportunities for monetization through NFTs, card issuing, bank as a service, and blockchain closed loop systems.
“Earlier in the year we purchased a payment processing company in Boston, allowing us to place merchant accounts on our own BIN. BIN is a high-level license in the U.S. that gives us great control and flexibility in onboarding merchants,” Haller said. Luna highlighted an exclusive joint venture in American Samoa that serves as a model market for FinTech payment solutions for island-type ecosystems around the world.
As further evidence of GreenBox’s self-assurance in its growth strategy and pending opportunities, the company announced Jan. 6 a “substantial increase in the funds allocated for the immediate repurchase of the Company’s common shares, in the initial sum of $10M” (https://ibn.fm/V2drr).
The company previously repurchased about 800,000 shares during the second half of 2021.
For more information, visit the company’s website at 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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