- GRBX expects to ship enough new integrated hardware and software units to bring $750,000 in monthly net income by year-end
- GreenBox has a goal of processing $1 billion of transactional volume in FY2019
- The company recently acquired Sky Mids Technologies, boosting its volume capacity
- GRBX is well positioned in multiple rapidly growing sectors, including payments processing, fintech and secure point of sale terminals
Fresh off deployment of its latest blockchain-based hardware and software to payments solutions clients, GreenBox POS, LLC (OTC: GRBX) is focused on ramping up transaction volume. GreenBox plans to ship enough of its newest TrustGateway units pre-installed with the company’s software by year-end to generate transaction volume that’s projected to contribute $750,000 per month to net income.
“We continue to work on increasing bandwidth and speed of transactional volumes,” Ben Errez, executive vice president of GreenBox, stated in a news release. “The demand for our services far exceeds our initial projections. We owe it to our clients to accommodate their growing needs safely, securely and efficiently.”
The company has even bigger ambitions for next year, when its expects to process more than $1 billion of transactional volume (http://nnw.fm/B1as5).
Integral to the GreenBox effort to reach that milestone is the company’s recent acquisition of Sky Mids Technologies. The deal allowed GRBX to absorb Sky’s engineers, 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://nnw.fm/R0WkD).
GreenBox’s TrustGateway technology is highly effective in preventing fraud for all 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. To date, there have been no successful penetrations of the GreenBox platform’s defensive walls. Nor have any of the company’s customers lost money or been otherwise harmed through secure transactions across the platform.
GRBX’s technology and growth have it well positioned in multiple rapidly growing industries, including the global payments sector, projected to reach $2.2 trillion by 2020; the financial technology sector, forecast to grow at nearly 55 percent CAGR through 2020; and the global point of sale terminals market, estimated to have a value of $116 billion by 2025 (http://nnw.fm/u6lPG).
GreenBox POS uses the company’s proprietary technology to build customized payment solutions for a multitude of industries. GreenBox POS 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). GRBX is based in San Diego with offices in Seattle, Las Vegas, and Vancouver, BC.
For more information, visit the company’s website at www.GreenBoxPOS.com
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