Benzinga | Oct 8, 2021 08:33AM EDT

GreenBox POS Says Surpasses $1B Processing Volume Milestone For 2021

GreenBox POS (NASDAQ:GBOX) ("GreenBox" or the "Company"), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions, announced the company has processed more than $1 billion in transaction volume in 2021, a threshold crossed during the month of August. This represents nearly 5 times the total processing volume for all of 2020.



The launch of the Company's Generation 3 technology, expansion of its ISO and agent network, and acquisitions of ChargeSavvy and Northeast Merchant Services all contributed to driving the exponential processing growth throughout the year.

"This is a monumental milestone for GreenBox POS and demonstrates the Company's successful development and deployment of our one of a kind blockchain ledger-based payment processing technology as well as our expanding agent and partner network," said Fredi Nisan, Chief Executive Officer of GreenBox POS. "To achieve such scale only 16 months since our initial launch is truly a remarkable achievement that we are very proud of. As we continue to execute on our strategy with select acquisitions and the eventual adoption of our Coyni smart contract technology, we expect processing volume to continue to escalate rapidly."