NetworkNewsBreaks – GreenBox POS (NASDAQ: GBOX)
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Posted On: 05/26/2022 4:06:45 PM
NetworkNewsBreaks – GreenBox POS (NASDAQ: GBOX) Leveraging Acquisitions to Amplify Margin Profile, Secure Processing Volume Base, Offer Additional Solutions
GreenBox (NASDAQ: GBOX), an innovative blockchain ledger fintech company, views acquisitions as a vital part of its growth strategy. Chairman Ben Errez notes that acquisitions allow the company to “Purchase merchant portfolios, adding processing volume to our platform, and provide a way to obtain key licensing assets, both domestically and globally, that enable us to branch out and service more verticals and geographic locations.” According to a recent article, GreenBox closed an asset purchase agreement with Sky Financial & Intelligence to acquire a portfolio of merchant accounts that contributed over $1 billion to the company’s total processing volume of about $2 billion for the full year 2021. “The acquisition of the substantial Sky portfolios is yet another stride forward for us and accomplishes two very important things,” commented Errez. “[First,] by bringing a large merchant account portfolio in-house, we eliminate the cost previously incurred from commissions and amplify our margin profile. Second, it allows GreenBox to own these customer relationships, securing a considerable portion of our processing volume base with the bonus of being able to offer additional revenue-generating solutions.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
GreenBox (NASDAQ: GBOX), an innovative blockchain ledger fintech company, views acquisitions as a vital part of its growth strategy. Chairman Ben Errez notes that acquisitions allow the company to “Purchase merchant portfolios, adding processing volume to our platform, and provide a way to obtain key licensing assets, both domestically and globally, that enable us to branch out and service more verticals and geographic locations.” According to a recent article, GreenBox closed an asset purchase agreement with Sky Financial & Intelligence to acquire a portfolio of merchant accounts that contributed over $1 billion to the company’s total processing volume of about $2 billion for the full year 2021. “The acquisition of the substantial Sky portfolios is yet another stride forward for us and accomplishes two very important things,” commented Errez. “[First,] by bringing a large merchant account portfolio in-house, we eliminate the cost previously incurred from commissions and amplify our margin profile. Second, it allows GreenBox to own these customer relationships, securing a considerable portion of our processing volume base with the bonus of being able to offer additional revenue-generating solutions.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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