GreenBox
POS Acquires Sky Technologies, Begins Onboarding of Over a
$1B Book of Business
SAN DIEGO,
CA. --
August 13, 2018 -- InvestorsHub
NewsWire
--
GreenBox
POS, LLC
(USOTC:
GRBX), ("GreenBox", "the Company") is
pleased to announce the acquisition of Sky Mids Technologies ("Sky"),
development and processing Corporation. Sky's transactional
platform specializes in robust and secure payments processing. The
company has been utilizing GreenBox's
revolutionary
payments system, QuickCard, as its main payments
infrastructure for some time and the experience has been
exceptional for both companies. The speed, accuracy, security,
privacy and extendibility of QuickCard and its TrustGateway
technology, as
well as its inherent resistance to fraud, have been a great
addition to Sky's services and its clients' experience.
Additionally, GreenBox has had the opportunity to
see how its system functions on a much larger scale and stress test
its ability to improve efficiencies in an existing framework. Sky
proved to be an excellent candidate with their large processing
volumes, giving the Company opportunity to measure just how much
more efficient their Blockchain powered solution can be. As
expected, the results are astounding. The system is fraud-resistant
and has measurably improved system efficiency over previous
models.
Sky's
transactional book of business, Capable of processing over $1
Billion annually, will selectively be added to GreenBox's
infrastructure
volume. The acquisition of Sky adds more than just volume to
GreenBox
POS business; The
Company will also absorb Sky's staff, consisting mostly of
engineers, and a host of technology already developed under Sky,
who is already familiar with the Quick Card
system. This
should make for both an easy transition and fast launch into
additional joint capabilities.
Ken Haller,
CEO of Sky, will be appointed to GreenBox's
Senior Vice
President, Payment Systems, following the
acquisition.
"This is a
great opportunity for both GreenBox and Sky," said Ben Errez,
Executive Vice President of GreenBox. "We have been working with
Sky for a while now and are thoroughly impressed with their
technology and capabilities. Their engineers are top notch and I am
confident the synergy will continue to add to the plethora of new
technologies we have brought, and will continue to bring, to
market. GreenBox's
unparalleled
infrastructure sets new and much higher expectations by both
businesses and consumers. 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".
About GreenBox POS,
LLC:
GreenBox POS ("GRBX") is a
groundbreaking technology company that builds customized payment
solutions for a multitude of industries. The company has developed
the fastest and safest way to send and process money using
Blockchain technology. The company was awarded 5 provisional
patents for its technology. GreenBox POS 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); KIOSK (deposit,
cash and E-wallet management). All products, services
and custom
hardware are available now from GRBX. GRBX is based in California
with offices in Seattle, WA; Las Vegas, NV; Vancouver, BC, Canada;
and HQ in San Diego, CA.
For more
information, visit the company's website athttps://www.GreenBoxPOS.com
Forward-Looking Statements Disclaimer:
This release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended and Section 21E of
the Securities Exchange Act of 1934, as amended. All
forward-looking statements are inherently uncertain as they are
based on current expectations and assumptions concerning future
events or future performance of the company. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which are only predictions and speak only as of the date hereof. In
evaluating such statements, prospective investors should review
carefully various risks and uncertainties identified in this
release and matters set in the company's SEC filings. These risks
and uncertainties could cause the company's actual results to
differ materially from those indicated in the forward-looking
statements.
Public Relations and Media Contact:
GreenBox
POS,
LLC
www.GreenBoxPOS.com
Office:
619-930-5500
Info@GreenBoxPOS.com