GreenBox POS (GBOX) stock prices saw a surge of 18.87% after market open on April 21st, 2021, starting the day strong at a price per share of USD$9.07.
Promising 2020 Financials Reported
Q4 2020 saw GBOX report a record processing volume of USD$131 million, a monumental 254% increase when compared to volumes reported in Q3 2020. The company also got uplisted to the NASDAQ National Market after successfully completing its public offering that saw the company raise USD$50.1 million in the capital.
Q4 2020 Developments
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GBOX heralds their direct push-to-card payment capabilities, as well as co-branded Visa card issuance capabilities, in light of the company joining Visa’s Fintech Fast Track Program in Q4 of 2020. The same quarter saw the announcement of GBOXT, which was developed as an innovative and secure smart-contract token technology aimed at accelerating the volume of transactions in GBOX’s blockchain platform.
Blockchain Payment Processing
GBOX also facilitated a way for banks to connect and process transactions with the launch of their Generation 3 white label bank offering. The transactions will be processed using GBOX’s blockchain infrastructure. In addition, the launch of Generation 3 advanced large-scale technology improvements will drastically speed up portfolio onboarding and the efficiency of their processing.
Acquisition of GBOX
A major milestone for the company was the announcement of their acquisition of ChargeSavvy in Q4 2020. ChargeSavvy is a specialty retail payment processing company that boasts USD$500 million in year processing volumes. This move was concurrent with the successful completion of GBOX’s private placement that saw it generate USD$2.66 million in the capital with the goal of developing Generation 3 technology upgrades.
GBOX Hopeful for a Prosperous Year Ahead
With a massively successful 2020 behind them, GBOX is confident that they have the resources, technology, and collaborative partnerships to continue to consolidate their position as a leader in the financial technology sector. 2021 is anticipated to build upon the successes of 2020, with GBOX pledging to continue their execution of company strategies to facilitate global blockchain-based payment solutions. This will see the company create consistent and sustainable growth in shareholder value in the long run.