February 16, 2022
GreenBox POS Enters Partnership with Cross River, Paving the Way Toward Full Banking as a Service Initiative
End-to-End Banking Solution to Massively Expand Universe of Existing and Potential Customers Creating Multiple New Channels for Revenue and Eliminating The Need for Multiple Financial Platforms
SAN DIEGO, CALIF. - GreenBox POS (NASDAQ: GBOX) ("GreenBox" or the "Company"), an emerging and rapidly growing FinTech company announced today that it has entered into a licensing partnership with Cross River, a respected technology driven infrastructure provider that offers embedded financial solutions.
Cross River, known for merging the innovative capabilities of a state-of-the-art technology company with the traditional expertise of an established bank, currently powers scores of leading FinTech companies across the United States. GreenBox’s partnership with Cross River will bring to fruition the launch of their first banking-as-a-service initiative and ushers GreenBox into the arena with the likes of well-known, major financial technology-driven brands.
Cross River’s infrastructure and access to the payment rails will enable GreenBox to open custodial, reserve, and operating accounts for their customers, who can manage their accounts with a full suite of tools, all powered by Cross River. This offers numerous distinct advantages that create a vast array of new channels to add customers, any of which may well lead to robust revenue growth.
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