GreenBox POS Raises 2021 Processing Volume Estimates
April 05, 2021 17:22 ET | Source: GreenBox POS GreenBox POS
Doubling Previously Issued Guidance
SAN DIEGO, CA, April 05, 2021 (GLOBE NEWSWIRE) GreenBox POS (NASDAQ: GBOX ( GreenBox , the Company ), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions, sees first quarter 2021 processing volume materially outpaced prior expectations used in initial annual guidance of $600 million. The Company now expects at least $1.2 billion of processing volume for the year, improved operating margins, and additional new smart-contract token volume.
The Company’s blockchain ledger-based payment solutions have gained traction as new merchant onboarding accelerates following the January launch of its Gen3 technology. Processing volume is the primary source of GreenBox revenue, which is residual based. The Company attributes this growth to th