GreenBox (NASDAQ: GBOX), an innovative blockchain ledger fintech company, recently announced it would offer Automated Clearing House (“ACH”) processing capabilities to merchants leveraging its blockchain technology and smart contract technology to transfer funds electronically for ACH debit and credit transactions. ACH is a network payment system that handles credit transfers such as social security benefits, direct deposit of paychecks, dividend payouts, and tax refunds, as well as debit transfers such as subscription and mortgage payments and utility bills. It boasts low execution costs, making ACH payments an attractive and advantageous payment alternative for merchants by offering substantial cost savings to conventional credit and debit cards. The launch of the new ACH bulk processing initiative dovetails with GreenBox’s goal of increasing its overall processing volume, a key organizational pillar on which the company measures its success. A recent article quotes GreenBox POS CEO Fredi Nisan as saying: “ACH bulk processing offers a profitable new multimillion-dollar revenue stream for GreenBox. Our clients have long been demanding it, and now we can offer it with our superb technology.”
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About GreenBox POS
GreenBox is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The company’s applications enable an end-to-end suite of turnkey financial products, fraud detection and improving the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, please visit the company’s website at www.GreenBoxPOS.com.
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