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GreenBox POS (NASDAQ: GBOX) Surpasses Projections with Record 2021 Processing Volume of $1.95 Billion; Appoints Seasoned Cross-Functional Management Expert as Chief Operating Officer
February 18, 2022

GreenBox POS (NASDAQ: GBOX) Surpasses Projections with Record 2021 Processing Volume of $1.95 Billion; Appoints Seasoned Cross-Functional Management Expert as Chief Operating Officer

  • GreenBox POS has released preliminary unaudited 2021 results wherein its revenue and transaction volume grew by more than 200% and 800%, respectively
  • The company’s processing volume outstripped its initial projections of $1.85 billion
  • GreenBox recorded a transaction volume of $1.95 billion in 2021, while its revenues increased to at least $26 million
  • GreenBox recently appointed organizational and strategic leadership veteran Mr. Min Wei as its Chief Operating Officer

GreenBox POS (NASDAQ: GBOX), an emerging FinTech company on a mission to create cutting-edge payment solutions that disrupt and improve the current world of payment systems, recently announced the preliminary unaudited 2021 results marked by a record transaction volume of $1.95 billion. The figure represented impressive year-over-year growth of over 800% from $202 million in 2020. Further, it contributed to revenues of at least $26.0 million, an increase of more than 200% from revenues of $8.5 million in 2020 (https://ibn.fm/o9Z0n).

The company attributes this remarkable success that constitutes a breakout year to its advanced blockchain ledger-based payment solutions product offering, expanding ISO and respected partnership network, and a strategic acquisition strategy.

“2020 unquestionably proved our ability to develop and deploy cutting-edge technology. In 2021, we focused on executing on our strategy to build sustainable scale for our products while adding new leadership team members that will drive our growth plan and establish GreenBox as a world-class brand,” commented GBOX CEO Fredi Nisan. “There’s a lot of pride around these 2021 results, no doubt.”

With the preliminary 2021 figures, GreenBox has shuttered its projections for the 2021 processing volume, one of its key organizational pillars and a metric on which the company measures its success. 

“Our metric is really volume, and as I mentioned in our last earnings call, our volume quarter-over-quarter has been increasing. We had projected even earlier this year that our volume will be over $1.85 billion, and we expect to exceed that,” stated Ben Chung, GreenBox Chief Financial Officer, during the December 9, 2021 conference call (https://ibn.fm/YOQxN).

While the company is proud of the 2021 results, it is still laser-focused on molding its future and is equally determined to become a global leader in the digital financial solutions marketplace. In furthering this goal, GreenBox recently appointed Mr. Min Wei as its Chief Operating Officer, replacing Vanessa Luna, who will transition into a newly created role to lead an expanding global sales organization for the company (https://ibn.fm/eiL0E).

Wei brings a wealth of organizational and strategic leadership experience spanning more than 20 years, having previously held executive positions at Cubic Corporation (NYSE: CUB), ERG, and several tech companies where he oversaw financial management, business operations, and merger and acquisition (“M&A”) integrations. Prior to joining GreenBox, Wei was the Senior VP, Chief Customer Officer at Cubic, and Senior VP of Operations at Cubic’s transportation business.

GreenBox will benefit from Wei’s vigor in promoting technology advancement and digital transformation, as well as his extensive cross-functional management experience in quality and compliance, data analytics, global services and operations, programs, and finance. He is adept at driving operational, managerial, and administrative excellence to promote growth while managing and overseeing the strategic vision. In his role at GreenBox, Wei will lead strategic business planning.

“Min’s extensive experience aligns perfectly with the future of where GreenBox is heading,” stated Nisan. “Given our aggressive go-to-market strategy, efficient operations, and quality of customer service processes, leveraging state-of-the-art technology is of vital importance. It is critical that we maximize efficiencies to execute on our strategic plan, and we believe Min’s appointment will be an important part of bringing this to life.”

For more information, visit the company’s website at www.GreenBoxPOS.com

NOTE TO INVESTORS: The latest news and updates relating to GBOX are available in the company’s newsroom at https://ibn.fm/GBOX

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