NEW YORK, December 7, 2018 /PRNewswire/ --
Payment solutions have grown rapidly through new, innovative technology. Despite the technological advancement, some payment
platforms may experience delays throughout transactions or during processing. The demand for a more convenient, secure and
high-speed fund transfer has caused the real-time payments market to flourish. According to data compiled by Infinium Global
Research, the global real-time payments market is projected to grow at a CAGR of 30.4% during the forecast period of 2018-2024.
The market is being driven by the demand to fulfill consumers' expectations on payment solutions, which is causing a widespread
and growing adoption among financial institutions. Real-time payment guarantees the immediate availability of funds as opposed to
traditional payment solution methods, providing a more reliable method for person-to-person (P2P), person-to-bank (P2B), and
bank-to-person (B2P) transactions. GreenBox Pos LLC (OTC: GRBX), First Data Corporation (NYSE: FDC), The Western Union Company
(NYSE: WU), LexinFintech Holdings Ltd. (NASDAQ: LX), USA Technologies, Inc. (NASDAQ: USAT)
Now, many companies within the industry are investing in real-time payment solutions. Specifically, retailers are applying
real-time payments into their business models to help enhance cash flow management, provide gradational value to customers and
minimize fraudulent activities. Real-time payment solutions are also helping deliver payments to potentially millions of users
while collecting and transmitting data in the same process, allowing for stronger growth opportunities for businesses.
Ian Stewart, Chief Executive Officer of BNY Mellon Treasury Services, described RTP as "one of the
most important payment transformation efforts in our industry." Stewart continued to say that "Bringing online a truly real-time,
two way, 24/7 payment and messaging system will create new scenarios and entire new markets in ways we have not even
anticipated."
GreenBox Pos LLC (OTC: GRBX) yesterday announced breaking news that, "TrustEscrow, a real-time partner payment module, is now live. The
new technology is a plug-in to GRBX's robust TrustGateway system and is an essential part of the Company's scalability plan.
TrustEscrow allows GRBX to meet the demand for the Company's services as the number of clients, partners, and agents soar. The
new toolkit allows agents submitting accounts to GreenBox to get paid in real-time for each transaction.
'Current industry standards for agent residual payments are 30-60 days in arrears. Bringing residual payments from 30-60 days
out to true real-time payment gives GreenBox a massive competitive advantage,' stated Ken Haller,
GreenBox's Senior Vice President of Payment Systems. 'Clients, partners, and agents are the core of our business. They are a
pillar to our sales force and we just injected them with the cashflow needed to continue bringing on new accounts. The days of
waiting for residual settlements are over - everyone will be paid instantly and securely through our blockchain technology.'
About GreenBox POS, LLC: GreenBox POS ("GRBX") is a groundbreaking technology company that builds customized payment solutions
for a multitude of industries. The company has developed the fastest and safest way to send and process money using Blockchain
technology. The company was awarded 5 provisional patents for its technology. GreenBox POS develops the following main products:
POS (Point of Sale software and hardware solutions); DEL (delivery app, APIs to POS and PAY); PAY (payment app, providing
financial APIs to all other components); KIOSK (deposit, cash and E-wallet management). All products, services and custom
hardware are available now from GRBX. GRBX is based in California with offices in Seattle, WA; Las Vegas, NV; Vancouver, BC,
Canada; and HQ in San Diego, CA."
First Data Corporation (NYSE: FDC) is a global leader in commerce-enabling technology, serving approximately six
million business locations and 4,000 financial institutions in more than 100 countries around the world. First Data recently
announced the launch of Clover in Canada. With innovative point-of-sale (POS) technology, First
Data's Clover platform brings to business owners a modern approach to manage the demands of their enterprises, including smart,
flexible point-of-sale hardware, intuitive software and a robust set of tools to run operations. "We are delighted to launch
Clover in Canada, making the next generation of payments technology available to our merchants
and across our broad distribution networks," said Brian Green, President, First Data Canada.
"While powering businesses ranging from coffee shops to major sports arenas, the Clover platform has grown rapidly across the
U.S. and Europe. Now we are thrilled to bring the latest in payments innovation to Canada."
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement. Recently,
Western Union Company and Safaricom, Kenya's leading mobile network operator and provider of
M-PESA, a leading mobile wallet, have joined forces again-this time to unlock global money transfers for more than 28 million
mobile wallet holders, by leveraging the Western Union global money movement platform. In a global first, Western Union will
power Safaricom to scale money transfers to more than 200 countries and territories. M-PESA Global, a newly optimized feature
will allow customers to send money from their wallet for pay-out across the Western Union retail Agent network or directly via
Western Union's access to billions of accounts. "Western Union's global money transfer engine is powering Safaricom's electronic
M-PESA wallet to send and receive money globally, while customers can choose our multi-channel network to pay-out across the
world. It is a unique integration of our platforms to scale global connectivity and we commend Safaricom for breaking new
boundaries," said Odilon Almeida, President, Western Union Global Money Transfer.
LexinFintech Holdings Ltd. (NASDAQ: LX) is a leading online consumer finance platform for educated young adults in
China. LexinFintech Holdings Ltd. recently announced its unaudited financial results for the
third quarter ended September 30th, 2018. Operating revenue increased from RMB 1.5 Billion in the third quarter of 2017 to RMB 1.7 Billion in the third
quarter of 2018. This increase in operating revenues was due to the increase in financial services income for the quarter, driven
by continuing increases in the number of active customers and the average total outstanding principal balance of total on-balance
and off-balance loans. Financial services income increased by 37.1% from RMB 778 Million in the
third quarter of 2017 to RMB 1.1 billion in the third quarter of 2018. This increase was primarily
contributed by increase in the loan facilitation and servicing fees. Processing and servicing cost increased by 37.4% from
RMB 60.0 Million in the third quarter of 2017 to RMB 82.5 Million in
the third quarter of 2018. This increase was primarily due to an increase in fees to third-party payment platforms, an increase
in risk management expenses, and an increase in salaries and personnel related costs. "We continue to deliver strong results in
the third quarter despite challenging market conditions, thanks to our commitment to a stable and compliant business strategy,"
said Mr. Jay Wenjie Xiao, Lexin's Chairman and Chief Executive Officer. "We have made continuous
efforts to build strong relationships with multiple funding sources, improve our borrowing scenarios, and invest in financial
technology, which has helped us to gain recognition from customers and partners, and eventually maintain growth."
USA Technologies, Inc. (NASDAQ: USAT) is a premier payment technology service provider
of integrated cashless and mobile transactions in the self-service retail market. USA
Technologies, Inc. recently announced the availability of ePort G9 with Interac Flash, a contactless debit solution, to the
Canadian market. Using the ePort G9, unattended retail businesses in Canada can expand their
payment acceptance options by providing consumers with the ability to use their Interac Flash-enabled bank debit cards when
making purchases. The ePort G9 is a PCI-Compliant, Interac Flash compatible, two-piece card reader and telemetry system which the
Company found, in a year-long study of 100,000 machines conducted in 2015, to contribute to an increase in average annual
cashless sales in the unattended, self-serve retail market by as much as 28%. It supports both traditional magnetic stripe credit
along with the newer, NFC technology found in contactless cards and mobile wallets. The hardware is supported by the full ePort
Connect and Seed suite of services, providing one of the unattended retail industry's first enterprise solutions. According to
Interac Corporation, Canadians choose the security and convenience of Interac over 16 million times a day to pay and transfer
money. "We believe that the addition of ePort G9 with Interac Flash to our suite of solutions will help our customers increase
sales and improve customer satisfaction, while ensuring superior data protection and fast transaction processing," said
Michael Lawlor, Chief Strategy Officer, USA Technologies.
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