GreenBox POS Joins Visa’s Fintech Fast Track Program

SAN DIEGO, Feb. 12, 2021 (GLOBE NEWSWIRE) — GreenBox POS (OTCQB: GRBX) (“GreenBox”, the “Company”), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions today announced that it has joined Visa's Fintech Fast Track program, speeding up the process of integrating with Visa. By joining Fast Track, GreenBox is able to more easily leverage the reach, capabilities, and security that VisaNet, the company's global payment network, offers. Through Visa Fast Track and working with Visa Fast Track partners, GreenBox will be issuing a co–branded Visa card and enabling direct push–to–card payments.

GreenBox operates a private and proprietary blockchain payment platform that offers security and data privacy, as well as enhanced fraud protection and rapid speed to settlement. Serving as the settlement engine for financial transactions, GreenBox's blockchain technology is a distributed ledger that uses digitally encrypted keys to verify, secure and record details of each transaction conducted within GreenBox's private ecosystem. The speed and security of the platform allows GreenBox to log immense volumes of immutable transactional records in real time.

Visa's Fintech Fast Track Program provides companies like GreenBox the ability to access Visa's growing partner network, and experts who can provide guidance in helping them get up and running in the most efficient way possible. Learn more about Visa's Fintech Fast Track program at https://Partner.Visa.com.

“Our partnership with Visa marks another important step aligned with our goal to help move society towards cashless, secure payments where digital currency can be moved anywhere at any time," said Fredi Nisan, Chief Executive Officer of GreenBox POS. "Being able to issue payment credentials and send near real–time payments across the Visa network significantly enhances our payment solutions offering."

"By joining Visa's Fast Track program, exciting Fintechs like GreenBox POS gain extraordinary access to Visa experts, technology, and resources," said Terry Angelos, SVP and Global Head of Fintech, Visa. "Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency."

About GreenBox POS

GreenBox POS (OTCQB: GRBX) 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, helping to reduce fraud and improve 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.

Forward–Looking Statements Disclaimer

This release contains forward–looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward–looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward–looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set out in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward–looking statements.

Investor Relations Contact
Mark Schwalenberg
MZ Group – MZ North America
312–261–6430
GRBX@mzgroup.us
www.mzgroup.us


Transition to Digital Economy Must Ensure Access to Those in the Digital Gap

Marcia Julio Vilanculos, pictured here in this dated photo with her baby, was one of the participants of a digital literacy training course at Ideario innovation hub, Maputo, Mozambique a few years ago. Only 6.8 percent of all Mozambican women, with or without owning a cellphone, use the internet. Questions remain about the possibility of a successful transition to a digital economy in a world where there’s a glaring digital divide -- one that has become even more pronounced under the pandemic. Credit: Mercedes Sayagues/IPS

Marcia Julio Vilanculos, pictured here in this dated photo with her baby, was one of the participants of a digital literacy training course at Ideario innovation hub, Maputo, Mozambique a few years ago. Only 6.8 percent of all Mozambican women, with or without owning a cellphone, use the internet. Questions remain about the possibility of a successful transition to a digital economy in a world where there’s a glaring digital divide — one that has become even more pronounced under the pandemic. Credit: Mercedes Sayagues/IPS

By Samira Sadeque
UNITED NATIONS, Feb 12 2021 (IPS)

It is crucial to ensure that any transition to a digital economy has mechanisms in place that are non-digital to avoid “double exclusion”, according to Shahrashoub Razavi, director of the social protection department at the International Labour Organisation (ILO).

Razavi spoke with IPS following an ILO panel addressing the issue of social protection and the transition to a green and digital economy — a side-event of the ongoing United Nations 59th session of the Commission for Social Development (CSocD).

Razavi moderated Wednesday’s “Social protection floors for a just transition to the green and digital economy” panel, which hosted social protection advisers and labour directors from different countries.

An important topic during the panel was how social protection systems could have helped societies cope better with the COVID-19 pandemic.

“Social protection floors can reduce vulnerabilities and it can protect those impacted by a digital and green transformation,” Adrian Hauri, the deputy permanent representative of Switzerland to the UN, said during the opening remarks.

Aileen O’Donovan, the social protection policy lead at Irish Aid, pointed out that there has been a massive rise of social protection responses under the pandemic. More specifically, 209 countries implemented or announced 1,596 social protection measures by end of November 2020. 

“It’s critical now more than ever to invest in social protection systems,” she added.

O’Donovan further highlighted the importance of taking into account the most vulnerable communities when discussing social protection systems — especially those affected by climate change.

“Our commitment is really around reaching those furthest behind and we know that those who are most vulnerable are also vulnerable to the impact of climate change,” she said. “So it’s really critical to ensure that social protections are effectively designed to take into [account] mitigating climate impact and supporting adaptations.” 

O’Donovan concluded by saying it was important to make use of the current momentum.

“The momentum is really behind social protection systems, so it’s really about — how do we take this further and sustain this momentum to build much more resilient communities?” she asked.

But questions remain about the possibility of a successful transition to a digital economy in a world where there’s a glaring digital divide — one that has become even more pronounced under the pandemic.

“The digital gaps are concerning and if social protection transfers rely entirely on digital mechanisms then they are likely to exclude those without adequate access to such technologies,” Razavi told IPS when addressing these concerns. “It is important therefore that non-digital mechanisms are also available for those who would otherwise face a double exclusion (ie those without adequate digital literacy and access to the internet, mobile phones, etc).”

Ambassador Valérie Berset Bircher, a member of the labour directorate at the Swiss Secretariat for Economic Affairs, told IPS that the pandemic affected workers differently, based on social protection systems in place in different countries.

“For countries like Switzerland (high-income countries), which have a longstanding social protection system in place, we were able to extend the system to cover more categories of workers and to extend the duration of the protection,” she said. “But of course in other parts of the world, countries were not able to invest sufficiently in stimulus packages and therefore were not able to protect jobs and wages.”

At the panel talk, she highlighted the need for a “human-centred approach to the future of the world” — one that would prioritise investing in job skills and social protection, and making sure all workers are protected and can benefit from changes in the labour market.

Bircher, who is also the head of the Swiss delegation to the current session of the CSocD, elaborated what the “human-centred approach” entails.

“It means investing in the institutions of the labour market and adopting policies that promote an enabling environment for sustainable enterprises, economic growth and decent work for all,” she said. “Our main objective is to ensure the highest possible participation in the workforce and a good quality of employment, including in the digital age.”

She highlighted the importance of designing a social safety net that would be accessible to everyone, and added that flexible labour market regulation, well-functioning social partnership, and active labour market policies would be crucial for structural change.

But some challenges remain to be addressed.

Going forward, a big question is how effectively they can turn these temporary measures into proper programmes anchored in policies and laws and backed by adequate financing,” Razavi told IPS. “This is a big challenge in the context of major economic disruptions and falling taxes and other government revenues.”

Despite these questions, Razavi says the social protection responses are “a silver lining” to the crisis. 

“If there was a silver lining to the crisis, it was the way in which it mobilised governments to put together social protection responses, sometimes from scratch with no existing systems and programmes,” she said.