GreenBox POS, LLC’s (GRBX) TrustGateway Blocks Fraud with Blockchain

October 23, 2018 10:49:16
  • Bankcard fraud to cross $6 billion in 2018
  • TrustGateway blockchain technology uses biometrics to block fraud
  • System under consideration by two major U.S. commercial banks

The maturation of ecommerce has been a boon to consumers everywhere, turning the world into one global marketplace. Now, though you live in America, you can order goods from China; you can shop on Amazon even though you live in the Himalayas ( Naturally, such trade involves customer-not-present (CNP) transacting, which is providing great opportunity for fraud. CNP fraud accounts for 70 percent of card fraud ( For 2018, it is projected to reach $6.4 billion in the U.S. alone, which, perhaps, is why two major U.S. commercial banks and one of the largest payment infrastructural platforms in the country are taking a look at a novel solution offered by GreenBox POS, LLC (OTC: GRBX). The company has developed a payment gateway – TrustGateway – that blocks CNP fraud with blockchain technology. The gateway is a major component of the company’s QuickCard payment system and is proving to be highly efficient in preventing fraud on the GreenBox payment platform.

Buying online with a bankcard is generally a smooth, seamless process, but behind the scenes, there’s a lot going on, some of which involves a “payment gateway.” After a purchaser submits his or her debit or credit card information to a merchant online, the payment gateway sends that information, together with the…

Read More>>

More from NetworkNewsWire

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive instant SMS alerts, text STOCKS to 77948

For more information, please visit

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published:

NetworkNewsWire (NNW)
New York, New York
212.418.1217 Office