DSG Global to Accept Crypto Currency through Partnership with GreenBox POS
DSG Global, Inc. (OTCQB: DSGT) has announced its partnership with GreenBox POS, enabling its subsidiaries, Imperium Motor Corp. and Vantage-Tag Systems, to accept cryptocurrencies for various payments. This partnership allows transactions for products including electric vehicles, golf carts, and GPS systems, enhancing payment flexibility for customers. GreenBox's blockchain technology provides a secure and efficient payment solution, with the global electric vehicle market expected to grow significantly from $11.9 billion in 2017 to $56 billion by 2025.
- Partnership with GreenBox POS enhances payment options by accepting cryptocurrencies such as Bitcoin and Ethereum.
- Expected growth in the electric vehicle market presents potential revenue opportunities.
- Concerns regarding negative cash flow and future financing needs to sustain operations.
- No assurance that the expected growth from cryptocurrency adoption will materialize.
SURREY, British Columbia, Feb. 18, 2021 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) ("DSGT" or the "Company") announced today that its subsidiary companies, Imperium Motor Corp., and Vantage-Tag Systems, will begin accepting cryptocurrencies for payments through a partnership with GreenBox POS (NASDAQ: GBOX).
GreenBox POS is an emerging fintech company leveraging proprietary blockchain security to build customized payment solutions. GreenBox 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 merchant clients globally.
Ben Errez, Chairman and Executive Vice President of GreenBox, commented, “GreenBox proprietary blockchain payment platform gives merchants the ability to accept over 200 cryptocurrencies as payment alongside traditional merchant payment services.”
“We are excited to partner with GreenBox to provide our consumers with more flexibility at that point-of-sale,” commented Bob Silzer, CEO of DSG Global. “Providing cutting-edge fintech payment options adds another layer to our growing competitive advantage as we rapidly scale operations and grow sales moving forward.”
The GreenBox partnership enables DSGT to accept cryptocurrencies, such as Bitcoin and Ethereum, for its Imperium Motor and Vantage Tag Systems product lines, including golf carts, GPS Infinity systems, service and support payments, electric vehicles, and more, providing EV Dealers and golf course customers globally with a robust, single-platform payment solution.
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.
The global EV market was valued at
About Imperium Motor Company
Imperium Motor Company (IMC) is an EV sales and marketing company with strategic distribution agreements in place that offer a wide variety of affordable vehicles equipped for the North American and other markets with emphasis on great design, a green mindset, performance, and functionality. Vehicles will include high speed, and low speed electric vehicles including cars, trucks, SUVs, vans, buses, and scooters. For additional information about Imperium Motors' product lines, please visit www.imperiummotorcompany.com.
About DSG Global
DSG Global is an emerging global technology company with an array of interconnecting businesses in some of the fastest growing market sectors. With roots in the golf industry in which it specializes in fleet management with patented analytics, mobile touch screen engagement and electric golf carts under the Vantage Tag Systems (VTS) brand, the company is moving quickly with road-ready electric vehicles for sale in the first quarter of 2021 through its Imperium Motor Company subsidiary.
About Vantage Tag Systems
Vantage Tag Systems (VTS) provides patented electronic tracking systems and fleet management solutions to golf courses and other avenues that allow for remote management of the course's fleet of golf carts, turf equipment and utility vehicles. Its clients use VTS's unique technology to significantly reduce operational costs, improve the efficiency plus profitability of their fleet operations, increase safety, and enhance customer satisfaction. VTS has grown to become a leader in the category of Fleet Management in the golf industry, with their technology installed in over vehicles worldwide. VTS is now branching into several new streams of revenue, through programmatic advertising, licensing, and distribution, as well as expanding into Commercial Fleet Management, PACER single rider golf carts, and Agricultural applications. Additional information is available at http://vantage-tag.com/
Company Contact:
Dave Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
dave@redchip.com
Brokers and Analysts:
Chesapeake Group
+1-410-825-3930
info@chesapeakegp.com
Safe Harbor for Forward-Looking Statements
This news release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as “proposed”, “expects”, “intends”, “may”, “will”, and similar expressions. Forward-looking information contained or referred to in this news release includes, but is not limited to, the anticipated growth of the market for electric vehicles, and any stated, implied or inferred benefit which the Company may derive from such growth, or from its adoption of GreenBox POS systems.
Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: negative cash flow and future financing requirements to sustain operations, dilution, limited history of operations and revenues and no history of earnings or dividends, competition, economic changes, delays in the Company's expansion plans, regulatory changes, and the impact of and risks associated with the
FAQ
What is the significance of DSGT's partnership with GreenBox POS?
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