GBank Financial Holdings Inc. is Pleased to Share the Press Release of BankCard Services, LLC, Announcing the Welcoming of MassPay as a New PPA Client

Rhea-AI Summary

GBank Financial Holdings Inc. (OTCQX: GBFH) has announced that BankCard Services, (BCS), a company specializing in cashless gaming technology for financial institutions, has welcomed MassPay as a new PPA client. This development expands the mutual client network for both GBank and BCS, potentially strengthening their position in the gaming FinTech sector.

The partnership highlights GBank's continued efforts to grow its presence in the cashless gaming industry through its Gaming FinTech Division. This collaboration with MassPay could potentially lead to increased transaction volumes and revenue streams for GBank and BCS, although specific financial details were not disclosed in the press release.

Positive

• Expansion of client network with addition of MassPay as a new PPA client
• Potential for increased transaction volumes and revenue in the cashless gaming sector
• Strengthening of GBank's position in the gaming FinTech industry

Negative

• None.

LAS VEGAS, July 31, 2024 /PRNewswire/ -- GBank Financial Holdings Inc. (the "Company") (OTCQX: GBFH), the parent company for GBank (the "Bank"), is pleased to share the press release of BankCard Services, LLC ("BCS"). BCS, a technology company specializing in enabling financial institutions to participate in cashless gaming, announced the welcoming of MassPay as a New PPA Client. GBank, along with its Gaming FinTech Division, proudly joins BCS in welcoming MassPay to our mutual client network.

The full press release from BankCard Services, LLC can be found here:

BankCard Services, LLC is Pleased to Welcome MassPay as a New PPA Client

Click here to learn more about GBank Financial Holdings Inc. 

Click here to learn more about BankCard Services, LLC.

Click here to learn more about MassPay.

Cautionary Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding certain of the Company's goals and expectations with respect to future events that are subject to various risks and uncertainties, and statements preceded by, followed by, or that include the words "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "target," "continue," and similar expressions. These statements are based upon the current belief and expectations of the Company's management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations include, but are not limited to: the impact on us or our customers of a decline in general economic conditions and any regulatory responses thereto; potential recession in the United States and our market areas; the impacts related to or resulting from bank failures and any continuation of uncertainty in the banking industry, including the associated impact to the Company and other financial institutions of any regulatory changes or other mitigation efforts taken by government agencies in response thereto; increased competition for deposits and related changes in deposit customer behavior; the impact of changes in market interest rates, whether due to continued elevated interest rates or potential reductions in interest rates and a resulting decline in net interest income; the persistence of the inflationary pressures, or the resurgence of elevated levels of inflation, in the United States and our market areas; the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Board of Governors of the Federal Reserve System; effects of declines in housing prices in the United States and our market areas; increases in unemployment rates in the United States and our market areas; declines in commercial real estate values and prices; uncertainty regarding United States fiscal debt and budget matters; cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events; regulatory considerations; our ability to recognize the expected benefits and synergies of our completed acquisitions; the maintenance and development of well-established and valued client relationships and referral source relationships; acquisition or loss of key production personnel; changes in tax laws; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; potential increased regulatory requirements and costs related to the transition and physical impacts of climate change; and current or future litigation, regulatory examinations or other legal and/or regulatory actions. These forward-looking statements are based on current information and/or management's good faith belief as to future events. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans or expectations contemplated by the Company will be achieved. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The forward-looking statements are made as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. All forward-looking statements, express or implied, included in the press release are qualified in their entirety by this cautionary statement.

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SOURCE GBank Financial Holdings Inc.

FAQ

What is the significance of MassPay joining GBank Financial Holdings Inc.'s (GBFH) client network?

MassPay joining as a new PPA client expands GBank's and BankCard Services' mutual client network, potentially increasing transaction volumes and strengthening their position in the gaming FinTech sector.

How does the partnership with MassPay affect GBank Financial Holdings Inc.'s (GBFH) Gaming FinTech Division?

The partnership could enhance GBank's Gaming FinTech Division by expanding its cashless gaming services and potentially increasing revenue streams in this sector.

What services does BankCard Services, provide for GBank Financial Holdings Inc. (GBFH)?

BankCard Services, is a technology company that enables financial institutions like GBank to participate in cashless gaming, specializing in this FinTech niche.

When did GBank Financial Holdings Inc. (GBFH) announce the new partnership with MassPay?

GBank Financial Holdings Inc. announced the partnership with MassPay on July 31, 2024, through a press release shared by BankCard Services,