RYVYL (NASDAQ: RVYL), a leading innovator of payment transaction solutions leveraging proprietary blockchain ledger and electronic payment technology for the diverse international markets, has licensed its payment-platform-as-a-service to a U.S. based licensee. According to the announcement, the licensee plans to deploy services nationwide for both card present (“CP”) and card not present (“CNP”) transactions, with RYVYL earning revenue on every transaction. The agreement capitalizes on RYVYL’s proprietary technology and creates revenue for the company in the fourth quarter.
“Leveraging our core technology to build a new high-margin revenue stream, we signed an exclusive U.S. license of our private label PPaaS platform, for a niche industry customer base,” said RYVYL cofounder and CEO Fredi Nisan in the press release. “In the third quarter of 2024, we delivered a private label instance of the product, which the licensing partner will complete API integration to its banking network by the end of Q3 and should start contributing revenue by Q4. We expect it will take time to ramp up transactions as the licensee begins to onboard their available portfolio of more than 1,000 merchants.”
To view the full press release, visit https://ibn.fm/kiyJ9
About RYVYL Inc.
RYVYL was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business and peer-to-peer payment transactions around the globe. By leveraging proprietary blockchain ledger and electronic token technology for the diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity-theft protection and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants and consumers around the globe. For more information about the company, please visit www.RYVYL.com.
NOTE TO INVESTORS: The latest news and updates relating to RVYL are available in the company’s newsroom at https://ibn.fm/RVYL
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