Priority Technology Holdings, Inc. (NASDAQ: PRTH) ("Priority" or the "Company"), a leading payments technology company helping customers collect, store, and send money, and The Brink’s Company (NYSE: BCO), the global leader in total cash management, route-based secure logistics and payment solutions, today announced a cutting-edge partnership that combines Priority’s credit and debit card processing capabilities with Brink’s new digital cash payment solution, called BLUbeem™ by Brink’s®.
The more than 250,000 merchants using Priority’s payment infrastructure will now have the ability to utilize a payments bundle that combines Priority’s current offering for card acceptance with the Brink's digital cash payment solution. All of Priority's independent sales organizations ("ISOs"), financial institutions, wholesale ISOs, and independent software vendors will have access to the Brink’s solution.
“Our partnership with Brink’s will allow us to provide merchant customers our current card acceptance platform as well as the Brink’s digital cash payment solution, providing an industry-leading, end-to-end payment solution,” said Tom Priore, Chairman and Chief Executive Officer of Priority. “Approximately 20% to 25% of our merchants’ payments occur in cash, representing a huge opportunity to provide enhanced services for our customers. Expanding our reach into cash payments will allow Priority to introduce a variety of new solutions into the market, helping improve customer retention and driving growth into new channels.”
“Our strategy is to reach all of the U.S. retail locations that do not have an effective solution for handling cash payments,” said Rohan Pal, chief digital officer of Brink’s. “Our partnership with Priority Technology fits perfectly into our new product brand, BLUbeem by Brink’s. BLUbeem’s digital cash payment solution makes processing cash fast and easy, similar to debit, credit and other digital payment methods. This solution enables us to be a single source for all of our customers’ cash management needs.”
About Priority Technology Holdings, Inc.
Priority is a payments powerhouse driving the convergence of payments and banking. The company has built a single platform to collect, store, and send money that operates at scale. We help our customers take and make payments while managing business and consumer operating accounts to monetize payment networks. Our tailored, agile technology powers high-value, payments products bolstered by our industry-leading personalized support. Additional information can be found at www.PRTH.com.
About The Brink’s Company
The Brink’s Company (NYSE:BCO) is the global leader in total cash management, route-based secure logistics and payment solutions including cash-in-transit, ATM services, cash management services (including vault outsourcing, money processing and intelligent safe services), and international transportation of valuables. Our customers include financial institutions, retailers, government agencies, mints, jewelers and other commercial operations. Our global network of operations in 53 countries serves customers in more than 100 countries. For more information, please visit our website at www.brinks.com or call 804-289-9709.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services, and other statements identified by words such as "may," "will," "should," "anticipates," "believes," "expects," "plans," "future," "intends," "could," "estimate," "predict," "projects," "targeting," "potential" or "contingent," "guidance," "outlook" or words of similar meaning. These forward-looking statements include, but are not limited to, Priority Technology Holdings, Inc.'s ("Priority," "we," "our," or "us") 2021 outlook and statements regarding our market and growth opportunities. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive risks, trends and uncertainties that could cause actual results to differ materially from those projected, expressed, or implied by such forward-looking statements. These forward-looking statements may include, but are not limited to, statements about the effects of the COVID-19 pandemic on our revenues and financial operating results. Our actual results could differ materially, and potentially adversely, from those discussed or implied herein.
We caution that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. You should evaluate all forward-looking statements made in this press release in the context of the risks and uncertainties disclosed in our SEC filings, including our most recent Annual Report on Form 10-K filed with the SEC on March 31, 2021. These filings are available online at www.sec.gov or www.PRTH.com.
We caution you that the important factors referenced above may not contain all of the factors that are important to you. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the consequences we anticipate or affect us or our operations in the way we expect. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. If we do update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements. We qualify all of our forward-looking statements by these cautionary statements.
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