Hank Payments Inks Agreement with New York State Automobile Dealers Association, Provides Update on Mortgage Transaction
Toronto, Ontario--(Newsfile Corp. - March 24, 2022) - Hank Payments Corp. (TSXV: HANK) ("Hank" or the "Company"), a North American financial technology company that uses powerful technology to automate the complexities of personal cash flow management in one centralized place, is pleased to announce it has entered into an agreement dated March 16, 2022, with the New York State Automobile Dealers Association ("NYSADA").
For over 90 years, NYSADA has been the collective voice of New York's franchised automobile dealers representing close to 1000 dealers across the state. The NYSADA's mission is to be the foremost automotive trade association in the country and protect and advance the public, government, and industry relation's interests of franchised new car and truck dealers.
The relationship with NYSADA further validates the Hank Payments platform value to consumers and dealers alike. This exclusive relationship provides access to 1,000 auto dealers across New York state. Hank is developing marketing, conversion, and implementation plans to activate NYSADA's dealers and drive increased consumer enrollment.
"We are excited to bring Hank to our dealer members," commented NYSADA Chairman Brian Dennis. He added, "With rising vehicle costs and increasing interest rates, there has never been more demand for the benefits Hank's payment management platform provides for consumers and dealers."
"Through this exclusive relationship, NYSADA's promotion of the benefits of Hank's platform will bring more strategic value to the New York automotive industry," remarked Megan Howell, Hank's SVP Auto-Channels. "We look forward to working with NYSADA to continue to showcase the value that Hank brings to both dealers and consumers."
Hank continues to progress on the previously announced mortgage payment company acquisition. The transaction is expected to close in the near term. Concurrently, Hank is working with the targeted company to make Hank's mobile enrolment technology available to their mortgage brokers and expects to commence roll-out shortly after closing.
About Hank Payments Corp.
Hank is a financial technology company. The Hank software platform (the "Hank Platform") acts as a consumer's personal financial concierge using powerful technology to automate personal cash flow management complexities. Through its FDIC (Federal Deposit Insurance Corporation) insured bank partners in the United States, Hank helps consumers in every state find funds in their existing cash flow and speed up the retirement of liabilities. The Hank Platform debits consumers when they have cash, stores the money with partner banks, then automatically instructs partner banks to pay bills and loans as they come due and often sooner than required. Approximately half of Hank's customers are financially sound and use the Hank Platform for convenience, while the other half improve their payment performance through the use of the Hank Platform. One hundred percent of Hank's customers are in the USA and pay setup and ongoing monthly processing fees while remaining on the Hank Platform for an average of three years. Hank continues to innovate and anticipates launching more expansive features to its expected growing customer base to provide greater visibility into their cash flow, credit performance, and viability to borrow or refinance at lower rates, including introducing Hank customers to interested lenders.
NYSADA serves franchised auto retailers across the state of New York by providing assistance in representation, state and federal laws & regs, licensing & tax issues and more. Visit their website at www.nysada.com
This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company's current expectations regarding future events. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections and include, without limitation, statements regarding the future success of the Company's business.
The forward-looking statements in this news release are based on certain assumptions, including without limitation the Shares beginning trading on the TSXV. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
For more information regarding Hank Payments Corp., please contact: Michael Hilmer, Chief Executive Officer at 1-833-HANKPAY. For Investor Relations please contact email@example.com and visit the Company's website at www.hankpayments.com.
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