Hank Payments Reaches Settlement with New York State Automobile Dealers Association, Provides Update on Mortgage Transaction
Toronto, Ontario–(Newsfile Corp. – March 24, 2022) – Hank Payments Corp. HANK (“Hank” or the “Company”), a North American fintech company that uses powerful technology to automate the complexities of personal cash flow management in one centralized location, is pleased to announce that it has entered into an agreement dated March 16 2022 with the New York State Automobile Dealers Association (“NYSADA”).
For more than 90 years, NYSADA has been the collective voice of New York’s franchise automobile dealerships representing nearly 1,000 dealerships across the state. NYSADA’s mission is to be the nation’s premier automotive trade association and to protect and advance the interests of the public, government and industry of franchised new car and truck dealers.
The relationship with NYSADA further validates the value of the Hank Payments platform for consumers and resellers. This exclusive relationship provides access to 1,000 car dealerships in New York State. Hank develops marketing, conversion and implementation plans to activate NYSADA dealerships and drive consumer registration.
“We are thrilled to bring Hank to our Dealer Members,” commented NYSADA President Brian Dennis. He added, “With rising vehicle costs and rising interest rates, there has never been more demand for the benefits that Hank’s payment management platform offers 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 auto industry,” said Megan Howell, Hank’s SVP Auto-Channels. “We look forward to working with NYSADA to continue to showcase the value Hank brings to dealers and consumers.”
Hank continues to make progress on the previously announced acquisition of the mortgage payment company. The transaction is expected to close in the short term. At the same time, Hank is working with the target company to make Hank’s mobile listing technology available to their mortgage brokers and expects to begin rollout shortly after closing.
About Hank Payments Corp.
Hank is a fintech company. The Hank Software Platform (the “Hank Platform“) acts as the consumer’s personal financial concierge using powerful technology to automate the complexities of personal cash flow management. Through its Federal Deposit Insurance Corporation (FDIC) insured banking partners in the United United, Hank helps consumers in every state find funds in their existing cash flow The Hank platform debits consumers when they have money, stores the money with partner banks, then automatically asks banks partners to pay bills and loans as they come due and often sooner than needed About half of Hank’s customers are financially strong and use the Hank platform for convenience, while the other half improve their payment through the use of the Hank platform.One hundred percent of Hank’s customers are in the United States and pay the installation fee. tion and monthly processing while remaining on the Hank platform. Platform with an average duration of three years. Hank continues to innovate and plans to launch features to its growing anticipated customer base to provide greater visibility into their cash flow, credit performance, and viability to borrow or refinance at lower rates, including introducing customers from Hank to interested lenders.
NYSADA serves franchise automotive retailers throughout New York State by providing assistance with representation, state and federal laws and regulations, licensing and tax issues, and more. Visit their website at www.nysada.com
This press release may contain forward-looking statements (within the meaning of applicable securities laws) that 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, but are not limited to, statements regarding the future success of the Company’s business.
The forward-looking statements contained in this press release are based on certain assumptions, including, without limitation, the shares commencing trading on the TSXV. 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. Accordingly, readers should not place undue reliance on these forward-looking statements. Further, these forward-looking statements are made as of the date of this press release and, except as expressly required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
FOR MORE INFORMATION, PLEASE CONTACT:
For more information about Hank Payments Corp., please contact: Michael Hilmer, Managing Director at 1-833-HANKPAY. For Investor Relations, please contact [email protected] and visit the Company’s website at www.hankpayments.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118009