Adds New Revenue Stream for RELI Exchange Agents by Providing Clients Access to Merchant Cash Advance Services
LAKEWOOD, NJ, Sept. 08, 2022 (GLOBE NEWSWIRE) — through NewMediaWire – Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which mixes synthetic intelligence (AI) and cloud-based applied sciences with the customized expertise of a standard insurance company, as we speak introduced that it has entered right into a referral partnership with NRS Funding, a service of National Retail Solutions (NRS) and a supplier of service provider money advance providers to impartial retailers nationwide. Under the settlement, RELI Exchange affiliated brokers will now be capable to provide purchasers service provider money advance providers.
Ezra Beyman, CEO of Reliance Global Group, commented, “We are excited about our partnership with NRS Funding and look forward to providing agents on the RELI Exchange network with a potential new revenue stream accretive to the profitability of their existing businesses. We expect that this new referral partnership will benefit RELI Exchange, our agents, and most importantly, our customers.”
Elie Y. Katz, President and CEO of NRS, stated, “NRS was founded to help independent brick-and-mortar retailers effectively fight back against increasing competition from large retail chains and internet retailing Goliaths. We take our commitment to our retailers seriously, and strive to provide products and services that will help their businesses prosper.”
NRS operates a point-of-sale (POS) terminal-based platform for impartial retailers nationwide, together with comfort, grocery, liquor, and tobacco shops. These retailers are in a position to course of transactions and handle operations extra successfully by means of their NRS terminal whereas accessing value-added providers together with NRS’ digital cost processing service, NRS Pay. Advertisers entry the terminal’s digital show community to succeed in these retailers’ predominantly city buyer bases. Consumer packaged items (CPG) suppliers leverage the NRS platform to provision promotions, coupons, and particular affords to impartial retailers. NRS is a subsidiary of IDT Corporation, a NYSE listed firm.
Beyman added, “We designed RELI Exchange to have low barriers to entry and a compelling value proposition to help us attract new agency partners and provide them with the tools to make their businesses operate more efficiently and become more profitable. The platform has been well received by agents as evidenced by the substantial growth in our agency partner channel since the launch. We believe this latest enhancement to our already robust offering will prove to be another differentiator in the industry, providing independent agents yet another reason to consider moving to the RELI Exchange platform. We plan to continue adding new products and services in the future, which we believe will further accelerate the growth of the platform, getting us closer to our ultimate goal of building RELI Exchange into the largest agency partner network in the country. Overall, we are highly encouraged by the rapid growth of the RELI Exchange platform, and our ability to add bolt-on services for new revenue streams. Given the limited float and strong fundamentals of our business we have no current plans for a reverse stock split and remain laser focused on driving shareholder value.”
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is combining superior applied sciences with the customized expertise of a standard insurance company mannequin. Reliance Global Group’s development technique is concentrated on each natural enlargement, together with 5minuteinsure.com and RELI Exchange, in addition to buying nicely managed, undervalued and money circulate optimistic insurance companies. Additional details about the Company is accessible at https://www.relianceglobalgroup.com/.
Forward-Looking Statements
This press launch accommodates forward-looking statements throughout the which means of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements apart from statements of historic details included on this press launch could represent forward-looking statements and usually are not ensures of future efficiency, situation or outcomes and contain quite a few dangers and uncertainties. In some circumstances, forward-looking statements will be recognized by terminology akin to “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and comparable expressions and embody statements relating to offering brokers on the RELI Exchange community with a possible new income stream accretive to the profitability of their current companies, the brand new referral partnership benefiting the RELI Exchange, the Company’s brokers and its prospects, the RELI Exchange attracting new company companions and offering them with the instruments to make their companies function extra effectively and turn out to be extra worthwhile, the most recent enhancement to the Company’s providing proving to be one other differentiator within the trade and offering impartial brokers one more reason to think about transferring to the RELI Exchange platform, persevering with so as to add new services and products sooner or later, accelerating the expansion of the platform and constructing RELI Exchange into the biggest company associate community within the nation. Actual outcomes could differ materially from these within the forward-looking statements because of quite a few elements, together with these described occasionally in our filings with the Securities and Exchange Commission and elsewhere and threat as and uncertainties associated to: the Company’s skill to offer brokers on the RELI Exchange community with a possible new income stream accretive to the profitability of their current companies, the flexibility of the RELI Exchange to draw new company companions and supply them with the instruments to make their companies function extra effectively and turn out to be extra worthwhile, the Company’s skill to maneuver impartial brokers to the RELI Exchange platform, the Company’s skill so as to add new services and products sooner or later, speed up the expansion of the platform and construct RELI Exchange into the biggest company associate community within the nation, the Company’s skill to generate the income as anticipated the Company’s skill to take care of compliance with the NASDAQ itemizing necessities, and the opposite elements mentioned within the Company’s Annual Report on Form 10-Ok for the yr ended December 31, 2021 and its subsequent filings with the SEC, together with subsequent periodic reviews on Forms 10-Q and 8-Ok.. The info on this launch is supplied solely as of the date of this launch, and the Company undertakes no obligation to replace or revise publicly any forward-looking statements, whether or not because of new info, future occasions or in any other case, after the date on which the statements are made or to mirror the incidence of unanticipated occasions, besides as required by regulation.
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