Business
Reliance Global Group Announces Referral Partnership With National Retail Solutions
Adds New Revenue Stream for RELI Exchange Agents by Providing Clients Access to Merchant Cash Advance Services LAKEWOOD, NJ, Sept. 08, 2022 (GLOBE NEWSWIRE)
About this update from Reliance Global Group, Inc.
[{"type":"text","content":"Adds New Revenue Stream for RELI Exchange Agents by Providing Clients Access to Merchant Cash Advance Services LAKEWOOD, NJ, Sept. 08, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that it has entered into a referral partnership with NRS Funding, a service of National Retail Solutions (NRS) and a provider of merchant cash advance services to independent retailers nationwide. Under the agreement, RELI Exchange affiliated agents will now be able to offer clients merchant cash advance services. 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, said, “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 independent retailers nationwide, including convenience, grocery, liquor, and tobacco stores. These retailers are able to process transactions and manage operations more effectively through their NRS terminal while accessing value-added services including NRS’ digital payment processing service, NRS Pay. Advertisers access the terminal’s digital display network to reach these retailers’ predominantly urban customer bases. Consumer packaged goods (CPG) suppliers leverage the NRS platform to provision promotions, coupons, and special offers to independent retailers. NRS is a subsidiary of IDT Corporation, a NYSE listed company. 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 ...