- Company provides end-to-end management, across numerous systems, for medicinal marijuana financial operations
- Medical Cannabis Payment Solutions’ system tracks sales and tax collection
- Its Green platform is a full-featured electronic payment and FinCEN compliant payment system
Incorporated in 2013, Medical Cannabis Payment Solutions (OTC: REFG) specializes in state-of-the-art financial services. These services are structured to serve the medical cannabis and banking industries. The company provides end-to-end management, across numerous systems, serving the state-sanctioned medical marijuana industry.
The availability of marijuana payment solutions is increasing (http://ibn.fm/VkPHi). Medical Cannabis Payment Solutions is bringing to the marketplace the first and only complete card processing operation of its kind. The company offers a proprietary, fully integrated payment solution for customers and licensed medical cannabis establishments through its Green platform. This platform is a top-tier, level-one gateway payment processing system. The system tracks sales and tax collection and eliminates the need to deal in cash-only transactions.
A major problem with cash-only transactions is the threat of crime, including robbery and break-ins. As noted by ‘Cannabis Thoughts & Opinions: Challenges of Cannabis Payment Processing’ (http://ibn.fm/Og329), “Unfortunately for cannabis businesses these kinds of threats are very much a reality; and all because they do not have the same access to all the business banking facilities and services that non-cannabis related businesses do.”
The Green platform creates a cash-free transaction environment with electronic money management. This processing solution provides premier security. In addition, it has the capacity to abide by all regulatory frameworks. For a business, the Green platform essentially provides a virtual banking system, as it is both the merchant provider and the gateway. It handles financial compliance so that a business can easily spend or withdraw funds directly from its Green account. Additionally, businesses can transfer funds to another bank account. The offering of these features is consistent with the Medical Cannabis Payments Solutions vision to be at the leading edge of creating secure financial solutions for the cannabis industry.
The company’s comprehensive card processing operation provides businesses with an advanced client management system. The Green platform is a full-featured electronic payment and FinCEN compliant payment system, and most point-of-sale systems can be set up with the company’s gateway. Green is free to set up. Medical Cannabis Payment Solutions provides free technical support to connect a business’s point-of-sale system. Green can enhance a business’s system with additional features.
The company has now made its services available to the whole industry. State-licensed marijuana companies can now sign up through Medical Cannabis Payment Solutions’ website for its banking and financial processing system. This has produced significant traffic for its website as businesses look for comprehensive payment processing solutions to meet their specific needs.
In a news release, Jeremy Roberts, Chief Executive Officer of REFG, stated, “We are very excited that the amount of online applications has exceeded our expectations. We are excited to bring our services to the industry and to bring increased value to our shareholders.”
For more information, visit the company’s website at www.Take.green
