Medical Cannabis Payment Solutions (REFG) Begins Depositing Cash and Announces Upcoming Launch of Pay with Go!
Pay with Go! provides clients with a fully regulatory compliant method for banking services to deposit cash and accept electronic payments in the cannabis space.
LAS VEGAS, Oct. 24, 2019 /PRNewswire-PRWeb/ -- Medical Cannabis Payment Solutions (OTC PINK-REFG), a leading provider of regulatory-compliant financial services for state-sanctioned marijuana, today announced it has launched its cash depository services nationwide and will immediately make them available to all of its clients. The company, which provides electronic payment services to state-sanctioned cannabis companies, has been approached by its clients to provide depository services for its physical currency as well as electronic transfers. The company has been opening bank accounts for its clients.
"The objective is to get cash out of the transaction," said Jeremy Roberts, CEO of Medical Cannabis Payment Solutions. "With some transactions, that just isn't going to be possible—just as it isn't in a traditional retail scenario. Providing our clients with a fully-regulatory compliant method to deposit their cash is something we've been asked to do, and we have begun doing so. We believe we are the only company currently providing banking services in all states with legalized cannabis. Licensed marijuana establishments may apply for a bank account or payment processing on our website, http://www.paywithgo.com."
The company also announced that its electronic payment system, Pay With Go!, has also completed a programming update and will be launched in select dispensaries before a full nationwide rollout. Go! is an electronic payment processing platform that supports money transfers and serves as an alternative to traditional transactions, such as cash or check. The system, with best-in-class security, allows state-sanctioned cannabis entities to accept electronic, domestic payment without the need for paper currency. The company believes this system solves the "cash problem" facing the cannabis industry.
"We're uniquely positioned to offer banking in each state that offers sanctioned cannabis. We offer a fully disclosed and regulatory compliant payment system and now we will also handle our clients' cash for deposits," said Mr. Roberts. "We've been working with some of the largest companies in the industry on our product rollouts and are presently providing depository services for clients nationwide."
About Medical Cannabis Payment Solutions Our mission is to provide end-to-end management, across multiple management systems, for medicinal marijuana operations. Many medicinal marijuana companies have experienced such rapid growth that they are finding it difficult to manage all aspects of their operation. In order to become a successful and compliant medicinal marijuana operation, effective management must depend on many different systems. REFG solves the fragmentation problem by identifying tools that are important to dispensaries and customizing those tools specifically to the industry. We strive to create awareness within the medicinal marijuana industry and to develop an environmentally friendly, economically sustainable business while increasing shareholder value. For more information, please visit the company's website at http://www.paywithgo.com.
FORWARD-LOOKING STATEMENT: This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of REFG to be materially different from the statements made herein.
SOURCE Medical Cannabis Payment Solutions
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