Portland, Oregon, USA (PRWEB) May 04, 2017
Portland start-up company cPay (http://www.cpay.us) announces a method to provide legal electronic payment processing for in-state cannabis purchases and has launched a crowdfunding campaign on CannaCrowd.fund to finance growth. cPay is crowdfunding to raise $100,000 to launch in Oregon, Washington and California. Interested parties may find additional information and a current prospectus at http://CannaCrowd.fund/projects/cpay
“We’re ready to launch, and we are inviting everyone to partner with us to help solve the cannabis payment problem, and eliminate excess cannabis-related cash from our communities” said cPay Founder & Portland resident Jon Underwood. “We are now integrated into 97% of the local and regional financial institutions and expect to launch before the end of the 2nd quarter.”
Presently federal law restricts consumer payment methods to cash only, making the fast-growing cannabis industry virtually an all-cash business. Oregon Senators Merkley and Wyden, Oregon Representative Blumenauer and State Treasurer Read have prioritized finding ways to reduce cash transactions at all levels from cannabis. cPay provides a significant step forward in this effort.
cPay’s Dual Payment System uses Ethereum blockchain technology to facilitate secure online payment processing without crossing state lines, avoiding interstate commerce. Approved by State Financial regulators, cPay completes instant digital payments allowing merchants to handle significantly less cash and safely pay suppliers and their State taxes.
The cannabis industry is currently a $5+ billion industry that is projected to reach $50+ billion over the next 10 years. cPay provides a compliant, safe, and legal payment processing system.
About cPay: cPay is an Oregon Benefit Company providing online and in-store mobile payments solutions using Ethereum blockchain. Similar to ApplePay, cPay allows consumers to register their existing debit and credit cards, and then immediately complete in-store or online cannabis payments.
W. Jon Underwood
Founder & CEO