The legal cannabis industry now has simple banking options thanks to Medical Cannabis Payment Solutions (OTC: REFG). According to the company, it is the only one offering licensed providers the ability to apply for a bank account online. In an industry with limited to no banking options, REFG is providing the accessibility and protection necessary for licensed cannabis companies to succeed.
In addition to the convenience of an online application, the company’s state-of-the-art system tracks sales and taxes and provides client management to dispensaries. Thanks to REFG, cash-only is a business model of the past for licensed distributors. Now, they can utilize ‘Go!’, an end-to-end payment processing system, for their banking needs.
Due to federal regulations, traditional banks are often unwilling to provide full services to the cannabis industry. REFG, on the other hand, is able to provide legal banking and secure payment processing while remaining compliant to ever-changing federal regulations. The company believes that the solution to success is being transparent and complying with regulations rather than working around them. Now averaging 60 million transactions per month along with one million new cards issued, REFG takes the security and safety of every transaction seriously.
When customers of a dispensary sign up for a Go! Card, they are creating a link between their banks – any checking accounts from any U.S. bank – and the dispensaries. When businesses create a Go account, they are providing their customers with convenience and redefining the culture of dispensaries. What was once a dangerous, risky, cash-only store front becomes a safe, convenient place to do business.
The company is positioned to grow as the laws in the U.S. surrounding the legalization of cannabis begin to change. Up until now, legalization has been determined on a state-by-state level. However, Reps. David Joyce (R-Ohio) and Earl Blumenauer (D-Oregon) have made remarks citing the “STATES” Act (Strengthening the 10th Amendment Through Entrusting States), a bill exempting states with legal cannabis from federal cannabis law enforcement, as likely to pass. Due to public support, the STATES Act and other cannabis-related bills are expected to be introduced and are “likely to pass” in 2019. This move will put REFG ahead of the game.
REFG has been establishing itself as an expert, willing to take risks where other banks were not. The company has already grown a loyal customer base and is proving itself trustworthy before its competition even enters the game.
For more information, visit the company’s website at www.PayWithGo.com
More from CannabisNewsWire
About HempWire
HempWire (HW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) HempNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, HW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. HW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, HW brings its clients unparalleled visibility, recognition and brand awareness. HW is where news, content and information converge.
HempWire is at the epicenter of the Cannabis Revolution.
To receive instant SMS alerts, text HEMPWIRE to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.hempwire.com
Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.hempwire.com/disclaimer/
HempWire (HW)
Denver, Colorado
www.hempwire.com
303.498.7722 Office
Editor@HempWire.net
Legislators in states across the country are working towards strictly regulating and/or banning intoxicating hemp…
A proposal introduced by Sen. Colleen Burton that would ban delta-8 THC hemp products is…
California recently extended a ban on intoxicating hemp products with THC that was set to…
A new poll has determined that frequent consumers of marijuana like using delivery platforms to…
The demand for plant-based proteins has increased in the last couple of years as consumer…
The CBD market in the United Kingdom has grown since the compound’s extracts were designated…