- First-tier merchant processing, state-of-the-art system tracks sales and tax collections
- StateSourced payment technology offers real-world solutions to industry banking dilemma
- Integrated cryptocurrency payment solution offers additional options
- An estimated $20.2 billion in legal marijuana retail sales projected by 2021
Medical Cannabis Payment Solutions (OTC: REFG), based in Cheyenne, Wyoming, is a pioneer in the cannabis payment solutions arena with its proprietary merchant processing system. Fully compliant with the federal government’s anti-money laundering regulations, the company serves up an alternative payment solution that empowers businesses by tracking sales and tax collection, freeing consumers and retailers from a dependence on cash-only transactions.
Through its subsidiary StateSourced, Medical Cannabis Payment Solutions is bringing to market the first and only first-tier merchant processing system of its kind that answers a vexing question facing anyone involved in the rapidly evolving cannabis industry: How to pay for a product that the federal government still classifies as a Schedule 1 substance under the Controlled Substances Act of 1970? Banks and other financial institutions are loath to get involved in an industry that is mired in fiscal uncertainty and whose products are viewed as illegal under federal law.
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