#Fintech and #Cannabis Combine for 2019; (NASDAQ:
$NETE) (OTC: $GOHE) (CSE: $CNNA.C) (OTC: $REFG)
Point Roberts, WA and Delta, BC - March 22, 2019
(Investorideas.com Newswire) Investorideas.com, a leading investor news
resource covering tech and cannabis stocks releases a snapshot looking at the
continued growth of payment solutions in the cannabis industry and how
participating companies are preparing for the future as regulations change.
A recent article from
MarijuanaBreak.com,
discussed the ups and downs of payment processing in the legal cannabis market
and why payment solution alternatives are so necessary in this industry; “As of
2017 only around 300 of the 11,000 operational banks in the U.S. will comply
with legal marijuana companies or vendors.” The article goes on to discuss the
downsides caused by this lack of financial access, such as security (for cash
only dispensaries), regulation issues (payment solutions companies unfamiliar
with the legal landscape) and customer access (an inability to expand or
increase online sales due to lack of accepted payment options).
Read
this in full at https://www.investorideas.com/news/2019/cannabis/03224Stocks-Fintech.asp
This is where companies like Net Element, Inc. (NASDAQ: NETE), a global technology and value-added
solutions group that supports electronic payment acceptance in a multi-channel
environment, including point-of-sale, come into play, having announced its entrance into the
cannabis sector in October of last
year. The company also recently announced that its subsidiary, Unified Payments is among the first companies to achieve
self-regulatory certification from the Electronic Transactions Association.
Global Payout Inc. (OTC: GOHE), who through its subsidiary, provides electronic wallet and
e-banking financial solutions for the marijuana industry, recently announced transactional data and revenue into Q1 of
2019 which highlights the continued growth, adaptation, and overall benefit to
the one-of-kind MTrac Payment Solution.
As has been the trend since the current iteration of the MTrac system
was deployed back in October, totals associated with daily and monthly sales
and transactional volume along with the average ticket cost processed within
the system continue to climb each month at what the Company perceives to be a
very steady and encouraging pace, and the first quarter is seeing a continuation
of this very positive trend.
Global Payout Inc. and its
wholly owned subsidiary, MTrac Tech Corporation also announced that the US
Patent and Trademark Office has federally registered its patented slogan, ‘The
Key to Cashless®’ under Trademark Registration #5705041.
“This slogan represents our
philosophical vision for the financial solutions our team is delivering to an
industry in need,” said Vanessa Luna, MTrac CEO. “The cannabis industry has, in
my opinion, been federally handcuffed by Schedule 1 classification, and all of
the state-licensed cannabis businesses, who are doing everything correct from a
regulatory compliance perspective to remain in good standing with its state and
local governments, and who are creating jobs and generating tax revenue for the
betterment of communities, have been effectively cut off from traditional
banking services. These organizations have endured many challenges such as high
security costs, managing financial expenditures, and all of the risks
associated with cash-only or cash-heavy operations,” says Ms. Luna.
CannaOne Technologies (CSE: CNNA) is not only focused on the US, but on
international cannabis markets as well, having announced that it has entered into a formal agreement
with Manna Health Services SA de CV of Mexico City ("Manna"), to
undertake the development, launch and operation of an industry leading online
CBD product purchase and delivery marketplace for the Country of Mexico.
"BloomKit, our
enterprise software solution, will give Manna the capability to offer a
flagship and fully operational online CBD marketplace once Mexican regulations
are finalized. For example, It will offer Manna the ability to inherently
monitor and track pick-up and delivery logistics, and the capability to deliver
historical and current trending analytics to ensure optimal management of all CBD
sales channels. It will provide this all with the benefit of a simple and easy
to use built in eCommerce solution."
Medical Cannabis Payment Solutions Inc. (OTC: REFG), another leading provider of regulatory-compliant financial services
for state-sanctioned marijuana, provided an update on its activities in 2018 and its 2019
strategic direction;
"We announced
last September that we have launched our nationwide banking solution for
state-sanctioned cannabis. We're happy to announce today that we have several
dozen accounts open and over 120 applications in our queue," said Jeremy
Roberts, the company's CEO. "Not only does this provide a revenue stream
for the company, but we believe we are the only company currently providing
banking services in all states with legalized cannabis."
"Our corporate
mantra has always been compliance, security and accessibility. And we're
currently hitting on each of those principles. With the commercialization of
Go!, which represents our single most important milestone to-date, we are on
the cusp of an entire new era of growth and expansion as cannabis as well as other
industries begin to adopt our payment solution," continued Mr. Roberts.
Compliance, security
and access will continue to be key factors affecting the cannabis industry and
2019 looks to be a promising year for payment solution companies aiming to put
their products to the test in one of the fastest growing sectors.
For investors
following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX
Marijuana/Hemp Stocks
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