Specialized holding company Singlepoint, Inc. (OTC: SING) this morning announced its entry into a new agreement enabling the company to start onboarding ‘high risk’ merchant accounts. “We are providing multiple solutions to the cannabis space and we are trying to do the same in the payments space as well,” Greg Lambrecht, CEO of SinglePoint, stated in the news release. “Being able to offer a payment solution to multiple different verticals gives the company a larger target market to tap into. We believe high risk is a huge opportunity and an underserved market at this point.” The new solution will offer approved merchants the ability to process payments in-store, online and through point-of-sale systems. Additionally, SinglePoint plans to integrate its Pay by Text solution for these clients in the near future. Per this morning’s update, ‘high risk’ accounts represent a broad collection of over 100 business types, including auctions, vape pen sales, gambling, online gaming and more, which typically offer higher margins than traditional accounts. This new reseller agreement falls in line with SinglePoint’s recent moves in the legal cannabis space, as the company anticipates that those operations will also be classified as ‘high risk’ when banking options are made available to the burgeoning industry.
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About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. Through its subsidiary company SingleSeed the company is providing products and services to the cannabis industry. For more information visit www.SinglePoint.com
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