CannabisNewsBreaks – SinglePoint, Inc. (SING) Continues Focus on Solving Payment Issues for ‘Unbankable’ Legal Cannabis Businesses
Through building a diversified holding base, SinglePoint, Inc. (OTC: SING) has developed from a full-service mobile technology provider to a publicly traded holding company, and its SingleSeed subsidiary is working to solve an issue that is currently plaguing legal cannabis businesses: a lack of traditional banking options. Because of federal restrictions, marijuana merchants in the United States do not have the backing of the FDIC and, consequently, must largely conduct cash transactions because they do not have a means of processing credit and debit cards. An article further discussing this reads: “Analysts predict that the medical marijuana and recreational cannabis…