- If Visa and MasterCard (or others) choose to participate in the marijuana industry in the future, REFG plans to offer quick, full spectrum payment processing
- REFG’s StateSourced payment gateway is Financial Crimes Enforcement Network (FinCEN) compliant
- Medical marijuana sales will grow to $13.3 billion by 2020, and adult recreational marijuana sales are expected to reach $11.2 billion by 2020, according to Forbes
Medical Cannabis Payment Solutions (OTC: REFG) is ready for the future with a seamless transition in the event that Visa or MasterCard (or others) choose to participate in the marijuana industry. In the event of a transition, full spectrum payment processing would be readily available.
REFG provides dispensaries and related businesses with a proprietary merchant processing system designed to serve the needs of state-legalized cannabis markets. The company offers exclusive and proprietary card processing services not otherwise available through most financial institutions. The goal is to offer simple, compliant and secure payment solutions. These solutions apply to the entire cannabis industry — not just medical marijuana retailers. A growing number of marijuana dispensaries and other businesses elect not to participate in a cash-only transaction environment.
REFG is a first-tier merchant processing cannabis industry pioneer. It offers a state-of-the-art system that tracks sales and tax collection. The mission of REFG is to provide end-to-end management, across multiple management systems, to solve the fragmentation problem of medicinal marijuana operations by identifying tools that are important to them.
Offering another processing feature, the company recently announced its partnership agreement with First Bitcoin Capital Corporation (OTC: BITCF) (http://cnw.fm/Slc9M). The agreement will enable marijuana facilities and their consumer clients to conduct payment processing with StateSourced debit cards, in addition to prominent cryptocurrencies such as $Weed and bitcoin. The additional option is available to both dispensaries and consumers, per company reports.
Forbes reports that sales of medical marijuana will reach $13.3 billion by 2020, and adult recreational volume is expected to hit $11.2 billion by 2020 (http://cnw.fm/qkk5Q) .
For more information, visit the company’s website at www.REFG.co
More from CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks 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, CNW 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. CNW 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, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
For more information please visit https://www.CannabisNewsWire.com