Cannabis Merchant Financial Solutions, Inc. Key Developments
FastFunds Financial Corporation and Cannabis Angel, Inc. Introduces Debit Card Payment Solution for Cannabis Industry Through Cannabis Merchant Financial Solutions, Inc
Apr 17 2014..( so this is what FFFC is...) and how it works.
FastFunds Financial Corporation and its wholly-owned subsidiary, Cannabis Angel, Inc. have signed a merchant payment processing agreement to offer a debit card payment solution for retail cannabis dispensaries. This program will be offered through the company's 49% owned subsidiary, Cannabis Merchant Financial Solutions, Inc. This payment solution allows dispensaries to accept debit and credit cards by using the PIN number associated with the card being used. CMFS will arrange within four business days after registration by a dispensary to install a pre-programmed terminal for payment acceptance. This plug and process solution is ready to be installed immediately and can be utilized with only a power source and internet access. The consumer swipes their card, follows the on-screen prompts, and enters their PIN information to complete the sale. The approved transaction will print a receipt/voucher at which point it can be exchanged for goods and/or services with the merchant. The approved funds clear the payers account listed on the ACH authorization form within 48 hours.
NOV 20th 2014
"We have made significant progress in developing a product that will benefit cannabis dispensary owners. We look forward to bringing our product to market and capturing a significant portion of this thriving industry," commented Mr. Kurt Martig, President of Cannabis Merchant Financial Solutions, Inc.
"We're pleased to have entered into an agreement with Chongson and look forward to working alongside Mr. Tommy Chong and his team in bringing the Tommy Chong Cannabis GreenCard to market," commented Mr. Henry Fong, President and CEO of FastFunds Financial Corporation.
The Company believes that recurring revenues can be derived from its ownership in Cannabis Merchant Financial Solutions, Inc. and the Tommy Chong branded Cannabis GreenCard product. Given the numerous transactions that take place within the cannabis industry within retail environments on a daily basis, processing fees are expected to cumulatively multiply as the industry itself grows and matures.
Additional information will be released to shareholders of the Company pertaining to this development in the coming weeks.
So we wait to see what's in this goodie bag... coming soon.
