InvestorsHub Logo
Post# of 112680
Next 10
Followers 404
Posts 2400
Boards Moderated 2
Alias Born 09/05/2013

Re: mattsinvestmentclub post# 89175

Friday, 09/29/2017 4:24:21 PM

Friday, September 29, 2017 4:24:21 PM

Post# of 112680
Ur not understanding... Adp etc make way more. Call the company they are doing it with. I did... this isn't anything ground breaking they are basically what's called an ISO... like a sales person where 90% of the money goes to actual company. Also I'm sure u guys don't know anything about FinCen, Or what KYC is (know your client) rules related to all this where as I happen to know because I've been doing this much longer than mcig has. They also don't have a compliance engine for processing which is the main thing you need because if u don't have that u have a service that will be canceled and interrupted...More importantly banks will take the money if you have a compliance engine as well as over 15 years of a banking relationship with zero issues. That is the only way you can do payment processing in mj effectively.

Did anyone here see a Legal Opinion for all of the banking and processing that outlined the business model etc? I didn't, but would think that would be considered a material event because something like that is unbelievable to have. It's like having a license to Sell Cannabis legally in 50 states, it will also cost you 6 figures+ and that's after a review that what you're about to get reviewed has a shot. Anyone on here can become an independent sales agent for a MJ processor. You will have a job for a month until u get shut down, interrupted or canceled.

So to respond to your post, I don't think you understood the sentence, but also those companies mentioned have $100m dollar compliance engines and back ends, mcig has at best a white labeled processing component. And FYI the rate they are getting is terrible when u consider an ISO in this field is making 2% or higher which leads me to believe someone is getting the lions share of that.