part one/ great reading, their coming to AMERICA/Phoenix,AZ. re; Jun 23, 2014, 2:53pm MST Phoenix's SinglePoint partners to offer debit card payment terminals for marijuana dispensaries
Hayley Ringle Reporter- Phoenix Business Journal Email | Twitter | LinkedIn | Google+ SinglePoint Inc., a Phoenix-based mobile payment technology and marketing company, has partnered with two other firms to provide legal medical and recreational marijuana business owners with the ability to process debit card payments at their dispensaries.
SinglePoint joined with Advanced Content Services Inc., a Fort Wayne, Indiana-based Cannabis Card distribution company, and GreenHouse Payment Solutions LLC, a Denver-based company that provides payment processing solutions for the medical marijuana industry.
The three companies formed Denver-based GreenStar Payment Solutions Inc. May 22 to help turn these marijuana dispensaries from cash-only businesses to offering electronic debit card payments. It’s believed to be one of the first and largest companies offering debit card purchases in marijuana dispensaries, said SinglePoint CEO Greg Lambrecht.
“Right now we’re extremely excited to give customers the option to pay with their debit cards,” said Lambrecht, a GreenStar board member. “It’s a huge step in the right direction.”
In 2013, medical marijuana dispensaries generated more than $2 billion in revenue. The combined sales of legal recreational and medical marijuana in the U.S. are projected to reach more than $8 billion in 2018, according to Marijuana Business Daily.
These cashless ATM terminals, which have been installed in 100 dispensaries during the past year and a half, circumvent federal banking regulations that prevent the cannabis industry from accepting electronic payments.
The federal government won’t let dispensaries have bank accounts or accept credit card payments, and banks could lose their Federal Deposit Insurance Corporation certification if they’re caught “laundering” money, even if it’s from legal marijuana dispensaries, Lambrecht said.
idgc has the coffee dispenser/ is there ah time when released? 6-25-14 ID Global Corporation Announces Update for the>>>>> Green Rush™ Cannabis/Hemp Product Line Chicago, Illinois--(June 25, 2014) – ID Global Corp. (OTC: IDGC) is pleased to announce that it is in the final stages of packaging design and negotiations with manufacturers on its first wave of cannabis/hemp products featuring the GREEN RUSH™ brand.
The first products focused on for the 3rd qtr of 2014 is GREEN RUSH™ Nutraceutical Ground Coffee and Cannabidiol (CBD) infused Energy Drinks.
Sebastien DuFort, president and CEO stated "We are on a fast track plan with outsource manufacturers to get the coffee line in production.
CBI is in final stages the packaging design and we feel confident that we can announce our first test market in the early part of the third quarter.
There will be many more corporate updates over the next few weeks as we seek to expand our footprint in the sector.”
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