Replies to post #14252 on Itonis Inc (ITNS)

[Goberkir]

It looks like it's actually a way for any merchant to verify the validity of a check. Reason this is a big deal right now is since MJ is still illegal on the federal level, credit card company policies prohibit CC transactions at these facilities. So for right now it is cash only business, unless the merchant wants to take the risk of accepting a check. This looks to be huge if they can roll it out quickly. If/when MJ is legalized on the federal level this app will be much less needed, but it still fills a bit of a gap for many merchants who would like to accept checks. Just my two cents, hope it helps!

[MODiFiEDZ]

Its like Paypal but without the ridiculous 3% fees.
Will be a low flat rate fee per transaction so it will cost the same for a $50 or a $5,000 transaction.
If you paid via Paypal they charge the seller $150 (3%) for a $5,000 payment.