Tuesday, June 6, 2017

SinglePoint’s (SING) Bitcoin Solution Could Solve Cannabis Industry’s Banking Problems

As the marijuana industry continues its brisk forward march — with cannabis now legalized in some form in 29 states as well as the District of Columbia — cannabis dispensaries and other businesses are still faced with the challenge of having no banking options currently available to them, which forces them to conduct cash transactions only. These merchants are clamoring for a solution that has, as yet, been elusive, but SinglePoint, Inc. (OTC: SING) may finally have the answer: bitcoin.

The use of bitcoin, a digital currency, enables financial transactions to be completed independent of banks and free of government regulation — making it an ideal option for marijuana merchants that presently cannot offer their customers credit and debit card payment options due to federal restrictions. SinglePoint has announced an initiative to create a bitcoin payment solution for the cannabis industry that would enable marijuana businesses to accept card payments without the need for federal approval or the cooperation of banks.

SinglePoint’s aim is to develop a bitcoin payment solution that would create a user-friendly experience for customers and allow them to purchase cannabis products using their credit or debit cards. The solution could be easily implemented in any point-of-sale machine by simply downloading an application.

The company’s SingleSeed subsidiary is already engaged in offering mobile marketing and payment solutions to businesses in the marijuana industry, including cashless ATM, Pay-by-Text™ and text message marketing. SinglePoint has also successfully completed technology integrations with companies like RedFynn, Twilio and IATS, as well as with major carriers like Verizon (NYSE: VZ), T-Mobile (NASDAQ: TMUS), AT&T (NYSE: T) and Sprint (NYSE: S), through which it offers text message marketing and text-based payment solutions. The company plans to utilize these integrations as it develops its bitcoin payments technology.

This solution, once ready for implementation, could quickly spread to many stores, where the SinglePoint API could be easily downloaded into existing point-of-sale machines. Cannabis merchants could then begin performing bitcoin transactions via credit and debit card.

This pioneering solution for the banking problems currently faced by marijuana businesses could be a game-changer in this flourishing industry, which has been projected by New Frontier to reach $24 billion by 2026.

For more information, visit the company’s website at www.SinglePoint.com

About QualityStocksNewsBreaks

QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.

QualityStocks (QS)
Scottsdale, Arizona
480.374.1336 Office

Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php

No comments: