Medical Cannabis Payment Solutions (REFG) Provides Banking Solution for State-Sanctioned Medical Marijuana Establishments

September 19, 2018 12:02:04
  • Company fills the cash-free gap left by banks and financial institutions reluctant to work with the medical marijuana industry
  • Provides complete compliance to federal anti-money laundering laws and laws regulating financial crimes
  • 60 million transactions processed monthly and over 100 applications already received from state-sanctioned medical marijuana establishments

Financial technology company Medical Cannabis Payment Solutions (OTC: REFG) announced, in a recent press release (, that it is accepting applications for depository accounts for any state-sanctioned medical marijuana establishment. While most banks and financial institutions are still reluctant to work with those in the medical marijuana industry, this company is excited to fill the gap. With end-to-end management, REFG is solving the fragmentation problem by identifying tools that are important to dispensaries and customizing those tools to the industry. These depository accounts represent one more step toward meeting the challenges faced in a once cash-only industry.

The difficulty lies in maintaining compliance with laws regulating federal money laundering and financial crimes. REFG provides a complete banking solution that documents every stage of…

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