Cannabis Medical Solutions Inc. (OTCBB:CMSI), a leading company specializing in both brick-and-mortar and online merchant payment solutions and financial security products for medical marijuana dispensaries and high-risk merchant accounts, today announced that CMSI has signed four new medical marijuana dispensaries as partners for merchant processing, POS systems and enrollment into the new "MediPayments" closed loop card system for patients.
"The response has been overwhelming from our medical dispensary clients seeking participation in our 'MediPayments' pilot program. MediPayments will be the first closed loop payment system allowing patients to purchase, track and view in real time all transactions for the purchase of medical marijuana without the use of cash or traditional credit card services. Using similar technology of a prepaid insurance card, MediPayments was designed by CMSI with our banking partners to not only allow an alternative payment source other than cash or credit cards, but to allow dispensary owners to track patient use, pay tax revenues to states and municipalities, and notify patients of strain availability, provide real time transactions with card to card money transfers through participating banks, in location, Internet and mobile devices," stated B. Michael Friedman, CEO of CMSI. "As previously announced, we expect to roll out the program over the next few weeks," further stated Friedman.
About Cannabis Medical Solutions Inc.
Cannabis Medical Solutions Inc. (OTCBB:CMSI) has quickly become the most recognized brand and partner in both online and wireless niche merchant payment solutions. The Company offers a full spectrum of secure and reliable transaction processing solutions using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) terminals in conjunction with Industry Alliance Partners. The Company has recently focused on providing payment solutions to the licensed medical marijuana dispensaries throughout 14 states. In an effort to keep these businesses within the guidelines of CA Proposition 215 and SB 420, Cannabis Medical Solutions offers reliable merchant payment solutions and closed loop pre-paid stored value and loyalty cards as a unique cash alternative to these regulated dispensaries for both operators and members of collectives. CMSI will seek to capitalize on this presently untapped and much needed solution, and presently provides services to multiple locations throughout California, New Mexico, Colorado and Montana.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Cannabis Medical Solutions Inc. to be materially different from the statements made herein.
NewsHawk: Ganjarden: 420 MAGAZINE
Source: Benzinga.com
Author: Benzinga Staff
Contact: Benzinga.com
Copyright: 2010 Benzinga.com
Website: Cannabis Medical Solutions Announces New Agreements With Medical Marijuana Dispensaries In Colorado
* Thanks to MedicalNeed for submitting this article
"The response has been overwhelming from our medical dispensary clients seeking participation in our 'MediPayments' pilot program. MediPayments will be the first closed loop payment system allowing patients to purchase, track and view in real time all transactions for the purchase of medical marijuana without the use of cash or traditional credit card services. Using similar technology of a prepaid insurance card, MediPayments was designed by CMSI with our banking partners to not only allow an alternative payment source other than cash or credit cards, but to allow dispensary owners to track patient use, pay tax revenues to states and municipalities, and notify patients of strain availability, provide real time transactions with card to card money transfers through participating banks, in location, Internet and mobile devices," stated B. Michael Friedman, CEO of CMSI. "As previously announced, we expect to roll out the program over the next few weeks," further stated Friedman.
About Cannabis Medical Solutions Inc.
Cannabis Medical Solutions Inc. (OTCBB:CMSI) has quickly become the most recognized brand and partner in both online and wireless niche merchant payment solutions. The Company offers a full spectrum of secure and reliable transaction processing solutions using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) terminals in conjunction with Industry Alliance Partners. The Company has recently focused on providing payment solutions to the licensed medical marijuana dispensaries throughout 14 states. In an effort to keep these businesses within the guidelines of CA Proposition 215 and SB 420, Cannabis Medical Solutions offers reliable merchant payment solutions and closed loop pre-paid stored value and loyalty cards as a unique cash alternative to these regulated dispensaries for both operators and members of collectives. CMSI will seek to capitalize on this presently untapped and much needed solution, and presently provides services to multiple locations throughout California, New Mexico, Colorado and Montana.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Cannabis Medical Solutions Inc. to be materially different from the statements made herein.
NewsHawk: Ganjarden: 420 MAGAZINE
Source: Benzinga.com
Author: Benzinga Staff
Contact: Benzinga.com
Copyright: 2010 Benzinga.com
Website: Cannabis Medical Solutions Announces New Agreements With Medical Marijuana Dispensaries In Colorado
* Thanks to MedicalNeed for submitting this article
