Point of Banking Solution for the Medical Marijuana Sector Dutch Gold Offers Alternative Merchant Service for MMJ Retailers
March 20 2014 - 9:00AM
Access Wire
Atlanta, GA / http://www.myprgenie.com/ via ACCESSWIRE / March
20, 2014 / Dutch Gold Resources, Inc. (DGRI.OTC) (the "Company")
today announced that it has entered into an agreement to
immediately begin to offer a Point of Banking solution to MMJ
merchants as an alternative to traditional merchant account
services and to facilitate secure merchant transactions.
It is virtually impossible for MMJ retailers to acquire merchant
accounts, and they are typically subject to very high rates if they
are somehow able to actually secure a merchant account. Dutch Gold
Resources, Inc. will begin offering Point of Banking solutions to
the MMJ sector to give retailers access to card processing and to
reduce costs for the industry.
Point of Banking functions as a "cashless ATM Machine" that
allows retail merchants to accept bankcards without the high
processing fees associated with either a traditional or high-risk
merchant account. All processing fees for approved transactions are
paid for by the cardholders through a small convenience fee that is
added to the transaction amount being charged to the customer's
card, similar to using an out-of-network ATM machine. Point of
Banking uses a terminal configured to run PIN-based transactions
that most merchants place right at the cash register. Whole dollar
amounts are run in increments of $5 or $10. The terminal prints a
two-part receipt, so both the merchant and the customer can keep a
copy. Funds are electronically deposited into the recipient’s bank
account.
The Company has partnered with CyoGate, LLC, which owns and
operates the CyoGate Internet Payment gateway, one of the quickest
and most cost effective ways to accept and process credit card and
electronic check payments. The CyoGate Internet payment gateway
works with dozens of merchant processors around the world, and is
supported on hundreds of popular web shopping carts and ecommerce
platforms.
"We are extremely pleased to have Dutch Gold as a premier
payment solutions partner, said Jonathan Castleman, CEO of CyoGate,
"and we believe that their expertise and positioning in the
industry, combined with CyoGate’s leading-edge payment solutions,
effectively solves the biggest challenge facing legal MMJ
dispensaries and delivery services today."
Under the terms of the agreement Dutch Gold will be able to
offer mobile, Internet, and high risk transaction processing and
Point of Banking merchant solutions. The Company will begin
marketing the Point of Banking product immediately. Interested
customers are asked to contact info@DutchGoldInc.com for
information.
Forward-Looking Statements
This press release contains forward-looking statements that
reflect the Company's current expectation regarding future events.
Actual events could differ materially and substantially from those
projected herein and depend on a number of factors. Certain
statements in this release, and other written or oral statements
made by Dutch Gold Resources, Inc. are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors,
which are, in some cases, beyond the Company's control and which
could, and likely will, materially affect actual results, levels of
activity, performance or achievements. The Company assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. Important factors that could cause actual
results to differ materially from the company's expectations
include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in documents filed
by the company from time to time with the United States Securities
and Exchange Commission and other regulatory authorities.
For further information, please see http://www.dutchgoldinc.com/
or please contact Daniel Hollis, CEO of Dutch Gold Resources, Inc.
at 404-981-7424.
Source: Dutch Gold Resources, Inc.