MediSwipe, Inc. Announces Green Light to Provide Merchant Processing & Banking Services to Medical Marijuana Dispensaries Nat...
April 30 2014 - 9:00AM
Marketwired
MediSwipe, Inc. Announces Green Light to Provide Merchant
Processing and Banking Services to Medical Marijuana Dispensaries
Nationally
LOS ANGELES, CA
--(Marketwired - April 30, 2014) - MediSwipe, Inc.
(www.MediSwipe.com) (OTCQB: MWIP), a fully reporting
company on the OTCQB and leader in Compassionate Care Technology
and indoor/outdoor agricultural solutions for the medicinal
marijuana industry, today announced that the Company has received
final approval through its exclusive merchant processing
partnership and associated banking network to offer banking and
card services to medical dispensaries nationally. All licensed
medical dispensaries in regulated jurisdictions are now eligible to
utilize card services as an alternative to "cash only" transactions
through partnering with the MediSwipe processing division.
Medicinal and recreational businesses in licensed jurisdictions who
take advantage of the MediSwipe card program will additionally
receive corporate bank accounts with one of the top ten ranked
banks in the United States.
MediSwipe has submitted approximately 400 medical dispensaries
based in Colorado under the exclusive agent relationship to its
banking arm for immediate consideration and to begin the
application process this month. The Company expects to begin
activating first accounts for card services and banking over the
next 30 days.
"As the first public Company in this sector to originally offer
banking services to medical dispensaries, we have always maintained
our exclusive relationships within the banking sector. We have
remained in compliance by staying out of the processing industry
once cards were banned approximately two years ago, waiting for
legislation to once again approve alternative banking solutions to
cash only transactions for what is quickly becoming a multi-billion
dollar industry throughout 20 states that have approved some form
of legislation for medicinal marijuana. Any dispensary or merchant
processing company prior to this new break in legislation that have
been utilizing card services has done so in a grey area and under a
miscoding of the business and may be subject to termination under
the new guidelines provided by our national banking partner. The
card and banking services now being provided by MediSwipe will
require and allow the application for processing to be written as a
canna-business, with the added benefit of a corporate bank account
with one of the 10th largest banks in the U.S. Looking at the
perspective business in Colorado alone which consists of 400
dispensaries we have already reserved exclusively with our
processor, we are hoping to provide yet another revenue stream for
our company and shareholders immediately which could equate to
several million dollars a month in gross processing volume of which
we receive fees from," stated B. Michael Friedman, CEO of
MediSwipe.
Any medical dispensary or canna-business in regulated states may
contact MediSwipe immediately to begin the application process and
open a corporate bank account in the business name.
About MediSwipe, Inc. MediSwipe, Inc. (www.MediSwipe.com), the
first fully reporting Company and pioneer within the medicinal
marijuana space provides innovative patient and agricultural
solutions seeks to be the leader in Compassionate Care Technology
for the medicinal marijuana industry. MediSwipe provides real
estate management and health and wellness product lines including
beverages, vaporizers and accessories. MediSwipe does not directly
grow, harvest, or distribute or sell cannabis or any substances
that violate United States law or the Controlled Substances Act,
nor does it intend to do so in the future.
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 MediSwipe, Inc. to
be materially different from the statements made herein.
Contact: MediSwipe,
Inc. 561.249.6511www.MediSwipe.cominfo@mediSwipe.com
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