Denver, CO -- April 03, 2018 -- InvestorsHub NewsWire
-- CannaSys, Inc. (OTC PINK: MJTK)
(“CannaSys”), a marketing, branding, and technology
company, today announces that it has signed a letter of intent to
acquire Hyper Financial Technologies, Inc., a Wyoming based
cryptocurrency payments platform, whose core product operates under
the Hyfin™ brand.
Hyfin is a payment facilitation platform for merchants that are
increasingly considered “high risk” by traditional credit card and
other money service businesses and transaction platforms.
Hyfin’s initial product is the Hyfin Multi Alt-coin Payment
Gateway. The global industry sectors considered “high risk”
by traditional credit cards are some of the fastest growing
industries in the world, and many of them are mainstream in our
daily lives: charities, pawn shops, weapons safety and
accessories, online gaming, and even airlines are all considered
“high risk” by most banks and traditional credit
cards.
Hyfin’s Payment Gateway sets it apart from its competitors with
its finTX™ Process and finSET™ Control technology, which allow
merchants to withdraw funds and convert them to any alt-coin
instantaneously.
Importantly, Hyfin’s technology will facilitate automated
merchant fee deductions via its proprietary token, Hyfin
Coin. Through Hyfin Coin, merchants ignored by traditional
financial institutions will be able to access an end-to-end
solution for the acceptance and processing of transactions
regardless of geography.
“We estimate that more than $200 billion of annual transaction
volume amounting to 6 billion annual payment transactions are
completely ignored by traditional merchant processors and payment
gateways,” noted Michael Tew, CEO of CannaSys. “Hyfin offers a
chargeback-free payment alternative for these merchants in a
seamless, end-to-end solution, and its founding team has extensive
experience in underwriting these merchants.”
Hyfin’s team, which has more than a decade of experience
developing and commercializing payment gateway solutions for “high
risk” merchants, will also implement its proprietary onboarding
solution for merchants, including finBOARD (Know Your Customer)
merchant onboarding platform for fast crypto merchant account
approvals, which mirrors FINCEN’s standards and follows Anti-Money
Laundering (AML) models developed in the traditional payments
space.
Mr. Tew commented, “Hyfin’s product suite is a complementary
solution to and additional distribution mechanism for Citizen
Toke. Hyfin’s product suite and expansive business plan will
serve as a platform for future bolt-on acquisitions in the
blockchain and financial technology sectors.”
Hyfin’s payment gateway is the first step of an extensive
product roadmap that includes the development of a unique
blockchain based software solution, token offering, and global
onboarding solution. CannaSys intends to provide timely
updates to shareholders regarding its continued expansion into
blockchain technologies and the acquisition, development, and
commercialization of Hyfin.
About CannaSys, Inc.
CannaSys is a technology solutions, marketing, and branding
company. Its core products are delivered “software as a service” to
facilitate point-of-purchase transactions and customer relationship
marketing solutions. CannaSys plans to develop, acquire, and build
strategic relationships with other businesses in order to bring
additional solutions to market. For more information, please
visit www.cannasys.com. Citizen Toke is CannaSys’s marquis
product—connecting retailers, products, and brands with new
customers through gamified, instant SMS deals.
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Investors are
cautioned that these forward-looking statements involve risks and
uncertainties, including continued acceptance of CannaSys’s
products, increased levels of competition for CannaSys, new
products and technological changes, CannaSys’s dependence on
third-party suppliers, and other risks detailed from time to time
in CannaSys’s periodic reports filed with the U.S. Securities and
Exchange Commission.
Michael Tew 720 420 1290 Michael.tew@cannasys.com