State-of-the-art merchant processing and financial services provider Medical Cannabis Payment Solutions had some big news this week.

The company, which provides to state sanctioned cannabis, has executed its first agreement to process payments for state-sanctioned cannabis using its proprietary system, StateSourced. StateSourced ill be used in each of the client’s establishments.

The company’s first customer is a vertically integrated marijuana establishment in Las Vegas.

“We’ve completed our transition from development stage to revenue stage,” stated Jeremy Roberts, CEO of Medical Cannabis Payment Solutions.

“We have just started our business development efforts and the market is responding very well. We anticipate having many more, similar releases.”

Robert also mentioned that the company has not wanted their name disclosed yet.

“They’d like to avoid having customers rush to use a system that isn’t quite deployed in each of their locations.”

“We are very pleased to have secured our first contract,” Roberts remarked.

“The industry wants the type of security, simplicity and compliance we offer. We’re excited to be the solution to their concerns. When customers are made aware of our ability to comply with FINCEN, avoid the problems spelled out in the Cole Memo, they’re telling us there isn’t an alternative; we’re it.”

 


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