NetworkNewsBreaks – SinglePoint’s (SING) Bitcoin Solution Could Make Marijuana Industry’s Banking Problems a Thing of the Past

Marijuana has now been legalized in some form in 29 states and in the District of Columbia, yet marijuana dispensaries and other cannabis-related businesses lack access to banking options, forcing them to conduct cash only transactions. SinglePoint, Inc. (OTC: SING) may at last have found the answer for these currently “unbankable” businesses by developing a bitcoin payment solution that would enable cannabis users to purchase marijuana products using debit or credit cards.

“The company’s SingleSeed subsidiary is already engaged in offering mobile marketing and payment solutions to businesses in the marijuana industry, including cashless ATM, Pay-by-Text™ and text message marketing. SinglePoint has also successfully completed technology integrations with companies like RedFynn, Twilio and IATS, as well as with major carriers like Verizon (NYSE: VZ), T-Mobile (NASDAQ: TMUS), AT&T (NYSE: T) and Sprint (NYSE: S), through which it offers text message marketing and text-based payment solutions. The company plans to utilize these integrations as it develops its bitcoin payments technology. This solution, once ready for implementation, could quickly spread to many stores, where the SinglePoint API could be easily downloaded into existing point-of-sale machines. Cannabis merchants could then begin performing bitcoin transactions via credit and debit card.”

To read the full article, visit: http://nnw.fm/K5IfZ

About SinglePoint, Inc. 

SinglePoint, Inc. (SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. Through its subsidiary company SingleSeed the company is providing products and services to the cannabis industry. For more information visit www.SinglePoint.com or www.SingleSeed.com

About NetworkNewsBreaks

NetworkNewsBreaks (NNB) provide a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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