Medical Cannabis Payment Solutions, Inc. (OTCMKTS:REFG) is a U.S.-based fintech company focused on providing compliant payment and banking solutions to the medical and recreational cannabis industry. Established in 2015, the company addresses the largely cash-driven nature of cannabis transactions—driven by federal restrictions on banking—through its suite of electronic payment products. Services include point-of-sale integration, ACH processing, closed‐loop debit card solutions, ATM deployment, and recurring billing, all designed to meet state-level regulatory requirements and industry best practices.
The company’s flagship offering, CanPay, is a closed‐loop debit payment network that enables cannabis consumers to pay directly from their bank accounts without using cash. CanPay integrates with dispensary point-of-sale systems and back-office software, allowing retailers to reconcile transactions in real time and maintain compliance with state reporting mandates. In addition to debit processing, Medical Cannabis Payment Solutions offers merchant underwriting, risk management, and payment gateway services tailored specifically for licensed cannabis operators.
Medical Cannabis Payment Solutions serves dispensaries, cultivators, processors, and ancillary businesses in multiple regulated markets across North America. The company holds approvals in key states including California, Colorado, Washington, Oregon, Michigan, Arizona and Oklahoma, and continues to pursue partnerships with regional banks, credit unions and state regulators to expand its footprint. Headquartered in Seattle, Washington, the company combines its technology platform with local compliance expertise to help customers navigate evolving legislation and payment network guidelines.
The leadership team at Medical Cannabis Payment Solutions is led by CEO Matthew Morgan, a veteran of the payments industry with over 15 years of experience launching fintech platforms and managing bank relationships. He is supported by executives in compliance, operations and strategic development who bring backgrounds in regulated financial services, technology integration and cannabis policy. Together, they aim to reduce cash exposure in dispensaries, streamline accounting workflows and promote safer, more transparent transactions throughout the cannabis supply chain.
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