Chicago, IL, Aug. 28, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CannaTrac® Technology, Inc., the leading cashless payment solution for the cannabis industry, today announced that it has garnered media coverage in HEMP Mag.
“Our team is honored to be included in HEMP Mag’s article on the National Credit Union Association’s newly issued guidance regarding providing of banking services to businesses in the hemp industry,” said Thomas Gavin IV, Vice Chairman and CEO of CannaTrac®. “We are proud to be recognized for providing the cashless payment solution that is needed to support this growing industry.”
In the article titled The End of Hemp’s Federal Banking Problem is in Sight, published on August 20, 2019, the article speaks on the recent advancements made by the National Credit Union Association (NCUA), which prompts a new era for the reemergence of hemp in the United States. The NCUA announced on August 19, 2019, that it was issuing guidance to its member institutions on providing banking services to businesses in the hemp industry. The guidance provided by the NCUA also serves as a template for providing banking services to companies operating in state-legal marijuana markets.
The article goes on to highlight Gavin’s take on the advancement and why he believes progress for hemp producers will translate into support for bills pending in Congress to protect financial institutions that do business with legal marijuana companies. Gavin said, “By allowing credit unions to open their doors to hemp and CBD businesses, the federal government is facilitating the industry’s path to the overall goal, acceptance for the entire legal cannabis industry.”
For more information about CannaTrac®, visit https://www.cannatrac.com/.
ABOUT CANNATRAC®
CannaTrac® is dedicated to bringing safety to the cannabis industry by serving as the industry’s leading cashless mobile payment system solution. CannaTrac® created the CannaCard® and the CannaCard App™ to provide consumers and retailers with a convenient way to benefit from increased safety and convenience through cashless purchases within the legal cannabis industry. Shop.Pay.Earn Rewards™ with the CannaCard®. To learn more about CannaCard® or register as a merchant, please visit https://cannatrac.com/