KANSAS CITY, Mo., Oct. 08, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – Dama Financial announces it has finalized a strategic partnership with Helix TCS (OTCQB: HLIX) to facilitate secure and compliant financial transactions on Helix’s BiotrackTHC® platform, the market leader in commercial seed-to-sale software for the legal cannabis industry.
Helix TCS will integrate Dama’s payment processing software, PayMyWay℠, to offer an additional payment method and access to a banking solution to BiotrackTHC® licensees. The integration will allow merchants to accept electronic payments using the PayMyWay℠ mobile app at point of sale and have access to a compliant online bank account where sales revenue can be securely deposited.
“We are constantly working to identify solutions to critical infrastructure challenges that cannabis business owners face today. We are pleased to announce that via our partnership with Dama Financial, operators no longer have to worry about secure and compliant payment processing or banking,” said Helix TCS CEO and Executive Chairman Zachary L. Venegas.
Leveraging years of experience in underbanked and cash-intensive industries, Dama Financial provides cannabis-related businesses (CRBs) with best-in-class financial solutions. Using Dama’s cutting-edge technology, CRBs can manage all of their banking and payment needs via one platform, akin to any non-cannabis-related business, eliminating the hassle and risk associated with cash-intensive businesses.
Helix TCS and its wholly owned subsidiary BioTrackTHC® have been bringing both proprietary and integrated solutions to the legal cannabis industry that enable clients to manage their businesses compliantly and securely, grow sales, and maximize efficiency of operations.
“The BiotrackTHC® team is undoubtedly leading the future of automated technology for businesses in the seed-to-sale supply chain. We are proud to partner with them and look forward to pioneering the conversion of a cash-based economy to a digital economy,” stated Dan Henry, CEO of Dama Financial.
About Dama Financial
Dama Financial, through its partner banks, provides transparent, sustainable banking and payment solutions to legitimize the rapidly growing cannabis industry. Using innovative technology, data and artificial intelligence, Dama Financial exceeds the compliance and regulatory requirements for servicing high-risk businesses. Dama Financial’s industry experts are enabling another unbanked category to achieve their potential by removing the barriers that exclude them from accessing fundamental financial solutions. For more information, visit www.DamaFinancial.com.
Dama Financial is an agent of its partnering financial institutions and licensed money transmitters. Customer funds will be deposited into a custodial account maintained for the benefit of account holders at one or more FDIC-insured institutions. Fees, terms and conditions apply to depositing funds into and using an account managed by Dama Financial. Account Terms and Conditions and Fee Schedule are available upon registration to access the online application.
About Helix TCS Inc.
Helix TCS Inc. (HLIX) is a leading provider of critical infrastructure services, helping owners and operators of licensed cannabis businesses stay competitive and compliant while mitigating risk. Through its proprietary technology suite and security services, Helix TCS provides comprehensive supply chain management, compliance tools, and asset protection for any license type in any regulated cannabis market. Helix TCS’ products reach over 2,000 customer locations in 38 states and six countries and has processed over $18 billion in cannabis sales. For more information on Helix TCS and to sign up for investor updates, visit at www.helixtcs.com.
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: our ability to fund our operations and pay any outstanding debt; fluctuations in our financial results; general economic risks; the volatile nature of the market for our products and services and other factors that could impact our anticipated growth; our ability to manage our growth; changes in laws and regulations regarding the cannabis industry and service providers in the cannabis industry; reliance on key personnel; our ability to compete effectively; security and other risks associated with our business; intellectual property risks; and other risk factors set forth from time to time in our SEC filings. Helix TCS assumes no obligation and does not intend to update these forward-looking statements, except as required by law.