PHOENIX, AZ--(Marketwired - Feb 19, 2014) - SinglePoint, Inc. (
Last week, the Obama administration released U.S. government initiatives to ease banking concerns on banks wanting to do business with those that legally sell marijuana. SinglePoint CEO, Greg Lambrecht, states, "This is huge for SinglePoint; a big step in the right direction toward realizing a potential lucrative revenue stream on what looks to be an inevitable shift in legislation."
SinglePoint's all-in-one solution will now handle four different services dedicated to the sale of medical cannabis. SinglePoint's product suite will provide Medical Cannabis dispensaries a user-friendly platform with mobile marketing services, dispensary loyalty cards, mobile payments via text message, and payments via point-of-sale terminals.
Recently, SinglePoint announced that it has prepared to integrate mobile payment systems for the legalized Cannabis Industry in light of rapid industry growth, and widening social acceptance of a drug that not too long ago was recognized as taboo.
"Response was tremendous," says Lambrecht. "We posted our announcement and the next day we were taking meetings with dispensary owners, in person and via phone, in preparation for what we feel will result in a ground-floor opportunity for SinglePoint to expand its brand."
Under the current rules, "every financial institution will have to make its own risk assessment and decide whether it makes businesses sense," said an administration official. "While it may not reassure every bank, we're proving an opening for those who want to serve this sector."
Lambrecht agrees, as he stated last week, "This impacts us directly in terms of overall potential for growth in the Cannabis industry as we have launch-ready products positioned to improve overall efficiency for both buyers and sellers of legalized (State) Marijuana, including our mobile payments IP."
Check out Greg Lambrecht on MoneyTV
About SinglePoint, Inc.
Headquartered in Phoenix, AZ, SinglePoint, Inc. is a state-of-the-art mobile technology company and full-service mobile marketing agency. We operate a best-in-class mobile commerce and communication platform specifically designed to serve the needs of the non-profit community as well as the for profit companies. We make any campaign instantly interactive via the mobile phone. This functionality allows our clients to conduct business transactions, accept donations and engage in targeted communication campaigns with their customers/donors through any mobile devices. Send more messages, create more awareness, and raise revenues and donations.
For more information see www.singlepoint.com
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward- looking statements to reflect events or circumstances after the date of this release.