In the world of medical marijuana sales, there is a reluctance for traditional banks and payment providers to be associated with what remains a controversial area with a fluid legal footing.

However, some companies see this as an opportunity, including Medical Cannabis Payment Solutions, a provider of end-to-end management of medicinal marijuana operations.

The company has announced an upgrade to its site and payment platform. The revamped site features a new investor page with updated company news and financial and stock information.

IMAGE: Adobe Stock

"We have been working for a long time to complete our website and to increase our transparency and provide our customers, partners, investors and the media the information they need in order to understand our best-in-class technology and solutions,” said Jeremy Roberts, Medical Cannabis Payment Solutions' CEO, in a release.

Medical Cannabis Payment Solutions has also rebranded its payment system StateSourced. The company says the product is one of the first purpose-built solutions for cannabis banking that solves cash-handling issues, offers electronic payment and e-commerce features, and provides immediate access to funds while maintaining FinCEN compliance.

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Nick Holland

Nick Holland

Nick Holland is a senior analyst at PaymentsSource. He has previously held analyst roles at Javelin Strategy & Research, Yankee Group and Aite Group.