Business
Accelerated Technologies Holdings Corporation (OTCMarkets stock symbol: ATHC) and its subsidiary Intelagy anticipates digital payment sector to grow due to Cannabis
Accelerated Technologies Holdings Corporation (OTCMarkets stock symbol: ATHC) and its subsidiary Intelagy anticipates digital payment sector to grow due to Cannabis.
About this update from Accelerated Technologies Holding Corp.
[{"type":"text","content":"Intelagy’s Business Management Suite Targets Cannabis and Digital PaymentsWhile the gambling sector’s payment and processing options are expanding under landmark court decisions; updated, industry-friendly legislation; and widespread public acceptance, the still-emerging legal cannabis industry continues to struggle to move its payment options into the mainstream. It remains illegal for cannabis dispensaries to accept credit or debit cards under federal law—even in states where sale of the plant is legal. The industries however created a number of subindustries that are legalized for retail and are anticipated to increase opportunities within the digital payment industry. Intelagy’s suite of products will help organizations in the vastly growing Cannabis space to better handle every aspect of their operations. These Include operational oversight, controls, operational efficiencies, financial teaming, marketing, Internal reporting, regulatory compliance and payment processing. “Cannabis is still classified as a Schedule 1 drug in the United States by the Controlled Substance Act. But it’s medically legal in 29 states and recreationally legal in eight. Canada legalized cannabis in June, and the entire country will soon allow the sale of the drug for medicinal and recreational purposes. We believe the United States will adapt similar laws. The most common payment innovation in cannabis dispensaries is a cashless ATM. Intelagy hopes to contribute and support the growth, management and regulation of the Cannabis industry across all aspects.” Said Kading, President ATHCHowever, major credit card companies such as Visa, Mastercard, and American Express continue to reject PIN debit or credit card transactions in both the United States and Canada. So, the cannabis industry—awash in billions of dollars of cash—is desperately seeking workarounds and finding crypto and offshore processing solutions.Intelagy believes cannabis legalization is coming, it’s just a matter of when. It makes sense to prepare for the additional commerce that will follow and require advances management tools, reporting and analytics for sustainability and controls. For more information visit www.athcorp.comStatements made in this letter include certain forward-looking statements, management's objectives, strategies, beliefs and intentions. The Companies do not inten...