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National Cannabis Risk Prevention Services Acquires Wholesale Rights to the MG Payments E-Wallet, Mobile Banking and POS Solution.

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MANews-(C)2009-2022

US-based cannabis industry business risk framework assessment specialist National Cannabis Risk Prevention Services (NCRPS) has inked an agreement with MG Payment LLC to acquire the wholesale/re-sale rights its e-wallet, mobile banking, and point of sale cannabis payment processing platform, the company said.

The acquisition will enable NCRPS to offer a custom-designed banking product to serve the needs of banks in states where cannabis is legalized.

Cannabis sales remain illegal on the federal level, forcing industry businesses to resort to state-regulated banks for financial needs.

The industry has also been limited by the absence of compliant payment processing solutions.

NCRPS will address this through its acquisition of MG Payment's products, enabling banking partners to offer the solutions.

This first to market cannabis risk scoring system measures both the severity of risk and its subsequent improvement.

It will enable banks and credit unions to accurately identify and reduce or eliminate risk while enjoying the revenue that a compliant e-wallet, mobile banking, and point of sale transactional system provide, Petrilli said.

NCRPS uses its...

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