SinglePoint (OTC: $SING) Signs Reseller Agreement for High Risk Merchant Processing
SEATTLE, WA - May 9, 2017 (Investorideas.com Newswire) SinglePoint, Inc. (OTC:SING) has signed a new agreement enabling the company to start onboarding 'high risk' merchant accounts. SinglePoint has committed much time and resources to finding solutions for businesses that are considered 'high risk'. Under this new agreement the company can now start onboarding these businesses. Once a business is approved they will be able to sell their products and services just as any other business does. This is another big step in solidifying SinglePoint's position in the payments space. The next milestone will be working to integrate this solution into the company's Pay by Text solution.
Being able to process high risk accounts is a lucrative industry and company executives believe this is not only a viable solution but a profitable one as well. There are over 100 business types that are considered high risk including, auctions, vape pen sales, gambling, online gaming and more. The cannabis industry is projected to reach $24.5 billion by 2025. The company believes when the banks do open and start accepting cannabis businesses they will start out as a high-risk merchant.
- Category: Submitted Articles
- Published: 10 May 2017
- Written by Investor Ideas