LOS ANGELES, Sept. 21, 2010 (GLOBE NEWSWIRE) -- Cannabis Medical Solutions Inc. ( http://www.cannabismedsolutions.com/ ) (OTCBB:CMSI), a leading company specializing in merchant payment solutions and financial security products for medical marijuana dispensaries and high-risk merchant accounts, today announced that the Company has begun the roll out of its' Proprietary MediPayment ™ Card to over one-hundred and fifty medical marijuana dispensaries and compassionate care centers throughout the state of Colorado.
The CMSI proprietary "MediPayment" closed loop payment system will allow both dispensaries and their patients to utilize an alternative payment method other than cash and high rate credit card transactions, with complete tracking, real time transactions and SMS text messaging capabilities to the patients for availability of prescription medication.
"MediPayment™ is the first intelligent and secure transaction option available to medical dispensaries for purchase of medicine and products, eliminating the need for cash only and costly credit card transactions. We intend for Colorado to become a major proving ground and revenue model for our MediPayment™ system allowing patients the convenience of no longer needing to carry cash or to use high rate credit cards, while receiving tracking records and bonus rewards for their purchases," stated Michael Friedman, CEO for Cannabis Medical Solutions.
About Cannabis Medical Solutions
Cannabis Medical Solutions Inc. (OTCBB:CMSI) ( http://www.cannabismedsolutions.com/ ) has quickly become the most recognized brand and partner in both online and wireless niche merchant payment solutions. The Company offers a full spectrum of secure and reliable transaction processing solutions using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) terminals in conjunction with Industry Alliance Partners. The Company has recently focused on providing payment solutions to the licensed medical marijuana dispensaries throughout 14 states. In an effort to keep these businesses within the guidelines of CA Proposition 215, SB 420 and HB 1284, Cannabis Medical Solutions offers reliable merchant payment solutions and closed loop pre-paid stored value and loyalty cards as a unique cash alternative to these regulated dispensaries for both operators and members of collectives. CMSI will seek to capitalize on this presently untapped and much needed solution, and presently provides services to multiple locations throughout California, New Mexico, Colorado and Montana.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Cannabis Medical Solutions Inc. to be materially different from the statements made herein.
CONTACT: Cannabis Medical Solutions Inc. Investor Relations: 800.420.CALL info@cannabismedsolutions.com