We learn from Ganja Law and Ganja Consulting that they have been working in conjunction with a financial technology company based in Colorado (AFN).
This leading financial tech company has created, developed, architected and engineered eXPO™, a fully legal, compliant, and unique electronic exchange portal and mobile applications. This system shall permit cannabis entrepreneurs to make deposits, accept and process merchant services, engage in electronic payroll, send and receive electronically, and electronically pay taxes. AFN is also contracted with a world wide money transmitter to secure its closed loop credit acceptance in more than 500,000 world-wide locations.
AFN, represented in part, by Ganja Law, PLLC, has already secured its registration under the Department of the Treasury/FinCEN as a non-bank financial institution and regulated by the IRS. The company was formally established as a Colorado C corporation in April 2015. eXPO™ shall enable businesses and consumer members, including those within the cannabis space to operate electronic payment processing in an uninterrupted manner.
As an additional revenue base, AFN will be able to blend electronic payments with electronic advertising and social media on platforms set up within cannabis dispensaries. This platform is in partnership with Weedstream.net, an affiliate of a major internet radio station with over 80 million listeners, and should provide the dispensary with a means of advertisement and revenue while it’s customers are waiting.
AFN is getting set to provide a tax recording and collection system to better serve unbanked and/or cash-rich businesses and consumers as well as government in collecting the tax, electronically. Roll out shall begin in Colorado, with applications presently being taken, and then moved to other states in a strategic manner. Governments are in discussion to establish tax collection accounts with eXPO™ as a Government Member. eXPO™ will become an instrumental operating system for state governments to now accurately record and collect sales tax – at the point of sale – in those market sectors of the economy that were previously difficult to track.
The platform is coded to be an end-to-end, seed-to-sale tracking and POS software system in conjunction with an existing leading system. The result is a superior program and its engines add important features and technology that, to this point, have been missing from other track and trace systems in that segment of the mandated government regulations. The components create a top rate payment gateway for states, counties, businesses, and consumers.
AFN will operate on a subscription and transaction based process. Applications are presently being taken for the State of Colorado. For more information and to engage in enrollment.