WEST PALM BEACH, FL--(Marketwired - April 17, 2014) - FastFunds Financial Corporation ("FastFunds" or the "Company") (OTCQB: FFFC) and its wholly-owned subsidiary, Cannabis Angel, Inc., a company involved in providing financing alternatives, corporate finance and general management consulting services to early-stage cannabis companies and projects, have signed a merchant payment processing agreement to offer a debit card payment solution for retail cannabis dispensaries. This program will be offered through the Company's 49% owned subsidiary, Cannabis Merchant Financial Solutions, Inc. ("CMFS"). This payment solution allows dispensaries to accept debit and credit cards by using the PIN number associated with the card being used.
CMFS will arrange within four business days after registration by a dispensary to install a pre-programmed terminal for payment acceptance. This plug and process solution is ready to be installed immediately and can be utilized with only a power source and internet access. The consumer swipes their card, follows the on-screen prompts, and enters their PIN information to complete the sale. The approved transaction will print a receipt/voucher at which point it can be exchanged for goods and/or services with the merchant. The approved funds clear the payers account listed on the ACH authorization form within 48 hours.
Kurt Martig, President of CMFS stated, "We are currently preparing a marketing program and intend to begin offering this exciting new product beginning May 1, 2014."
Henry Fong, Chief Executive Officer of the Company said, "I am pleased that we can introduce this new product as we are committed to continuing to identify payment solutions that dispensaries may use in place of cash pending the eventual acceptance of consumer credit and debit cards by banks and processors."
About Cannabis Merchant Financial Solutions, Inc.
CMFS, located in Centennial, Colorado and Chaska, Minnesota, is dedicated to providing creative financial solutions for the cannabis industry. For more information, please visit the website: www.cannabismerchantfinancialsolutions.com
About FastFunds Financial Corporation
FastFunds Financial Corporation is a holding company that is publicly traded on the Over-the-Counter QB under the symbol "FFFC." The Company currently operates in the financial services industry segment with a single credit card services portfolio. The Company is currently seeking new business opportunities to diversify and complement our current services and products, enhance our technical capabilities and offer growth opportunities for our stockholders; and recently announced the formation of Cannabis Angel, Inc., a company involved in providing financing alternatives, corporate finance and general management consulting services to early-stage cannabis companies and projects.
This news release may include "forward-looking statements" regarding FastFunds Financial Corporation, and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where FastFunds Financial Corporation expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. FastFunds Financial Corporation does not undertake any obligation to update any forward-looking statement, except as required under applicable law.