The company will acquire the cryptographic payment platform focused on emerging industries
DENVER, CO, 3 April 2018 (GLOBE NEWSWIRE) – CannaSys, Inc. (OTC PINK: MJTK) ("CannaSys"), a marketing, branding and technology company, today announced that it has signed a letter of intent to acquire Hyper Financial Technologies, Inc., a Wyoming-based cryptocurrency payment platform, whose main product operates under the Hyfin ™ brand.
Hyfin is a payment facilitation platform for traders who are increasingly viewed as "high risk" by traditional credit cards and other monetary service companies and transaction platforms. The initial Hyfin product is the Hyfin Multi Alt-coin payment gateway. Global industrial sectors considered "high risk" by traditional credit cards are some of the fastest growing sectors in the world and many of them are present in our daily lives: charities, pawn shops, security and accessories for weapons , online games and even airlines are all considered "high risk" by most banks and traditional credit cards.
Hyfin's Payment Gateway sets it apart from its rivals with finTX ™ Process technology and finSET ™ Control technology, which allows merchants to withdraw funds and instantly convert them to any alt-coin.
It is important to underline that Hyfin's technology will facilitate the deduction of commercial commissions through its proprietary token, Hyfin Coin. Through Hyfin Coin, traders ignored by traditional financial institutions will be able to access an end-to-end solution for the acceptance and processing of transactions regardless of geography.
"We estimate that over $ 200 billion in annual transaction volume of 6 billion annual payment transactions are completely ignored by traditional commercial processors and payment gateways," noted Michael Tew, CEO of CannaSys. "Hyfin offers an alternative payment without charge for these merchants in a seamless end-to-end solution, and its founding team has extensive experience in subscribing these merchants."
The Hyfin team, which has more than a decade of experience in developing and marketing payment gateway solutions for "high risk" merchants, will also implement its proprietary onboarding solution for merchants, including the trading platform merchant finBOARD (Know Your Customer) for fast approvals of cryptographic merchant accounts, which meets the FINCEN standards and follows the anti-money laundering (AML) models developed in the traditional payment space.
Mr. Tew commented: "The Hyfin suite of products is a complementary solution and an additional distribution mechanism for Citizen Toke.The Hyfin suite of products and its expansive business plan will serve as a platform for future" bolted "acquisitions in the sectors of blockchain and financial technology ".
Hyfin's payment gateway is the first step in an extensive product roadmap that includes the development of a single blockchain-based software solution, a token offering and a global onboarding solution. CannaSys intends to provide timely updates to shareholders regarding its continued expansion in blockchain technologies and the acquisition, development and marketing of Hyfin.
About CannaSys, Inc.
CannaSys is a company of technological solutions, marketing and brands. Its core products are provided "software as a service" to facilitate transactions at the point of purchase and marketing solutions for customer relations. CannaSys intends to develop, acquire and build strategic relationships with other companies in order to bring additional solutions to the market. For more information, visit www.cannasys.com. Citizen Toke is the Marchis product by CannaSys that connects retailers, products and brands with new customers through instant and gamified SMS agreements.
This version includes forward-looking statements. Investors are advised that these forward-looking statements involve risks and uncertainties, including continued acceptance of CannaSys products, increased levels of competition for CannaSys, new products and technological changes, CannaSys' dependence on third-party suppliers and others. risks detailed from time to time in the CannaSys periodic reports filed with the United States Securities and Exchange Commission.
Michael Tew 720 420 1290 Michael.firstname.lastname@example.org