RocketFuel Introduces Crypto Payment Solution for Cannabis Dispensaries and Merchants

Rhea-AI Summary

RocketFuel (OTC: RKFL) announced its innovative payment solution for cannabis dispensaries, allowing them to accept transactions in Bitcoin and over 50 cryptocurrencies. This integration aims to resolve the banking challenges faced by the cannabis industry, providing a secure, efficient alternative to cash payments. Merchants can implement RocketFuel’s one-click payment interface, which promises low transaction fees and ease of use, thus opening new revenue channels. The service is compliant with FinCEN guidelines, addressing the regulatory landscape for cannabis payments.

Positive

• RocketFuel's payment solution addresses long-standing banking challenges for cannabis merchants.
• The service allows merchants to accept Bitcoin and 50+ cryptocurrencies, enhancing payment options.
• Merchants benefit from low transaction fees and a secure payment interface.
• The integration supports online delivery orders where permissible by local regulations.

Negative

• None.

SAN FRANCISCO, July 26, 2021 /PRNewswire/ -- RocketFuel (OTC: RKFL) ("RocketFuel" or the "Company"), a global provider of one-click online payment options using Bitcoin and 50+ other cryptocurrencies, today announced that it will be making its payment solution available to be used by licensed cannabis dispensaries and merchants. Integrating RocketFuel into the merchant's payment checkout will ensure that, unlike the typical cash transactions which come with security and logistical problems, merchants can accept crypto payments from users who have cryptocurrencies in a private wallet or in certain crypto exchange accounts. This service will even cover online delivery orders if they fall under permissible local regulations. RocketFuel will be compliant with FinCEN guidance on providing financial services to the cannabis industry.

Cannabis merchants partnering with RocketFuel will benefit from low transaction fees and complete payment security.

Due to laws at the Federal level restricting the presence of banks within the cannabis sector, merchants and businesses have long struggled to offer convenient payment mechanisms to their shoppers - many of whom are used to paying online but often can't when it's a cannabis store. With RocketFuel's easy one-click payment interface, shoppers will no longer have to resort to creating cannabis-specific debit cards or travel to shops to pay in cash; cannabis purchases from licensed dispensaries can be done with a mobile phone using the RocketFuel API. This will greatly benefit merchants who can finally take advantage of the ease of online crypto payments and generate additional revenue channels while paying low transaction fees on a completely secure and efficient interface.

"RocketFuel's payment solutions are a game-changer for the cannabis industry which has long been denied access to traditional banking facilities like opening businesses accounts and having access to credit/debit card facilities. The growth of cryptocurrencies however has leveled the playing field for the industry and has given the control of transactions to merchants who no longer have to depend on banks for handling their financial transactions," said Peter Jensen, CEO of RocketFuel.

About RocketFuel Blockchain, Inc.
RocketFuel is a global payments solution provider that provides online shoppers with a simple, easy-to-use, one-click checkout process that accepts payments with Bitcoin and 50+ cryptocurrencies. RocketFuel provides a highly secure and efficient shopping cart experience with significantly low fees for merchants, along with the benefits of no chargebacks and no card declines. RocketFuel's solutions focus on enhanced customer privacy protection eliminating the risk of a data breach while improving speed, security, and ease of use. Shoppers on RocketFuel powered online stores enjoy seamless check-out and forget the clunky cart paradigm of the past. RocketFuel merchants are able to implement new impulse buying schemes and generate new sales channels that are unavailable in other present-day e-commerce solutions. More information about RocketFuel is available at: www.RocketFuelBlockchain.com

Forward-Looking Statements
The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as "may," "might," "would," "should," "could," "project," "estimate," "pro-forma," "predict," "potential," "strategy," "anticipate," "attempt," "develop," "plan," "help," "believe," "continue," "intend," "expect," "future," and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management's current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company's products and services; competition from existing products or new products that may emerge; the implementation of the company's business model and strategic plans for its business and our products; estimates of the company's future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company's competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company's filings with the Securities and Exchange Commission ("SEC"), including its Annual Report on Form 10-K for the fiscal year ended March 31, 2021. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.

COMPANY CONTACT
Kurt Kumar
Email: Contact@RocketFuelBlockchain.com

INVESTOR CONTACT
Ben Yankowitz
Email: B.Yankowitz@RocketFuelBlockchain.com  

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/rocketfuel-introduces-crypto-payment-solution-for-cannabis-dispensaries-and-merchants-301341079.html

SOURCE RocketFuel Blockchain Inc.

FAQ

What is RocketFuel's new payment solution for cannabis dispensaries?

RocketFuel has introduced a payment solution that allows cannabis dispensaries to accept Bitcoin and 50+ cryptocurrencies, providing a secure and efficient alternative to cash transactions.

How does RocketFuel's payment system benefit cannabis merchants?

Cannabis merchants can enjoy low transaction fees and enhanced payment security while accessing new revenue streams through cryptocurrency payments.

Is RocketFuel's payment solution compliant with regulations?

Yes, RocketFuel's payment solution is compliant with FinCEN guidance on providing financial services to the cannabis industry.

When was RocketFuel's press release about the payment solution issued?

The press release was issued on July 26, 2021.

What cryptocurrencies does RocketFuel accept?

RocketFuel accepts Bitcoin and over 50 other cryptocurrencies as part of its payment solution.