Startup Announces First Banking Solution For State’s Medical Pot Industry

A Little Rock-based financial technology startup with ties to the Arkansas Medical Marijuana Association has announced it is partnering with an unnamed Arkansas bank to offer electronic payments and financial services to the state’s fledgling medical cannabis industry.

Doing business under a Little Rock partnership called Rockview Digital Solutions LLC, MediPays is the first financial option to emerge ahead of the state’s timetable to score and award one of the initial five licenses for Arkansas’ first pot-growing cultivation by the end of February 2018.

According to company co-founders Dan Roda and Brian Bauer, the Little Rock financial services firm will be accessible to the industry statewide, and will aim to implement its closed-loop, cashless payment system to medical marijuana dispensaries, cultivators and processors that will be selected by the Arkansas Medical Marijuana Commission in the first and second quarter of next year.   MORE

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