Confia supports cannabis entrepreneurs in their efforts to overcome marijuana banking challenges
As the go-to financial platform for cannabis businesses, Confia (“Confia” or the“Company”) is available to discuss marijuana banking and other complexities of the industry with potential clients. The Company took the opportunity to remind interested entrepreneurs concerned about the banking challenges the cannabis industry faces to schedule personalized consultations. Aside from providing clients with a breakdown of their financial services compliance requirements, these private consultations can help remove uncertainties as to the legal and financial position of cannabis entrepreneurs.
Mainly due to the fact that marijuana remains an illegal substance at the federal level, newcomers to the industry are faced with certain dilemmas, which Confia’s team works to help clients solve. As a unique technology platform offering comprehensive banking and financial services for the cannabis industry, the Company has previously announced support for the federal cannabis legalization bill and acknowledged the difficulties entrepreneurs may encounter as they attempt to navigate the complexities of the industry.
Chief Executive Officer of Confia Mark Lozzi explained:“In spite of its current success and even more promising future, the cannabis industry comes with challenges of its own, one of which is that cannabis businesses do not have access to traditional banking services. This is due to the federal regulatory regime. These circumstances may make even the most daring, most forward-thinking entrepreneurs reluctant to launch what could be a thriving business venture, and lock out traditionally underserved communities from business ownership.”
Lozzi continued:“In this industry, there are many external factors to consider, including timing, competition in the market, and access to resources. Confia is here to provide up-to-date information and valuable guidance. We have the capabilities to support ambitious cannabis businesses and facilitate their business processes through a diverse scope of secure financial services uniquely designed for the cannabis industry, with a focus on financial compliance and B2B/B2C transactions.”
“Our portfolio covers digital banking and transaction management, bill pay, unlimited B2B payments, real-time API-powered payment solutions, as well as cannabis funding and lending solutions. The cannabis scene offers attractive growth opportunities. As the industry continues to grow exponentially, we expect the nationwide legalization trend will ultimately eliminate all these cannabis banking and tax policy obstacles, and the SAFE Banking Act may be the first step. But until that day comes, we are here to enable our current and future clients to maximize their business potential safely and with confidence,” Lozzi added.
Confia, operating as the dba for PointChain, is a financial transaction platform that offers the cannabis industry digital bank-like and cash management services, bill pay, unlimited B2B payments, API-powered payment solutions that service both businesses and the consumer, and lending solutions. Confia processes payments in real time, and the platform contains ongoing compliance features and offers trusted relationships with other member companies and clients. To learn more, visit .