Confia announces product improvements in time for 420
Cannabis Industry’s Leading Tech Resource Deploys Payment Enhancements and Managed Escrow Services
Irvine, Calif., April 18, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — Confia (“Confia” or the “Company”), a leading fintech provider offering best-in-class transaction banking, proprietary payment network and financial compliance for the cannabis industry, today announced new product advancements and retail offerings, just in time for the April 20 “420” cannabis industry holiday.
Confia has rolled out key product enhancements including ConfiaPay customer payment enhancements, B2B payment and usability enhancements, and automated accounting software system reconciliations, particularly for bill payments and bill receipts. The planned enhancements are designed to make payments easier for its members and provide them with a more direct path to their transaction requirements, in addition to simplified accounting.
Confia has also launched a first managed escrow service for buy-sell transactions for its members, which is designed to create trust and transparency in the cannabis industry.
“Our retail customers will benefit from a major sales boom over the 420 holiday, and Confia is proud to be here to provide them with simple and streamlined payments, while maintaining compliance in this highly regulated industry,” said Mark Lozzi. , CEO of Confia. “Our new customer enhancements will simplify the process of accounting reconciliations with the goal of reducing duplicate entries for business operators. Financial services should be easier to access for cannabis businesses, and we look forward to helping our customers with our simplified banking service and our payment platform.
The ever-changing landscape of transaction banking for the cannabis industry has propelled Confia’s growth in recent months, where it has full coverage in California, the world’s largest legalized cannabis market.
Confia also recently announced two industry-leading social equity programs, with notable players in the cannabis industry, Eaze Momentum and NCIA. Eaze’s Momentum Business Accelerator makes Confia the preferred financial services provider for its members. Confia will offer Momentum participants and alumni preferred financial services terms, access to financial planning resources, and banking fees of just $250 per month. In addition, Confia financially sponsored Momentum’s grant program and hosts financial services workshops throughout the year.
The NCIA’s Diversity, Equity, and Inclusion (DEI) Program will oversee and validate all social equity applicants through its Social Equity Scholarship Program (SESP). The NCIA operates one of the largest social equity initiatives in the nation, and all NCIA verified SESP members will be eligible for Confia’s financial services platform for a fee of $250, a global discount of 50%.
Confia is also pleased to announce its first acquisition improving and expanding functionality for its members and enabling the company to help traditional banks serve emerging markets and high-risk businesses.
For more information about Confia and to learn more about the platform, visit https://www.confia.io/.
Confia, operating as the dba for PointChain, is a financial technology platform that provides the cannabis industry with transaction banking, payment network, lending solutions, API-powered payment capabilities and full-service cash management. Confia’s service hosts a best-in-class compliance program and promotes business, transactions and trust among members of its network. For more information, visit www.confia.io.