CannaTrac Subsidiary CTI Processing, Inc. Expands Merchant Processing Operations Into European Markets

CHICAGO, IL – (NewMediaWire) – April 01, 2021 – CannaTrac® Technology, Inc. (“CannaTrac” or “the Company”), announced today that its wholly-owned merchant processing subsidiary CTI Processing, Inc. (“CTI Processing”), has expanded its operations and is now offering its merchant processing solution to companies operating in Europe.

“When we launched CTI Processing about a year ago, we saw a huge market in helping businesses struggling to find reliable merchant processing with reasonable rates,” said CannaTrac Vice Chairman and CEO Thomas Gavin IV. “Since then, we have seen an influx of businesses interested in our solutions and have built strong relationships with many customers.”

CTI Processing is challenging the high rates commonly associated with merchant processing by providing end-to-end payment processing and merchant solutions at lower rates. This also gives businesses a chance to keep more of their hard-earned revenue as they recover from COVID-19 pandemic-related shut-downs. As a result of this expansion, CTI Processing is now offering these benefits to companies operating in Europe.

In addition to lower-than-market-average merchant processing rates, CTI Processing provides its customers with the most up-to-date equipment and state-of-the-art technology for a streamlined payment process. The Company also announced earlier this month that new businesses can now be onboarded with customized solutions into their system within just 36 hours of receiving completed paperwork.

For more information about CTI Processing, visit https://ctiprocessing.com/.

About CTI Processing

CTI Processing, Inc. is a wholly-owned subsidiary of CannaTrac® Technology, Inc. CTI Processing serves low-to high-risk industries, including, but not limited to accounting/tax preparation, nutraceuticals, CBD/hemp, credit repair, debt consolidation, electronics, non-profit organizations and property management. 

CTI Processing, Inc. is an ISO and not a money transmitter. They provide the service to facilitate the purchase of goods or services or the payment of bills for goods or services. The Company neither accepts nor transmits funds on behalf of the merchants. The company operates through clearance and settlement systems that admit only BSA-regulated financial institutions. The Company provides the service pursuant to a formal agreement and the agreement is at a minimum with the seller or creditor that provided the goods or services and receives the funds.

To learn more about CTI Processing, Inc. or inquire as a merchant, please visit: https://ctiprocessing.com/.

ABOUT CANNATRAC®

CannaTrac® is dedicated to bringing safety to the cannabis and hemp industries by serving as the industry’s leading cashless mobile payment system solution. CannaTrac® created the CannaCard® to provide consumers and retailers with a convenient way to benefit from increased safety and convenience through cashless purchases within the legal cannabis industry. Shop.Pay.Earn Rewards™ with the CannaCard®. To learn more about CannaCard® or register as a merchant, please visit https://cannatrac.com/.

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