OCEANSIDE, Calif., March 4, 2014 (GLOBE NEWSWIRE) -- Citadel EFT, Inc. (OTCQB:CDFT) has been helping companies for over 20 years establish a merchant account for credit card processing today announced that the Company is exploring providing a comprehensive processing solution for the legal marijuana industry.
Citadel is beginning the process to provide a comprehensive real time fully electronic payment and banking solution that is safe, legal and fully compliant with Federal and State laws which would be an industry specific payment solution designed specifically for the legal marijuana industry. This will earmark the growing business plan of the companies banking solutions into one of the fastest growing industries.
On February 14, 2014, US Department of Justice stated… "financial institutions can provide services to marijuana-related businesses in a manner consistent with their obligations to know their customers and to report possible criminal activity."
Gary DeRoos, President of CDFT stated, "We plan to offer solutions that are bank independent which don't require the use of credit/debit cards or ACH transfers. We are joining this market with a real solution for the burgeoning legal marijuana industry with a solution that offers trusted commerce along with compliance of state laws with full transparency to the authorities. I am determined to continue with positive progress in executing our strategy for the greatest potential for shareholder return by accelerating CDFT's growth plans."
Management is excited to lead the Company and its shareholders into the future. The legal marijuana industry is estimated at about $1B to $1.5 Billion annually and is expected to grow to about $40 Billion to $120 Billion as more states legalize marijuana for both medical and recreational use.
About Citadel EFT, Inc:
Citadel EFT, Inc. http://www.credit-card-processing.com has been helping companies for over 20 years establish a merchant account for credit card processing. Citadel has no monthly fee and no minimums for our credit card service. As a merchant of ours, you can process credit cards like Visa, MasterCard, Discover, American Express, EBT, Checks and ATM Cards, Citadel ships your credit card machine, free of charge.
FORWARD LOOKING STATEMENT
CDFT cautions that statements made in the press release constitute forward-looking statements, and not guarantees of future performance, and the actual results or developments may differ materially from projections in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time the statements are made.
Gary DeRoos 714-423-0701 Email Contact: www.credit-card-processing.com