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Payteller, Blue line joint venture to streamline growing cannabis industry

Denver-based Blue Line Protection Group Inc. and Payteller Finance announced a joint venture to provide security and compliance for the growing marijuana industry.

October 31, 2014

Denver-based Blue Line Protection Group Inc. and Payteller Finance announced a joint venture to provide security and compliance for the growing marijuana industry.

Payteller's Advanced Check-in Kiosk will work in tandem with Blue Line's security, transportation and verification services to provide cash management solutions and compliance for marijuana dispensaries.

"Payteller is cognizant of the emerging requirements for regulatory compliance that dispensaries will face in managing their business, and relying on an established organization to help streamline the cash handling process will be critical to success," said Jeff Foster, founder, Payteller Finance, in a statement. "The partnership between Payteller and Blue Line in offering dispensaries a complete solution provides a solid foundation for growth as well as the reassurance needed in safely managing their business."

"It is our goal at Blue Line Protection Group to make the processing of revenues from the legal cannabis industry as transparent as possible," said Sean Campbell, Blue Lines Chief Executive Officer, in the announcement. "Not only will this keep the industry safe and compliant, but it brings an efficiency to the industry as a whole. With the advent of the Payteller kiosk, many of the issues the industry faces with its reliance on cash and its ability to bank that cash goes away."