Originally published on Global Newswire
Denver, CO, Jan. 16, 2018 (GLOBE NEWSWIRE) — Blue Line Protection Group, Inc.(OTCPink: BLPG) is proud to announce a partnership with Hypur, a financial technology company in Scottsdale, Arizona. This agreement will allow Blue Line to expand into five additional states with marijuana-related business (MRB) and money service business (MSB) markets over the next 12 to 14 months.
Blue Line has become the key provider of independent, third-party compliance investigations, armored transportation and cash processing for financial institutions banking the legal cannabis industry, with 10,000 client locations serviced and $400 million processed in 2017. Hypur offers electronic payments, on-demand ID verification, digital document management and enhanced due diligence software that utilizes level 3 data. By combining Blue Line’s services with Hypur’s technology, financial institutions and businesses in Arizona, Oregon, Washington, California and Nevada will now be able to use a one-stop compliance, payment, logistics and cash transportation system to create a complete chain of cash custody.
“We’re confident that Blue Line’s partnership with Hypur will provide the transactional, compliance and cash processing services so important to the health and longevity of the growing legal cannabis industry,” said Dan Allen, Blue Line’s CEO. “This partnership leverages the strengths of both companies to provide an unparalleled suite of services for financial institutions seeking a comprehensive approach to facilitating regulatory bulletproof B2B and B2C transactions.”
“We’ve partnered with Blue Line because of the exceptional safety and soundness of its services for the past four years in Colorado. They are the most comprehensive cash transportation and audit firm we have found. By combining its services with Hypur’s proactive compliance, enhanced due diligence and beneficial ownership technologies, we are confident that no other solution in the United States can enable financial institutions to bank both cannabis and money service businesses in a more transparent and compliant manner,” says Christopher E. Galvin, Founder and CEO of Hypur.
About Blue Line Protection Group, Inc.
Blue Line Protection Group provides consulting, armed security, compliance and investigations, transportation and secure vaulting services to banks, businesses and government entities who need to protect their assets, licenses and clients. Blue Line serves banks and credit unions by providing currency processing and transportation solutions, and its risk mitigation services help financial institutions serving cash-intensive industries comply with federal “know your customer” mandates. For more information, visit www.BlueLineProtectionGroup.com.
Hypur is a financial technology company based in Scottsdale, Arizona that brings innovative solutions to the toughest banking and commerce challenges. Its cutting-edge technology provides a range of services centered around compliance and payments for financial institutions, businesses and their customers. With Hypur, challenges become opportunities. For more information, visit www.hypur.com.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.