Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • CannaOne (CNNA) to acquire a majority stake in Payright Ltd
  • This business relationship will provide CannaOne with a strategic geographic and financial partnership to service the global markets
  • Payright, headquartered in Singapore, is operating as a payment processing solutions provider for the global eCommerce market
  • CannaOne has focused on the development and deployment of its proprietary online marketplace platform
  • CannaOne (CNNA) is down 2.67 percent and is trading at C$0.73 at 3:53 pm EST

CannaOne Technologies (CNNA) has entered into a memorandum of understanding to acquire 51 per cent of Singapore-based Payright Pte Ltd.

This business relationship will provide CannaOne a strategic geographic and financial partnership to service the global markets by working with an established company headquartered in Singapore, the FINTECH capital of Asia.

Payright, headquartered in Singapore, is operating as a payment processing solutions provider for the global eCommerce market.

Payright is working in an exclusive partnership with Right Choice Payments Pte Ltd. which is a Major Payments Institution license holder in Singapore.

Payright will provide to CannaOne global payment processing solutions for merchant acquiring, and through white label partnerships with card issuing providers can further provide card issuance services.

“With Payright under the umbrella of CannaOne, it will become part of an organization with a clearly defined implementation strategy that imparts a truly global approach and aerial viewpoint to the FINTECH sector at large,” stated James Kodrowski, founder of Payright regarding the transaction.

“I am personally extremely excited with the prospects that lie ahead,” added Kodrowski. stated James Kodrowski

“We are pleased about the collaboration ahead with Payright and the entire Right Choice Capital business enterprise as we to continue to strive to execute on our corporate goals and objectives,” Michael Penner, President & CEO of CannaOne noted.

CannaOne has focused on the development and deployment of its proprietary online marketplace platform.

CannaOne (CNNA) is down 2.67 percent and is trading at C$0.73 at 3:53 pm EST.

More From The Market Herald

" American Aires (CSE:WIFI) fortifies supply chain

American Aires (WIFI) has opened two new international fulfillment centers in Poland and Australia.
Draganfly - CEO Cameron Chell.

" Draganfly (CSE:DPRO) announces partnership with Women And Drones

Draganfly (DPRO) has partnered with Women And Drones, a global platform for women who are shaping the future of STEM and aviation.
Nuvei - CEO, Philip Fayer.

" Nuvei (TSX:NVEI) receives approval to process payments for digital sports betting platforms in New York

Nuvei (NVEI) has been granted approval by the New York State Gaming Commission to process payments for licensed digital sports betting platforms.
Quisitive - CEO, Mike Reinhart (right).

" Quisitive Technology Solutions (TSXV:QUIS) upgraded to OTCQX Best Market

Quisitive Technology Solutions has been upgraded to the OTCQX Best Market from the OTCQB Venture Market.