Operational Security Solutions (OSS) Collaborates With Monarch Technologies’ Monarch Tax Authority To Help Municipalities Clear Cannabis Tax Hurdles
News provided byOperational Security Solutions
Nov 20, 2023, 8:00 AM ET
Premier Risk Management Company Collaborates With Banking and Payment Processing Solution Experts Monarch Technologies’ Monarch Tax Authority Program (MTA)
FRESNO, CA, Nov. 20, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Operational Security Solutions (“OSS”), the premier provider of full-spectrum risk management services with specialization in secure cash management and logistics, compliance services, security consulting, and facility hardening, announced today that the company has collaborated with leading Cannabis Fintech banking and payment processing solutions provider, Monarch Technologies, to support its platform Monarch Tax Authority (MTA).
Monarch Tax Authority is a comprehensive and seamless tax payment and reporting platform offering from Monarch Technologies, allowing for local cities, municipalities and state agencies to collect cannabis fees and tax revenue from industry operators. In addition, Monarch gives municipalities access to accurate sales and compliance data in real-time, ensuring local cities receive correct cannabis tax revenue from businesses. For cities and municipalities, handling cannabis compliance and taxation can present time-consuming and expensive complexities.
“As the cannabis industry markets mature, municipalities tracking cannabis tax revenue and fees are looking for more secure cash solutions,” said Scott Solomon, CEO of Operational Security Solutions. “We are proud to be part of the solution through our partnership with Monarch Technologies, offering the latest solutions for emerging trends within this space. The MTA platform is a step toward eliminating complex regulatory burdens and streamlining financial revenue collection and compliance.”
"Through our partnership, Monarch and OSS ensure that municipalities will have increased access to more accurate cannabis tax revenue, sales, and compliance data in real-time," said Christian Fea, CEO & Co-Founder of Monarch Technologies. "With MTA’s comprehensive platform, there’s a vast reduction in self-reporting requirements and in the delinquent tax and fee collection process for cities. Monarch makes it automatic, consistent and predictable.”
Monarch Technologies offers customized banking, payment processing systems and automated taxation services for the cannabis industry businesses. Monarch is a licensed Money Transmittal Services company that operates as a Cannabis Fintech services provider for the legal cannabis industry, serving all types of Cannabis license holders, governmental entities, and consumers.
OSS offers industry-leading security offerings, cash intensive and high risk-specific financial service solutions and relationships, connecting highly regulated businesses that struggle to get banking services with financial institutions that have specific programs designed for the industry or organizations that are unable to be serviced by certain banks. Notably, OSS boasts a no-loss record to-date. To learn more about OSS visit www.opsecsolutions.us.
About Operational Security Solutions
Operational Security Solutions (OSS) was assembled in 2017 by a team of former law enforcement, military and federal service professionals to support the security and banking needs of high-risk, cash-intensive industries. OSS supports two dozen financial institutions and more than 250 high risk businesses through bicoastal operations based in California and Philadelphia. Service offerings include secure cash management and logistics, Cash-In-Transit services, security consulting, and compliance services. OSS breaks down the real risks for industries that have limited access to banking services and provides the solutions needed from long years of law enforcement and federal government experience.
About Monarch Technologies, Inc.
Monarch Technologies, Inc. is a leading integrated Cannabis fintech platform for financial institutions, government organizations, software developers & Cannabis license holders in North America. If you're looking to create your own fintech offering in the Cannabis space, the Monarch platform will allow you to quickly create your own compliance, banking, payments, mobile app and taxation products and services through one, centralized platform.
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