can paya legitimate payment network for cannabis merchants and consumers now available at more than 1,000 participating retailers in 31 states in the USA
CanPay’s app allows consumers to pay for purchases from cannabis retailers with a simple debit from their checking account through the automated clearing house network. Merchants with a compliant bank account with a CanPay approved financial institution can join the CanPay network quickly and easily.
Hundreds of financial institutions now fund the cannabis industry with compliant services available in all legal state markets. CanPay recently more than $750 million in transparent transactions in states where cannabis is legal.
“As more states with legal recreational and drug sales come online in 2023—and more financial institutions choose to fund the cannabis industry—we’re excited to offer even more consumers fast, free, and secure transactions. We’re especially proud to be available in more than 1,000 stores nationwide, having started with just three in the Denver area nearly seven years ago,” he said Dustin Eide, CEO of CanPay. “Transparent, simple and inexpensive payments are a must in the cannabis industry and our continued adoption speaks to the strengths of our solution.”
The app’s proprietary Purchase Power tool creates custom spending limits with a maximum daily customer spending limit of $5,000. According to the company, this is the highest advertised spending limit in the cannabis industry.
Get your daily dose of Cannabis News on Benzinga cannabis. Don’t miss any important developments in the industry.
Photo: Benzinga edit with photo by Kindel Media on Pexels
Similar news
CanPay partners with Seed and Beyond to optimize the merchant and consumer experience
[ad_2]
Source story
