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CanPay CEO Presents New Debit Payment Solution For Marijuana Industry

Submitted by Marijuana News on Tue, 11/22/2016 - 08:40

On Thursday, CanPay announced the first debit payment solution for the expanding legal marijuana industry has become available to retailers and consumers in the states of Washington, Oregon and Colorado. The service has already launched in 15 retail stores across Washington and Colorado, solving the cash-only problem that troubles the legal cannabis industry.

“CanPay partners exclusively with a multi-state network of financial institutions that are banking the cannabis industry under compliance programs meeting strict federal guidelines, ensuring the continued stability and legitimacy of CanPay’s services,” the company explained.

Ahead of the service’s debut, Benzinga had the chance to chat with the company’s CEO Dustin Eide.

A Little Background

“Our history was in standard-risk payments processing… and [we] realized early on that there might be an opportunity to bring a professional approach to an industry that was highly regulated and appeared to have a lot of payment options that were subject...

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