Financial & Banking

Digital Wallets Optimizing Faster and Secure Pay

Amanda Hicok
Written by Amanda Hicok

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Cash payments are a hassle. They hold up lines, are inconvenient, and in the case of dispensaries, the money can be seized. To combat these issues, many locations are beginning to use digital wallets for quick and safe cashless transactions.

Digital wallets, a cousin to online baking, streamline the payment process safer than cash or credit cards. It simply links a debit card to a carrier, be it Apple, Android, or Google Pay, and transmits that information to a vendor.

One day, medical and adult use dispensaries will take most, if not all, forms of digital wallets. But for now, there is only one form of cashless transactions at dispensaries, and that is through a company called CanPay, a mobile app specifically for the cannabis industry.

The idea of being able to walk into a dispensary and pay with just a digital device makes not only the customers happier with less wait times, but also retailers, for whom it can mitigate the risk of having a cash business through legal compliant transactions. Fourteen states have already allowed CanPay electronic payments in their dispensaries. Now it is only a matter of time before full legalization begins and the cannabis industry allows all forms of digital wallets.

References:

About CanPay debit payments for merchants in emerging markets. Retrieved June 17, 2018, from https://www.canpaydebit.com/about-us/

About Author:

Amanda is a freelance graphic designer, artist, and founder of Papernative. She fell in love with the graphic arts while studying abroad at Parsons Paris the New School and later in her hometown of San Diego.

About the author

Amanda Hicok

Amanda Hicok

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