Cannabis retailer and consumer payment network CanPay said it has eclipsed half a billion dollars in transparent transactions in states where cannabis is legal.
“Surpassing $500 million in regulated cannabis purchases is a significant milestone for the CanPay network,” CanPay CEO
Dustin Eide said. “Not only does this validate the desire for transparent, low cost, simple payments in the cannabis industry, it also speaks to the strength of the CanPay community. We started in 2016 with just three shops in the Denver area and a handful of consumers. Now, the CanPay community includes more than 800 dispensaries across the country and over 100,000 consumers.”
CanPay presently operates in 31 states and is accepted by 10 of the top 13 public-company, multi-state operators (MSOs). The company provides an app enabling consumers to pay for purchases at cannabis retailers via checking account debiting.
“As CanPay approaches its sixth anniversary of reliably serving the cannabis industry, the choice to join the CanPay community becomes clearer for merchants and consumers with every passing day,” Eide said. “CanPay is a compelling payment solution – the numbers speak for themselves – but I am also excited for the new developments that we will be releasing over the coming months and the additional value they will create for our merchants.”
CanPay’s Direct Linking resource allows consumers to automatically link their bank accounts to the CanPay app, and if consumers prefer the option of manually linking their bank account, they can type in the information.