Payments News

On The Web

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Use

Senate Push to Legalize Weed Is Mixed Blessing for Pot Payment Firms

“A group of Senators is pushing for federal cannabis legalization this year, which would open the market for mainstream payment providers — and bring heavy competition to the payment companies that pioneered this space. Senate Majority leader Chuck Schumer (D-N.Y.), and Sens Cory Booker (D-N.J) and Ron Wyden (D-Ore.) promised to release a discussion draft […]
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Regulation

Banks Navigate Hazy Regulations to Serve Cannabis Businesses

“Many financial institutions looking to offer banking services to the expanding number of legal cannabis growers and distributors in the U.S. are still limited by spotty regulations and expensive compliance efforts. The disparities between federal and state laws governing the use of marijuana and hemp, and the differences across states, are inhibiting banks from stepping […]
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Deals

Nabis raises $5m Series A to grow its cannabis distribution platform

“Nabis is a business to business distributor, handling logistics, payment, and warehousing. Instead of being a distributor for beer, snacks, or pet supplies, Nabis is a cannabis distributor. The company acts as a middleman between cultivators and retail establishments, providing both parties unique services. Since it’s illegal to ship cannabis through traditional means, most cannabis […]
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Global

Online Cannabis Marketplace Dutchie Now Taking Visa, Mastercard Payments In Canada

“In an exclusive conversation online cannabis marketplace operator Dutchie revealed it has been quietly processing Visa and Mastercard payments in Canada since Thursday, April 9, enabled by a partnership with secure payment solutions provider Merrco. While cannabis is federally legal in Canada – unlike the U.S., implementing digital and/or contactless payment solutions continues to pose a […]
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Deals

These Brothers Just Raised $15 Million for Their Startup, Dutchie, a Kind of Shopify for Cannabis Dispensaries

“Ross Lipson comes from an entrepreneurial family, so perhaps it’s no wonder that as a college student, he dropped out of school to jump into the online food space, including co-founding, then selling , one of Canada’s first online food ordering service startups. It’s even less surprising that having gone through that experience, Lipson would […]

On The Wires

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Use

Blackbird and AeroPay Announce Strategic Partnership to Bring Cashless Payments to Cannabis Businesses for Online Ordering

“Blackbird, a cannabis software and delivery company, and AeroPay , a leading financial technology company that provides payment processing solutions to the cannabis industry, announced a strategic partnership to bring cashless payments to cannabis businesses for online ordering. The partnership includes an integration of AeroPay’s payments platform into Blackbird’s white-labeled dispensary menus and the BlackbirdGo […]
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Use

ICICI Bank Canada Visa* Debit Card Launched

“ICICI Bank Canada today announced the launch of a debit card. Named, ‘ICICI Bank Canada Visa Debit Card’, it offers customers an unparalleled benefit of online shopping, purchasing at millions of retail outlets across the world and making quick contactless payments at Point of Sale (PoS) machines across Canada. This card also empowers customers to […]
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Use

Although A Long And Arduous Process, Casco Bay Hemp Is Excited To Announce They Are Now Accepting Credit Card Payment For Their CBD Products

“Like the majority of companies in the CBD product sales business, Casco Bay Hemp lost their credit card processing capabilities 4 months ago. The majority of businesses were using Elavon, who unfortunately stopped all hemp processing, leaving everyone in the lurch.  Starting September 1st, 2019 Casco Bay Hemp was accepted into the pilot program for Square’s CBD/Hemp division, a […]
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Domains

POSaBIT Launches Fully Compliant Mobile Payments Technology for Cannabis Industry

“POSaBIT , a leading financial technology company delivering unique blockchain-enabled payment processing and point of sale (POS) systems for cash-only businesses with a focus on the cannabis industry, announced the rollout of its fully compliant mobile payments system for dispensaries across states. POSaBIT’s new handheld device allows for compliant processing of mobile delivery that could […]