Money Matters: How to Sign Up for CanPay (& Why You Should!)
As anyone who’s ever visited a dispensary knows, the cannabis industry has a money problem. Because most banks—fearful of running afoul of federal regulations regarding income derived from an “illegal” source—refuse to serve cannabis dispensaries, most of them are forced to operate on a cash-only basis. It’s inconvenient—even dangerous—to customers and dispensary staff alike. And despite major pushes by lawmakers, it’s a problem that persists.
Fortunately, there’s hope on the horizon. In the absence of a long-term solution—more on that in a moment—a new cannabis-friendly debit app is making the simple act of shopping for cannabis a whole lot more convenient. It’s called CanPay, and we’re big fans. In bringing a clever and intuitive solution to the issue of cannabis transactions, in fact, it may just be a game-changer. Here’s the backstory.
Some financial experts caution that because cannabis is still a Schedule I drug under federal law, the bill doesn’t provide banks total protection against prosecution. But here at Green Goods, we remain hopeful. We’re hoping that the eventual passage of the SAFE Act will simplify our transactions and reduce overhead costs.
Needless to say, we’ll keep you up to date on news concerning this important milestone. And we thank you for your business! We hope that offering CanPay as an option will make for an even simpler, more convenient, and more pleasurable shopping experience for you!
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