The legal cannabis industry is going from strength to strength, but banking reform that will allow dispensaries to receive the same financial services used by every other business remains a distant dream. This has typically meant that cannabis retailers are stuck as cash-only operations, which is risky for the business and inconvenient for the customer.
Operating on a cash-only basis isn’t just inconvenient and risky for marijuana dispensaries, it is also an annoyance for many customers who don’t want to have to withdraw from an ATM every time they make a purchase. To overcome this, many cannabis retailers are adopting cashless payment alternatives from ACH bank transfers to point of
Retailers across various industries have long seen the benefit of offering gift cards customers can use to make purchases. Whether conventional physical cards or digital ones, gift cards provide another sales option while increasing brand awareness and offering the possibility of using them in conjunction with customer retention and loyalty programs. Such benefits could be
Despite generating $17.5 billion in sales in 2020, marijuana businesses still largely operate on a cash basis due to federal cannabis prohibition. This represents a staggering 46 percent year-on-year increase, and it is widely expected to continue on this trajectory as more and more states move to reform their cannabis laws and open up to
