Hawaii will be the first state to generate a key push for cashless cannabis payments. In September, Gov. David Ige and state financial institutions commissioner Iris Ikeda said CanPay, through an agreement with Safe Harbor Private Banking, will process sales transactions at retail shops within the state.
CanPay, a debit payment service, offers a payment method beyond cash. It facilitates electronic payments between consumers and retailers in highly-regulated and emerging markets, such as the cannabis industry. Financial institutions affect be a part of the CanPay network and merchants having a bank account at among those institutions can accept CanPay debit transactions from customers who have signed up for a CanPay debit account.
Still “near e-commerce” remains to be the norm in many areas, and it also still offers benefits over bricks-and-mortar including online price comparisons, a wider selection, delivery and ordering online ahead for faster pickup at a dispensary, Brochstein says.
In California, Eaze, Meadow and GreenRUSH Delivery all in different ways connect dispensaries with consumers via the web. Getmeadow.com, for example, is definitely an on-demand directory connecting patients to dispensaries for cannabis delivery. It also operates Meadow MD, a telemedicine platform connecting patients to physicians for online evaluations for weed online.
In 2016 Getmeadow launched Meadow Platform, an application-as-a-service platform for California dispensaries to offer you cannabis retail sales and delivery. It includes tools for inventory management, analytics, online and mobile ordering, delivery tracking and logistics, compliance and patient intake.
Eaze, meanwhile, which launched in 2014 and bills itself as being a marijuana technology company, connects cannabis product brands, dispensaries and doctors to customers via the web through its site and app.
To make use of the service, a consumer must register with her email and phone number and submit a photo of her ID to verify her age. Eaze then texts her back once approved and she could order her goods for delivery, although she must pay once the item is delivered. The service, which started for medical marijuana users, connecting consumers with doctors and offering online medical forms, says it offers amassed 350,000 users in California. A comparable service, called GreenRUSH, also collects payments on delivery.
Marijuana delivery is popular among fans in the herb. In its Eaze Insights: 2017 State of Cannabis data report released today, Eaze says it delivered marijuana every 10 seconds in 2017, a 200% increase over 2016, when it was delivered every half a minute. The report is dependant on a survey of 15,000 consumers and Eaze’s database of 350,000 consumers. An Eaze spokesman says it’s too soon for Eaze to talk about data on purchases through its site since cannabis was was developed legal for recreational use in California on Jan. 1 .
“After Californians voted for adult [recreational] use in November 2016, many consumers shifted their mindset and have become more open to using cannabis to enhance their everyday lives,” says Jim Patterson, CEO of Eaze. “Americans have grown to be better educated concerning the wellness benefits available from cannabis. As prohibition ends along with a new era of marijuana emerges in 2018, we’ll see increased awareness drive diverse product adoption among new teams of people and continue to change lives for your better.”
“When federal law changes, this can modify the game entirely,” Canto says. “At that time, the distribution side in the industry will come out and flourish.” Federal law still prohibits marijuana sales.
The patchwork of marijuana laws, however, doesn’t stop the growers and sellers from sharing information regarding their goods. Cannabis sellers can market their products online via marketplaces including MassRoots. The cannabis rfvtdy has a lot more than 1.5 million app downloads and its website has hundreds of thousands of page views every month, says a MassRoots spokeswoman. Consumers can see prices, find dispensaries near them, read reviews on different cannabis strains, and browse which symptoms the plant aids, such as back problems, nausea or epilepsy.
“If it were legal to sell cannabis on the internet and ship it, it would open a whole new revenue channel and likely significantly accelerate our growth,” the MassRoots spokeswoman says.
As the National Cannabis Industry Association’s West is certain businesses would love to sell products right to consumers online, the cannabis sector is extremely regulated and a lot of the association’s clients are focused on other priorities. Those priorities include legalization, taxation easement, open banking access for proceeds-as currently there is absolutely no law protecting financial service firms that provide services to marijuana-related legitimate business and lots of cannabis sellers have trouble receiving and maintaining usage of bank accounts-and clear digital marketing rules, she says.