Hawaii will be the first state to make a key push for cashless cannabis payments. In September, Gov. David Ige and state banking institutions commissioner Iris Ikeda said CanPay, via an agreement with Safe Harbor Private Banking, will process sales transactions at retail shops in 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, like the cannabis industry. Banking institutions pertain to be a part of the CanPay network and merchants with a bank account at one of those particular institutions can accept CanPay debit transactions from customers who may have enrolled for a CanPay debit account.
Still “near e-commerce” continues to be the norm in lots of areas, and it still offers benefits over bricks-and-mortar like online price comparisons, a wider selection, delivery and ordering online ahead for faster pickup with a dispensary, Brochstein says.
In California, Eaze, Meadow and GreenRUSH Delivery all in various ways connect dispensaries with consumers through the web. Getmeadow.com, for example, is surely 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 buy marijuana hash online.
In 2016 Getmeadow launched Meadow Platform, an application-as-a-service platform for California dispensaries to provide cannabis retail sales and delivery. It contains tools for inventory management, analytics, on the internet 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 using the web through its site and app.
To utilize the service, a consumer must register with her email and telephone number and submit a picture 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 if 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 from the herb. In the 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 thirty seconds. The report is based on market research of 15,000 consumers and Eaze’s database of 350,000 consumers. An Eaze spokesman says it’s too soon for Eaze to discuss data on purchases through its site since cannabis was was created legal for recreational utilization in California on Jan. 1 .
“After Californians voted for adult [recreational] use within 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 are becoming better educated about the wellness benefits available from cannabis. As prohibition ends as well as a new era of marijuana emerges in 2018, we’ll see increased awareness drive diverse product adoption among new sets of people and then change lives for the better.”
“When federal law changes, this will modify the game entirely,” Canto says. “At that point, the distribution side in the industry should 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 about their products. Cannabis sellers can market their goods online via marketplaces like MassRoots. The cannabis rfvtdy has a lot more than 1.5 million app downloads as well as its website has tens of thousands of page views monthly, 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, including lower back pain, nausea or epilepsy.
“If it were legal to sell cannabis on the internet and ship it, it could start an entire new revenue channel and likely significantly accelerate our growth,” the MassRoots spokeswoman says.
As the National Cannabis Industry Association’s West is sure businesses would like to sell products straight to consumers online, the cannabis sector is extremely regulated and most of the association’s clients are centered on other priorities. Those priorities include legalization, taxation easement, open banking access for proceeds-as currently there is no law protecting financial service companies that provide services to marijuana-related legitimate business and many cannabis sellers have trouble receiving and looking after use of accounts-and clear digital marketing rules, she says.