28 November 2015

Budding entrepreneurs push pre-paid cards to weed sellers

26 March 2014  |  4247 views  |  0 Cannabis sales

America's stoners will soon be able to pay for their cannabis using a special pre-paid debit card.

Cannabis has recently been legalised in Colorado and Washington, while several other states have decriminalised the drug or made it legal for medicinal use.

With weed becoming increasingly respectable, specialist firm FastFunds is hoping to move the industry out of the shadowy cash-based economy through a smart card that retail store owners can load for their customers.

The card - which businesses can personalise - will help cut the amount of cash held on premises that could already a tempting target for thieves, argues the firm.

In addition, merchants will be able to operate incentive and rewards programmes in case the cannabis isn't moreish enough to keep customers coming back.

The card will be beta tested in Colorado over the next couple of months with FastFunds hoping to eventually roll it out nationwide.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
BBVA buys 29.5% stake in Atom for £45...
7843 views comments | 34 tweets | 41 linkedin
Former Barclays chief forecasts massive jo...
6208 views comments | 28 tweets | 30 linkedin
BNP Paribas to test contactless payment di...
6135 views comments | 17 tweets | 25 linkedin
Hilton confirms data breach
5439 views comments | 11 tweets | 17 linkedin
Alternative payment methods challenge plas...
5272 views comments | 21 tweets | 23 linkedin

Featured job

to USD $130K base, double OTE
New York City, NY

Find your next job