24 September 2017
visit www.avoka.com

Budding entrepreneurs push pre-paid cards to weed sellers

26 March 2014  |  5002 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)

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)
visit www.temenos.comdownload the paper nowvisit www.abe-eba.eu

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
13524 views comments | 28 tweets | 44 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
10092 views comments | 13 tweets | 28 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8636 views comments | 19 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
8486 views comments | 16 tweets | 1 linkedin
ISO 20022: The common language of choiceISO 20022: The common language of choice
8248 views comments | 1 tweets | 2 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job