17 March 2018

Budding entrepreneurs push pre-paid cards to weed sellers

26 March 2014  |  5119 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.nextgenbanking.co.ukVisit http://info.nice.comVisit www.vasco.com

Top topics

Most viewed Most shared
Augmentum Fintech raises £94m in IPOAugmentum Fintech raises £94m in IPO
11776 views comments | 25 tweets | 5 linkedin
Indian fintech sector needs regulatory support to flourishIndian fintech sector needs regulatory sup...
6813 views comments | 8 tweets | 7 linkedin
BIS warns central banks on digital currency issuanceBIS warns central banks on digital currenc...
6467 views comments | 18 tweets | 17 linkedin
Capital One virtual assistant can now issue virtual card numbersCapital One virtual assistant can now issu...
6225 views comments | 12 tweets | 11 linkedin
Starling and TrueLayer integrate for open bankingStarling and TrueLayer integrate for open...
6149 views comments | 13 tweets | 9 linkedin

Featured job

Singapore (or Hong Kong)

Find your next job