CanPay Now Accepted at More than
1,100 Merchant Locations
LITTLETON, Colo. ,
April 18,
2024 /PRNewswire/ -- CanPay, the largest
legitimate payment network for cannabis retailers and consumers,
has facilitated more than $1 billion
in consumer purchases at state legal dispensaries. Used by more
than 300,000 consumers nationwide, CanPay now serves as the
preferred payment platform for approximately 1,100 participating
dispensaries.
CanPay's easy-to-use mobile app allows consumers to pay cannabis
retailers with a simple debit from their checking account using the
Automated Clearing House (ACH) network. Merchants with a compliant
bank account at a CanPay-approved financial institution may join
the CanPay network quickly and easily.
Customers can also prepay for their cannabis purchases when
ordering online or through the app while using CanPay's RemotePay,
an advanced ecommerce capability bringing merchants one step closer
to a traditional retail experience.
"This milestone validates that merchants and consumers don't
need to rely on workarounds for cannabis payments. The CanPay model
works, and it's the solution the industry needs. At the same time,
we are also proving that there's room for something different,
something better than traditional card methods for retail," said
Dustin Eide, CEO of CanPay.
In addition to RemotePay, CanPay recently added new bank linking
capabilities to its payments platform, enabling a faster, more
secure activation process that covers all banking institutions in
the U.S. Now when customers sign up through the app, they can
easily link their financial institution to CanPay, enjoy instant
activation and pay immediately for products.
"As the cannabis industry continues to rapidly grow, we are
eager to continue to meet the needs of the cannabis industry
through transparent, simple, low-cost payment solutions for
merchants and a rewarding, free, easy-to-use experience for
consumers. In fact, we have projects in the works that will make
the next billion and beyond even better for merchants and
consumers," said Eide.
Last year, CanPay launched a first-of-its-kind rewards program
for consumers to enjoy daily and after-purchase opportunities to
win CanPay Points, which can be used to discount future purchases
at any participating retailer. CanPay has awarded over $500,000 in CanPay Points to consumers to
date.
CanPay is accepted by 10 of the top 13 public company,
multi-state operators (MSOs). The app's proprietary Purchase Power
tool creates custom spending limits, with a maximum daily customer
spending limit of $5,000. That's the highest advertised
spending limit in the cannabis industry – and significantly higher
than the amount of cash that a customer can withdraw from an ATM at
one time.
About CanPay
CanPay offers a payment solution
for the state regulated cannabis industry and other emerging
markets. CanPay started with one goal – to bring traditional
and legitimate electronic payment solutions to highly-regulated
industries. We've spent years learning about the unique challenges
that face consumers and retailers in these industries and used that
experience to design CanPay as the stable payment solution they can
rely on. With over 30 years of industry experience, the CanPay team
of payments professionals is building a proprietary network of
consumers, retailers, financial institutions, and specialized
technology providers that make payments at regulated businesses
just like payments everywhere else. For more information,
visit https://www.canpaydebit.com.
Media contact:
Alison Day
alison.day@allisonworldwide.com
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SOURCE CanPay