Hawaii will be the first state to generate a major push for cashless cannabis payments. In September, Gov. David Ige and state financial institutions commissioner Iris Ikeda said CanPay, with an agreement with Safe Harbor Private Banking, will process sales transactions at retail shops in the state.
CanPay, a debit payment service, delivers 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 apply to take part in the CanPay network and merchants having a bank account at one of those particular institutions can accept CanPay debit transactions from customers that have enrolled to get a CanPay debit account.
Still “near e-commerce” remains the norm in many areas, and it also still offers benefits over bricks-and-mortar such as online price comparisons, a wider selection, delivery and ordering online ahead for faster pickup in a dispensary, Brochstein says.
In California, Eaze, Meadow and GreenRUSH Delivery all in different ways connect dispensaries with consumers using the web. Getmeadow.com, as an example, is definitely 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 purchase weed online.
In 2016 Getmeadow launched Meadow Platform, an application-as-a-service platform for California dispensaries to provide cannabis retail sales and delivery. It includes 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 a marijuana technology company, connects cannabis product brands, dispensaries and doctors to customers through the web through its site and app.
To make use of the service, a consumer must register with her email and phone number and submit an image of her ID to verify her age. Eaze then texts her back once approved and she will order her goods for delivery, although she must pay when the product 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 well-liked by fans of the herb. In its 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 30 seconds. The report is founded on a survey 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 use within California on Jan. 1 .
“After Californians voted for adult [recreational] use within November 2016, many consumers shifted their mindset and became more available to using cannabis to improve their everyday lives,” says Jim Patterson, CEO of Eaze. “Americans have grown to be better educated concerning the wellness benefits available from cannabis. As prohibition ends and a new era of marijuana emerges in 2018, we’ll see increased awareness drive diverse product adoption among new groups of people and continue to change lives for the better.”
“When federal law changes, this will change the game entirely,” Canto says. “At that point, the distribution side of 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 details about their goods. Cannabis sellers can market their products online via marketplaces including MassRoots. The cannabis rfvtdy has greater than 1.5 million app downloads along with its website has tens of thousands of page views monthly, says a MassRoots spokeswoman. Consumers are able to see prices, find dispensaries near them, read reviews on different cannabis strains, and read which symptoms the plant aids, including lower back pain, nausea or epilepsy.
“If it were legal to promote cannabis on the internet and ship it, it might open up a complete new revenue channel and likely significantly accelerate our growth,” the MassRoots spokeswoman says.
As the National Cannabis Industry Association’s West is certain businesses want to sell products right to consumers online, the cannabis market is extremely regulated and a lot of the association’s clients are dedicated to other priorities. Those priorities include legalization, taxation easement, open banking access for proceeds-as currently there is not any law protecting financial service businesses that provide services to marijuana-related legitimate business and many cannabis sellers have trouble receiving and maintaining use of accounts-and clear digital marketing rules, she says.