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CanPay has surpassed half a billion dollars in transparent transactions in states where cannabis is legal.
CanPay, which provides an easy-to-use app that allows consumers to pay for purchases at cannabis retailers with a simple debit from their checking account, is now used at more than 800 participating merchant locations in 31 states in the U.S.
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Moreover, it is accepted by 10 of the top 13 public-company, multi-state operators (MSOs).
"Surpassing $500 million in regulated cannabis purchases is a significant milestone for the CanPay network," Dustin Eide, CEO of CanPay, said. "Not only does this validate the desire for transparent, low cost, simple payments in the cannabis industry, it also speaks to the strength of the CanPay community. We started in 2016 with just three shops in the Denver area and a handful of consumers. Now, the CanPay community includes more than 800 dispensaries across the country and over 100,000 consumers."
CanPay recently released an enhanced app that allows most users to quickly and securely sign up with instant activation.
The app's proprietary Purchase Power tool creates custom spending limits, with a maximum daily customer spending limit of $3,000.
A key enhancement for consumers in the new app is the introduction of CanPay's Direct Link banking tool, through which consumers can easily, automatically link their bank accounts to the CanPay app.
Photo: Courtesy of Blake Wisz on Unsplash
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.