Hawaii took a wonderful step of turnings its medical marijuana program cashless. This is a great idea of resolving the problem that other states and business have faced in dealing heavy chunks of cash. So, from next week all those who want to fetch the medical benefits of marijuana need not required to pay in cash. Now, you can pay for your weed through a simple app.
What Governor David Ige Says about this Drastic Move?
Seeing the various medical benefits of marijuana, Hawaii legalized this weed in 2000. But, this month they took an impactful step by making buying marijuana cashless. So, the conference held regarding it Governor opens up his heart about this decision.
Gov. Ige stated, “This new cashless system enables the state to focus on the patient, public, and product safety while we allow commerce to take place.” And, even added “This solution makes sense. It makes dispensary finances transparent and it makes it easier and safer for dispensaries to serve their patients and pay their employees and vendors.”
Along with the state Financial Institutions Commissioner Iris Ikeda and Governor, announced the plan titled as “banking solution”. Although, some are thinking that putting the Hawaii medical marijuana companies’ eggs all in one basket could soon lead to a financial crunch.
Leaving all these speculations behind, the plan is moving ahead and kicking off on Oct. 1.
What Banks and Card Companies Think about Cashless Step
After observing that banking has been a quite daunting task for medical marijuana companies in the state, this step will be making things simpler and easy for these. However, major banks decline to work with these businesses because marijuana is still federally illegal.
The protagnistic credit card companies have also shown their back to the customers wanting to make an online transaction with their bank cards. This is causing a lot of inconvenience for the customers and compelling them pay in cash at dispensaries.
No doubt, Kerry Komatsubara, Executive Director of the Hawaiian Educational Association for Therapeutic Healthcare comes in support of this step to make marijuana cashless. She says, “The arrival of banking and payment services for the cannabis industry in Hawaii will enable dispensaries to reduce or eliminate cash sales, which will help keep these businesses much more secure.” She even says, “The cash-only precedent in this industry is less than ideal for customers, employees, and the general community, so having alternative options available really does change how we do business for the better.”
CanPay – Helping Medical Marijuana Companies to Manage Cash-only Transactions
CanPay is a debit app, which is providing an alternative to cash-only transactions. The app is collaborating with Safe Harbor Private Banking, which is a Denver-based division of partner, specializes in working with marijuana companies.
The cashless system is not obligatory until now for customers, but the state is pushing hard to get everything in line. Indeed, Ikeda comes up a rock solid plan to sell prepaid cards at the dispensaries for masses without checking the account.
Hawaii is quick to render cashless medical benefits of marijuana, despite being slow to roll out this weed. It will be interesting to see how Hawaiian government will give this cashless plan the right direction.