Cashless for Cannabis?
Cash and cannabis have long gone hand in hand. The federal government, with its insistence that marijuana is a schedule one controlled substance, makes federally insured banks and credit cards nervous about dealing with cannabis companies. But, Hawaii is looking to change that. By October 1, buyers at Hawaii’s dispensaries have the option to pay with a debit payment app called CanPay instead of using paper bills and coins. CanPay is also available at many mainland dispensaries including Harborside in California.
According to the Washington Post,
All of Hawaii’s eight licensed dispensaries have agreed to go cashless by Oct. 1, the governor’s office said. The dispensaries will ask patients to use a debit payment app to buy their pot instead of cash. The app is already an option for marijuana transactions in six states, including California and Colorado.
Iris Ikeda, the state’s financial institutions commissioner, told reporters at a news conference that state officials haven’t discussed whether people wanting to pay in cash will be turned away from dispensaries.