Payments

Cannabis payments platform CanPay expands to 1K locations

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January 20, 2023

CanPay, a payments network for cannabis merchants, is now available at more than 1,000 locations in 31 states. With its app, customers can purchase cannabis products from their checking account using the Automated Clearing House network, according to a press release.

Retailers can join the CanPay network with a compliant bank account. The solution uses a Purchase Power, which can create custom spending limits up to $5,000 per day.

"As more states come online in 2023 with legal recreational and medicinal sales — and as more and more financial institutions are choosing to bank the cannabis industry — we're excited to be able to serve even more consumers with fast, free, safe transactions. We're especially proud to be available at more than 1,000 shops nationally, after starting with just three in the Denver area almost seven years ago," Dustin Eide, CEO of CanPay, said in the release. "Transparent, simple, low-cost payments are a must in the cannabis industry, and our continued adoption speaks to the strengths of our solution."