The evolution of the cannabis industry has been evident in the last decade. Partly, the legalization of federally illegalized Cannabis consumption has played a significant role in this transformation. The technological advancements have been the main game-changer in an era marred by the deadly coronavirus pandemic, among other challenges.
One of these developments has been championed by Kind Financial; a leading regulatory technology company focused on improving business operations for the global cannabis and hemp industries. This financial solution platform has been dedicated to establishing and growing businesses in the emerging legalized cannabis industry.
Cash-free, Touchless Payments With KindPay
The launch of KindPay was ground-breaking since before then, merchants were not able to accept cash-free payments. Consumers who paid for cannabis paid with cash only.
KindPay is powered by Herring Bank, which allows a closed-loop payment system for cash-free mobile payments to approved merchants.
The question then becomes, how does it function? Using a credit or debit card, a consumer can fund their KindPay wallet account, allowing them to use those funds as an ACH payment when made to a cannabis business. This is important for those who don’t know because KindPay is accepted at participating retailers across the nation.
The KindPay app is available on the Apple App Store or Google Play store at no cost. The good news is that the company also offers devices for merchants to process transactions.
Why Choose KindPay? KindPay offers very unique possibilities… possibilities that weren’t available before. The platform is easy to use, and you can scan your ID and add your card and pay in-store with virtually no obstacles. It is a contactless transaction, which in this day and age is a safer way to pay.
The KindPay app is different and unique from other apps. Why? Because you can use this app to deposit with credit cards in the marketplace. This app is not like those that are fundamentally debit. With debit, you can only sp
Fixing Financial Problems
Future cannabis businesses will need capital and financial products to remain sustainable and competitive to grow. Therefore, to fill the demand projected by the industry, there is a need to fix the current economic problems. Future businesses will require small business loans, credit lines, payment solutions, and limited investors to support growth and new start-up ventures.
David Dinenberg founded Kind Financial in 2014. He aimed to make loans and provide other services to Cannabis growers, and seller-customers banks were afraid to work with. If that was not enough, Kind Financial is helping navigate bureaucracy, specifically the regulations and red tape that come with legalization. Government agencies can now track pot production and sales with ease.
Today Kind Financial is passionate about the Cannabis industry. As a result, it is providing financial solutions for its future generations with ease. This success is happening due to a dedicated and passionate team of professionals and consultants who have a deep knowledge of the cannabis industry coupled with relationships with leading investment companies, financial institutions, and angel investors worldwide.
For more information on how this new cannabis technology works, you can connect to David here. end what you have. However, with KindPay, you can use credit, which brings more purchases to the business and allows more consumers to purchase. Data pulled from KindPay shows that the simple use of using credit increases the shopping cart to between 45 to 65%.