Medical Cannabis Payment Solutions, a payment processor for the marijuana industry, has launched a payment processing system for state-sanctioned cannabis.
Dubbed Green, the new payment tool enables entities in the cannabis industry to electronically transact payments, while ensuring security.
Medical Cannabis Payment Solutions CEO Jeremy Roberts said: “What we’re launching is the very literal cure for the banking nightmare cannabis establishments face. This checks every box, from regulatory compliance, security, affordability, ease of use, integration—you name it, we’ve responded.
“Every time you want to buy something, Green will automatically retrieve all of your customers’ information and complete the transaction in a couple of clicks. And it has the highest level of security available anywhere,” Roberts added.
The system will initially be available at select retailers but the company is planning to roll out the system across all participants in state-sanctioned cannabis space in a few weeks.