For today's week news we go to the great nation of Canada.
Ever since Canada legalized recreational weed, and actually even before they did, the United States federal government issued warnings about Canadians involved in the Cannabis industry coming to America. I think I even reported on the story where the border patrol warned that people who have (legal) cannabis purchases on their credit card history could be denied entry to the US permanently.
Well now, there is an app that is coming to the rescue!
The app is called GreenGreen.
"Basically we are an app-based credit card... We let you buy things you want in store and then pay for it at the end of the month, just like Amex, Visa, Mastercard. And in this specific industry were targeting cannabis. So we let you put cannabis on a tab and pay it at the end of the month instead of paying Visa or MasterCard," said CEO and founder of GreenGreen, Mr. Kam Nemec in an interview with the Edmonton Journal.
Because this app is not issued by a major credit card company or bank, and their servers are not in America, border patrol and United States immigration will not have access to information about what a person might be purchasing using GreenGreen.
One downside of the app however, is that it does not work for online purchases. It can only be used at brick-and-mortar locations.
"In the United States you can't pay for cannabis with a credit card, period... And in Canada it opens up a lot of privacy issues because all of your information is stored in the United States on us servers. And the privacy commissioner has warned that Canadians who purchased cannabis legal in Canada could be barred from traveling to the United States because their visa information would state that they purchased cannabis in Canada," Nemec continued.
But it looks like from now on, with the help of this new app, cannabis establishments in America could finally start offering cashless payment options to their customers!
In my opinion, this is a cool technological development for sure. I really hope people take notice and realize that such an option exists and that it catches on.
It would be amazing if this new invention opens the door to more "outside the box" type thinking when it comes to financial solutions cannabis. I feel like if a competitor or competitors tried to create similar apps and intern try to make each better than the competition, we might soon end up with something that works for everybody.
But either way, this sounds interesting and it looks like yet another small step forward and normalizing the way that cannapreneurs do business.
And that's what's up in Canada!
source: bit.ly/2Pv6jsZ
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