Hypur joins limited group of firms that offer payment solutions for marijuana transactions

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Hypur, an Arizona-based provider of payment solutions, said it will now offer its services to both consumers and marijuana-related businesses in states where the product is legal.

Payment-solution companies in the U.S. cannabis space are uncommon because of strict regulations at the federal level.

Hypur made a similar announcement regarding hemp payment solutions last week, at a time other banks and payment processors are stepping back from the cannabis space.

The technology will allow both consumers to purchase products from dispensaries using an app-based program linked to individual bank accounts while marijuana companies can process business-to-business payments.

CanPay, a Colorado-based provider, also allows consumers to use a mobile debit app to make purchases with no convenience fees.

Other providers include Linx, Zodaka and Zooyza, according to Nathaniel Gurien, CEO of New York-based cannabis financial consultants Fincann.


Categories: Cannabis Industry & Marijuana Business Briefs, Marijuana Dispensary & Cannabis Store News, Marijuana Sales, Funding & Banking News, United States Cannabis Industry & Marijuana Business News

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