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Alt Thirty Six’s New Payment Platform Aims To Solve A Huge Cash And Card Problem In The Weed Industry

Alt Thirty Six’s New Payment Platform Aims To Solve A Huge Cash And Card Problem In The Weed Industry

The company created a user-friendly (and compliant) solution to the cannabis industry’s reliance on cash and deceptive use of debit and credit cards.

November
27, 2019

7 min read

Opinions expressed by Entrepreneur contributors are their own.

As anyone who has bought legal marijuana at a dispensary knows, the payment system is always a little bit confusing. Is it cash only? Do they accept credit and debit card? It’s complicated — and doesn’t always make for the most seamless transaction.

Since cannabis is not federally legalized, many dispensaries’ access to card processing options are hindered. This means consumers are scrambling trying to figure out the proper way to pay for products. While some do allow plastic credit and debit cards, many are still a cash only business. Thankfully, there’s a new user-friendly (and compliant) solution to this problem.

Enter Alt Thirty Six, a digital payments platform that is tackling the cannabis industry’s current reliance on cash only and deceptive use of debit and credit cards issue. Thanks to their proprietary technology and established banking relationships, Alt Thirty Six allows cannabis merchants to seamlessly process electronic payments in-store and online. Simultaneously, transaction records are stored on a Dash blockchain for record-keeping, which prevents money laundering and other financial-related crimes.

To help understand the innovative payment technology, we caught up with the company executives to dive headfirst into the idea behind the platform, and what Alt Thirty Six has learned in its entrepreneurial journey.

2019-11-28 00:30:00

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