WeedWeek business columnist Dan Mitchell looks at a new program, from Oakland software company Treez, that could solve many pot shops’ payment woes.
Mitchell writes:
Dispensaries have tried all kinds of workarounds, from rotating through merchant credit-card accounts until the banks pull the plug, to installing an ATM out front. Some hook up with payments companies that specialize in cannabis, but most of those are full of friction; for starters, each customer typically has to sign up with the same company, and the process can be burdensome. On top of that, most of those companies use “digital wallets,” which customers have to refill.
Treez…thinks it has solved the problem with its new product, Treez Pay. Unlike most payment services, Treez Pay doesn’t make use of a digital wallet. There’s not even an app to download.
