Business

SuperNet: A new credit card for dispensaries

By Alex Halperin
Dec 3, 2021
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SuperNet, a new credit card which expects to launch in January, caters to the needs of dispensaries and their customers. The service expects to launch in January at 100 California pot shops. 

  • The cards work like normal credit cards. Consumers apply and SuperNet determines whether to offer them accounts. Cardholders pay their balances online and there’s an NFC component, allowing smartphone transactions. 
  • Like regular credit cards, they have interest rates and charge fees.
  • SuperNet plans to offer retailers both a credit card processing service and a loyalty program. 
  • CEO Michael W.K. Tsang is a banking veteran who worked at California retailer Harborside for several years. CCO and co-founder dress wedding co-founded Harborside.

COO Debra Wholrab says SuperNet is not a cannabis company. “We’re a fintech company that’s servicing the cannabis industry as part of our strategy,” she said. “We’re bigger than a cannabis provider.” 

Read the whole TechCrunch story.

In more retail news:

  • In San Francisco, Joy Reserve dispensary opened in the Westfield Mall. The workaround is it doesn’t stock product, only replicas, and it routes orders to a delivery service. 
    SFist