Florida has almost fully adopted CanPay, a payment network for cannabis merchants and consumers. The platform is now accepted at 95% of the state's medical marijuana treatment centers and nearly 100% of Florida's medical cannabis patients can use CanPay to pay for their cannabis purchases.
CanPay provides an app that allows consumers to pay for purchases at cannabis retailers with debit from their checking account using the Automated Clearing House (ACH) network. Merchants with a compliant bank account at a CanPay-approved financial institution may join the CanPay network.
"We're thrilled to be able to offer all of Florida's cannabis consumers fast, free and safer-than-cash transactions with CanPay," said Dustin Eide, CEO of CanPay. "As one of the largest cannabis markets in the country, it's always been a priority for us to offer our service to its more than 700,000 Qualified Patients."
While recreational cannabis is not legal in Florida, medical marijuana can be purchased from licensed MMTCs by patients and caregivers that have an active Medical Marijuana Use Registry (MMUR) identification card.
Expansion in Florida comes at a time when CanPay is growing. The company has facilitated more than half a billion dollars in transparent transactions in states where cannabis is legal. CanPay is used at more than 800 participating merchant locations in 31 states in the U.S. and is accepted by 10 of the top 13 public-company, multi-state operators (MSOs).
