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Marijuana Fintech Seeks to Disrupt Cashless ATMs: The Dose

April 4, 2022, 11:00 AM

Welcome to my weekly newsletter about cannabis and psychedelics. A fascinating aspect of new industries is how they spawn their own business innovations. This week, I take a look at what’s going on in cannabis fintech.

Pot companies have new payment options

Many companies would love to be the Venmo or PayPal of cannabis. But there’s a long way to go.

Cash is still the go-to option in the U.S. since marijuana is federally illegal. Tepid progress toward legislation shows that is unlikely to change anytime soon. At the same time, the most popular payment alternative, so-called cashless ATMs, are problematic. They disguise as much as $7 ...