App allows consumers to purchase cannabis products at the touch of a screen
PayQwick, LLC, the first federally compliant, cash-free way to pay for marijuana, today announced the release of its iPhone app. The PayQwick app allows consumers to purchase marijuana and other marijuana products via their iPhones at participating PayQwick retailers. The Android version of the app will be available in the Google Play Store in the coming weeks.
“Our primary goals when we launched PayQwick were to make purchases easier for consumers and to create safer selling environments for retailers and growers,” said Kenneth Berke, CEO of PayQwick. “The new app offers another solution for consumers and retailers alike.”
With the app, consumers can avoid the time and fees involved with an ATM transaction. The PayQwick app also removes one of the biggest safety risks faced by retailers and growers: cash. The app is connected to each consumer’s PayQwick account which allows them to deposit money directly from a verified bank or credit union account. Consumers can instantly transfer up to $60 to their PayQwick account to use for immediate purchases. Larger transfers can take up to two business days.
The app’s passcode lock feature offers consumers an additional layer of security even if their iPhone is lost or stolen. As an added bonus, consumers can earn Rewards QwickerTM points each time they make a purchase. Points can be redeemed for various merchandise or gift cards.
PayQwick has welcomed more than 1,100 consumer users and nearly 200 marijuana retailers, producers and processors since October 2015. The company expects adoption of the PayQwick platform to grow exponentially with the launch of the new app.
PayQwick is currently licensed to operate in Oregon and Washington. Plans to extend into Colorado are currently underway. One of the key components of its business model is state and federal compliance throughout the marijuana supply chain.
Story source: KLTV7