This is a first, but let’s stuff some thoughts into the pipe and smoke it, so to speak. This brief piece is in TheGrowthOp and discusses WayV, which is a 2017 L.A. startup with a B2B cannabis logistics and compliance platform that delivers inventory to cannabis retailers. The point of the piece is to discuss a B2B payments capability that provides an easy alternative to what is often cash exchanges.
The U.S. federal prohibition on cannabis, thanks to the Drug Enforcement Administration’s (DEA) classification of the drug as a Schedule I narcotic, means that cash is often the only way to pay at many U.S. pot shops, since credit card companies and financial institutions tend to steer clear of working with anything cannabis-related.
Read more here: https://www.paymentsjournal.com/b2b-amazon-like-platform-aims-to-change-payments-in-cannabis-industry/