Payments are a problem across the board at dispensaries — not just in front end transactions. That is the most obvious problem. Dispensaries have “solved” this by putting ATMs in their locations insofar as customers have an easy way to gain access to the only payment method that is universally open to dispensaries: cash.
Cash-to-digital is not new to PayPal, who began pushing that product last year to make it possible for cardless users to load cash into a PayPal account in a 7-Eleven, for example, and to begin spending online almost anywhere.
While payments innovations may create buzz in the U.S. market, cash remains decidedly low-tech and top of the payments heap. According to PYMNTS research, cash usage in the U.S. has been on a stable course the past few years, hovering between 14 and 15 percent of GDP since 2003.
According to research revealed inside the new PYMNTS.com Global Cash Index™ United States Analysis, while there may be a recent onslaught of payment cards, digital wallets and contactless payments, nothing has come close to replacing cash in the U.S.
Amazon is open for business for cash-only customers — via 10,000 physical locations where a consumer can deposit cash directly into their Amazon balance.
Mobile payments might be all the rage in Europe, but they are seemingly far from replacing good old cash. In fact, when it comes to picking a payment method, most European consumers pick cash even over credit and debit cards.
Cardtronics announced that two of its indirect, wholly-owned subsidiaries, Cardtronics, Inc. and Cardtronics USA, Inc., intend to offer $300 million in aggregate principal amount of senior notes due 2025 for sale to eligible purchasers in a private offering.