Buyer beware: purchasing legal Canadian weed on your credit card could get you banned from the United States for life. And while it's easy enough to suggest people just stick to cash transactions when buying marijuana in Canada, hitting the ATM every time you want to visit the dispensary can become a huge hassle. That's where alternative payment services like GreenGreen want to step in.
"Basically we are an app-based credit card," GreenGreen founder and CEO Kam Nemec told Edmonton Journal. "We let you buy things you want in-store and then pay for it at the end of the month, just like Amex, Visa, MasterCard. And in this specific industry we're targeting cannabis. So we let you put cannabis on a tab and pay it at the end of the month instead of paying Visa or Master Card."
This is good news for people who don't like to carry cash, or just find paying by card more convenient but don't want to risk having the purchase on their statement. GreenGreen doesn't offer any mean for people to make purchases online however, so consumers in provinces like Ontario, who don't have any legal brick-and-mortar options for buying cannabis, are still stuck using their credit cards for the time being.
GreenGreen's new app also means that US-based business can begin offering cashless payment options to their patrons.
"In the United States you can't pay for cannabis with a credit card, period," says Nemec. "And in Canada it opens up a lot of privacy issues because all of your information is stored in the United States on US servers. And the privacy commissioner has warned that Canadians who purchase cannabis legally in Canada could be barred from traveling to the United States because their Visa information would state that they purchased cannabis in Canada."
So, if you're at all concerned about US Border agents snooping on your credit card statement, this may be the app for you.