Vank app now available for cannabis dispensary payments – newsismybusiness.com

To ensure compliance, the company has established an alliance with Safe Harbor Financial.

Cannabis dispensaries across Puerto Rico have recently adopted Vank, the first locally developed mobile payment solution specifically designed for this industry.

The app direct debits and complies with local and federal regulatory frameworks at a time when the federal government is considering reclassifying medical cannabis as a less dangerous drug.

“This technological solution represents a significant advancement for cannabis dispensary owners as it allows them to optimize their operations and increase customer retention. It also provides a safer environment by reducing cash handling and storage,” said Ismael Stella, Vank’s business development manager. “For patients, it offers the convenience and flexibility they seek daily, as well as being easy to use and compliant with the highest banking security standards.”

The adoption of the technology by multiple cannabis dispensaries in Puerto Rico coincides with federal agencies such as the U.S. Department of Health and Human Services, the Food and Drug Administration, and the Department of Justice evaluating the reclassification of medical cannabis as a less dangerous and less regulated drug, at the request of President Joe Biden.

“This reclassification would acknowledge its medical uses and lower potential for abuse

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