RocketFuel (RKFL.OTC) will be making their crypto enabled payment solution available for licensed cannabis dispensaries and merchants, according to a press release.
Adding RocketFuel into the usual checkout procedures will give the option to pay with crypto, as long as they keep crypto in a private wallet or in certain exchange accounts. The service even extends to online delivery orders if they’re fine under local regulations.
“RocketFuel’s payment solutions are a game-changer for the cannabis industry which has long been denied access to traditional banking facilities like opening businesses accounts and having access to credit/debit card facilities. The growth of cryptocurrencies however has levelled the playing field for the industry and has given the control of transactions to merchants who no longer have to depend on banks for handling their financial transactions,” said Peter Jensen, CEO of RocketFuel.
RocketFuel is a global payments solution provider that gives online shoppers a one-click checkout process that accepts payments with Bitcoin and over 50 altcoins. They’re secure and offer low fees for merchants, along with no chargebacks or card declines.
Now that RocketFuel’s got a one-click payment interface, shoppers don’t have to create cannabis-specific debit cards or pay in cash in shops. Instead, cannabis purchases in licensed dispensaries can be done via phone using the RocketFuel API. This will help merchants take online crypto payments and pick up some extra revenue channels while paying low transaction fees on a secure interface.
At some point in time there’s a strong probability that crypto and cannabis will meet each other on the road to national acceptance and full regulation in the United States, but that time isn’t right now. Due to laws at the Federal level restricting banks within cannabis sector, merchants and businesses have had to go to some interesting lengths to get payment solutions for their customers.