Cash, Coronavirus, & Cannabis: It's Time to Digitalize the Cannabis Industry
by Alt Thirty Six / Mar 18, 2020 9:47:35 AM
With the whirlwind of Coronavirus all around us, it makes sense that most conferences, events, social gatherings, etc. have been canceled and are instead taking a digital approach to preventing further spread.
Coronavirus spreads through droplets when they are released into the air (ex: sneezing) or coming in contact with an infected surface. It is extremely important that we are all taking the proper precautionary measures such as washing hands, covering our mouths when coughing/sneezing, etc. to keep ourselves and others safe.
But what about tangible items we come into contact with on a daily basis? Take cash, for example, cash reportedly carries more germs than the average household toilet. Cash is a hospitable environment for bacteria and viruses. In fact, a live flu virus can be transported on cash for up to 17 days. Have you ever thought about how many people have touched the dollar bill you’re holding before you? The answer is 14,000 people per every one-dollar bill.
The World Health Organization has reportedly urged people to use as many digital payment options as possible in the wake of the Coronavirus to prevent spread and any potential future outbreaks. But is it possible to fully digitalize this aspect of our daily lives?
The answer is yes, other industries began going cashless & even cardless before the outbreak of Coronavirus. Many retailers began accepting apple pay, paying via Venmo, etc. However, under the Controlled Substances Act (CSA), Cannabis is a Schedule I controlled substance and is illegal on the federal level. Although Cannabis has been legalized in 39 states and DC (including medical use, recreational use and both), many major digital payment solutions refuse to provide payment services to the Cannabis industry due to the heavy compliance responsibilities.
Therefore Alt Thirty Six is the digital payment solution for the cannabis industry; “Venmo for cannabis” as some would say. Alt Thirty Six’s digital payment solution is the only legal and fully compliant digital solution in the cannabis industry to date. There is absolutely no hardware involved which means no touching surfaces that could potentially be contaminated with harmful bacteria and viruses.
And as social distancing becomes more popular, so do delivery services. Cannabis delivery is a great way to practice social distancing while still receiving your usual product. Without Alt Thirty Six cannabis deliveries are 100% cash-based, meaning the delivery driver, customer, merchant, and others could all be exposed to infected cash. Thankfully Alt Thirty Six eliminates cash completely in all cannabis-related deliveries/purchases. Click To Tweet
Now through April 20, 2020, Alt Thirty Six will be temporarily waiving all transaction fees for merchants on delivery transactions for new and existing clients. Additionally, Alt Thirty Six has increased internal resources to expedite the underwriting and approval process for merchants to begin accepting Alt Thirty Six payments within 24 hours.
Alt Thirty Six understands the impact that Coronavirus will impose on cannabis businesses nationwide. Alt Thirty Six is committed to offering cannabis businesses a digital and fully compliant alternative to cash. Alt Thirty Six believes we all can play a part in promoting healthy behaviors. Remember cashless, not careless. Stay vigilant, stay informed, be safe, and be well. Click here to read CEO, Ken Ramirez's official statement to the cannabis industry regarding COVID-19 (coronavirus).
(Zero Fees promotion on delivery transactions expired after 4.20.20)
Click below to sign up and register online to start accepting cashless payments!
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