KIND Financial has rolled out the cannabis industry’s first-ever “seed-to-payment” system in Canada, which will allow users to track the complete lifecycle of a plant from seed to payment, including granting users access to bank accounts and credit card processing. The e-commerce platform also allows companies to explore international trade options without worrying about foreign relations and security and is designed to work with multiple currencies and languages.
David Dinenberg, KIND Financial CEO, said that as the cannabis industry grows, compliance is emerging as a “critical issue” but banking is the “largest problem.”
“Our mission is to ensure business and technological growth for all constituencies within the cannabis industry while ensuring full compliance with evolving regulations, and that’s why we’re thrilled to make these services available to our great neighbors in the north,” Dinenberg said in a press release, adding that the company partnered with Microsoft on its data-protecting efforts.
Currently, the software is currently only available to licensed producers in Canada, but the firm expects to roll it out in other cannabis-legal nations “shortly.” The firm is also actively working on a mobile payment system, called Kind Pay, with is expected to launch before the end of the year.