MTrac Tech, a unit of Global Payout, has launched a mobile payment solution for the Cannabis/CBD delivery sector.
This will offer a secure alternative mode of payment to a market that poses high risk.
Go deeper with GlobalData
The company noted that the delivery drivers in this market usually have to carry large amounts of cash. This is because of an absence of conventional merchant processing systems.
This in turn, leads to various problems such as theft or loss owing to mishandling.
Commenting on the new offering, MTrac CCO Jason LeBlanc said: “The cannabis delivery market is massive, but it also represents an untapped demographic with unlimited potential for growth.
“Safety and security are always at the forefront of everything we do, and providing our solutions to delivery services achieves this for our clients and the community at large.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe new solution processes payments on cellular-powered mobile terminals to enable digital payments at the point of delivery.
Security concerns are addressed due to the integration of the MTrac delivery units to the blockchain.
According to the firm, the blockchain integration implies that “transactions are processed with the same level of security and are recorded on the immutable ledger in the same manner as retail brick and mortar systems”.
