FastFunds Financial’s (FFFC) wholly-owned subsidiary Cannabis Angel, through its 49% owned subsidiary Cannabis Merchant Financial Solutions (CMFS) has entered into a deal to offer smart debit cards for the cannabis industry.
The smart card technology will enable retailers to load a custom card with a cash balance and thus reduce the amount of cash being carried to the store.
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Additionally, the smart card has multifaceted storage capabilities and can be used as a customer retention and incentive card.
Some of the other benefits of the smart card include unlimited cash load capability on the card, personalised card with the businesses name and logo, guaranteed return foot traffic to the merchant’s establishment, and multiple incentive and rewards capabilities with the card.
Throughout March and April 2014, the smart cards will undergo beta testing in Colorado and several other state retail locations.
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By GlobalData
