Cal-Bay International has signed an agreement with a US merchant account processing firm for the development and production of a pre-paid gift card & loyalty program, CB Green Card, for legally licensed marijuana dispensaries.

This system allows processing of the "CB Green Card" through the dispensary CB terminal leveraging a similar type of platform used for leading credit & gift card processing networks.

Due to the unsure legalities attached to the sale of Marijuana products, the majority of legal dispensaries across the licensed states within the US are denied the ability to process regular cards, thereby limiting the purchase of the products to a "cash-only" operation.

To avoid these legal and financial tangles, Cal-Bay reached at a letter of Intent with an established US Merchant Processing company for the creation and production of the CB Green Card.

The pre-paid gift and loyalty program charge card will be established using a closed loop network, which is intended for use with Legal Dispensaries by way of an exclusive Cal-Bay Financial Services processing terminal which will allow a seamless transaction for the customer’s purchase.

Additionally, it will create a full report for the dispensary and transfer of funds from the sales to their US banking institution, in addition to showing a full sales reporting operation to the tax collectors and at the same time legally processing the funds to the dispensary’s bank.

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.

Company Profile – free sample

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 GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Cal-Bay CEO Robert Thompson said this solution offers a multitude of mutual benefits including increased sales for the dispensaries, less cash on hand for security reasons, accountability for taxation, legalized bank deposits and Loyalty Program Rewards for the consumers, by issuing "CB Green Cards" for each state use.