KIND Financial Partners With Canadian Bank To Deliver ‘Seed To Payment’ Solution

CALIFORNIA: KIND Financial, a leading provider of end-to-end technology and compliance solutions for the cannabis industry, has announced KIND Seed to Payment, billed as “the first complete seed to payment solution,” is now available throughout Canada for all licensed producers, related businesses and the government. KIND Financial’s compliance software now has a fully integrated e-commerce gateway that enables users to complete the entire cannabis business lifecycle from seed to payment, an industry first. The combined offering – with KIND’s RegTech platform at the core – represents a major advance in giving Canadian licensees the infrastructure they need to ensure full compliance while greatly expanding all business initiatives.

“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,” said David Dinenberg, founder and CEO of KIND Financial. “We understand compliance will be a critical issue for some time to come, but with our solution, all providers and their partners can focus on the job at hand while keeping in line with regulatory mandates.”

The barrier to entry for growers, sellers and financial services institutions alike to establish bank accounts, pay taxes and accept credit card payments remains high. KIND Seed to Payment takes this critical problem head-on with a comprehensive e-commerce platform that has regulatory and security features built in, including age and identity verification to ensure full compliance. For the Canadian market overall, where all legal cannabis transactions are conducted online, this is a game-changer. In addition, KIND Seed to Payment’s sophisticated features are designed to work with multiple languages and foreign currencies, including the euro and Australian dollar, making it possible for any Canadian licensee to explore and expand into international trade without having to worry about security and foreign regulations.

“We’ve been very focused on a global vision and taking a strategic approach towards solving the cannabis industry’s largest problem – banking. Not only have we built a broad portfolio of finance and compliance solutions with a high-level of technical sophistication, but we’ve made a strong commitment to security and compliance, which is evident through our partnership with Microsoft. We’re excited to be working in a new country to boost the Canadian cannabis industry in a safe and regulated manner, and we look forward to expanding into other markets overseas,” said Dinenberg.

Big NY Banks Tell Licensed Medical Marijuana Firms To Take a Hike

NEW YORK: Some of the major federally regulated banks in New York have no plans to do business with the medical marijuana companies that were awarded licenses to grow and distribute the drug.

That means the banks will not accept deposits from the companies and will not allow bank-issued debit cards to be used to purchase the drug.

“While the use of medical marijuana is legal under applicable state laws in some states, the manufacture, distribution, and use of marijuana is still illegal under federal law,” a spokesman for Wells Fargo said. “Our policy of not banking marijuana-related businesses is based on applicable federal laws.”