Local business creates new credit service for cannabis purchasers
Edmonton start-up GreenGreen has created a new app that will help users purchase cannabis on credit.
“Basically we are an app-based credit card,” says GreenGreen founder and CEO Kam Nemec. “We let you buy things you want in-store and then pay for it at the end of the month, just like Amex, Visa, MasterCard. And In this specific industry we’re targeting cannabis. So we let you put cannabis on a tab and pay (for) it at the end of the month instead of paying Visa or Master Card.”
Nemec says GreenGreen not only offers its users purchase privacy, but in the case of U.S. users it provides a service that traditional credit cards are unable to.
“In the United States you can’t pay for cannabis with a credit card, period,” says Nemec. “And in Canada it opens up a lot of privacy issues because all of your information is stored in the United States on U.S. servers. And the privacy commissioner has warned that Canadians who purchase cannabis legally in Canada could be barred from traveling to the United States because their Visa information would state that they purchased cannabis in Canada.”
GreenGreen can be found at greengreen.io