KIND launches first closed-loop cannabis payment app

22. November 2020.

Los Angeles-based KIND Financial, a regulatory technology company has launched its mobile app, KindPay, powered by Herring Bank. The app is a closed-loop payment system that will give cannabis retailers and dispensaries access to commercial bank accounts. For merchants without the necessary processing device, KIND will provide it, according to a press release.

“The development and launch of KindPay has been long-awaited by the cannabis industry,” David Dinenberg, KIND Financial founder said in the release, “This new app will allow dispensaries, growers and consumers alike to transact transparently and safely. Also, due to the pandemic, contactless and cashless transactions have become safer ways to pay.”

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