#Plebchain #Plebs Good Insight!!!!
The cannabis industry has notoriously gotten the short end of the stick in that regard since it first became a legal business at the state level in the United States. Major banks will not allow cannabis businesses to hold accounts with them, most payment processors will not offer services to them, they are either forced to deal with cash only or very high priced payment processors that still might cut them off at a moment’s notice.
Strainly is a company that has serviced this industry since 2016, providing seeds of cannabis strains, growing equipment, plant clones, pollen for breeding, and other services. All of these products by the way are legal at even a federal level in the United States, but companies offering these products are still subject to financial exclusion.
As a result of this, Strainly has pioneered the use of BTCPay Server as a payment processing solution for vendors in this industry. After a lengthy period of use for their own services, they have decided to open up their integration to facilitate a peer-to-peer marketplace amongst their own users. Leveraging BTCPay Server on the backend, they are able to provide vendors with a server to register their own non-custodial wallets for payment processing and open up the use of Bitcoin as a payment mechanism for other participants in the legal cannabis industry. BTCPay’s pull payment system even supports frictionless refund functionality for vendors and customers, while simultaneously protecting vendors from chargebacks inherent in the legacy financial system. It also facilitates payments between customers and vendors in a way that does not expose either side’s private financial information to the other party.
Aaron
npub1hc…v2sdl
2023-12-20 14:59:41
Author Public Key
npub1hczrt546la7yfh8scw8l2w3xwg8jw2txq9q6tk7qm0xzt5xvvxwscv2sdlPublished at
2023-12-20 14:59:41Event JSON
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"content": "#Plebchain #Plebs Good Insight!!!!\nThe cannabis industry has notoriously gotten the short end of the stick in that regard since it first became a legal business at the state level in the United States. Major banks will not allow cannabis businesses to hold accounts with them, most payment processors will not offer services to them, they are either forced to deal with cash only or very high priced payment processors that still might cut them off at a moment’s notice.\n\nStrainly is a company that has serviced this industry since 2016, providing seeds of cannabis strains, growing equipment, plant clones, pollen for breeding, and other services. All of these products by the way are legal at even a federal level in the United States, but companies offering these products are still subject to financial exclusion.\n\nAs a result of this, Strainly has pioneered the use of BTCPay Server as a payment processing solution for vendors in this industry. After a lengthy period of use for their own services, they have decided to open up their integration to facilitate a peer-to-peer marketplace amongst their own users. Leveraging BTCPay Server on the backend, they are able to provide vendors with a server to register their own non-custodial wallets for payment processing and open up the use of Bitcoin as a payment mechanism for other participants in the legal cannabis industry. BTCPay’s pull payment system even supports frictionless refund functionality for vendors and customers, while simultaneously protecting vendors from chargebacks inherent in the legacy financial system. It also facilitates payments between customers and vendors in a way that does not expose either side’s private financial information to the other party.\n\n",
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