Pay For Your Weed With New Mobile Cashless Payments App Available On Apple’s App Store And Google’s Play Store
Cannabis compliance-focused fintech company, Monarch Technologies is launching BFLI – a closed-loop mobile app solely for the cannabis industry, Benzinga exclusively learned. The cashless payments app, available on both Apple and Google Play stores, includes features designed to meet the security needs of cannabis license type holders, their vendors, and customers.
The Irvine, California-headquartered company said that BFLI is suitable not only for dispensary purchases but for any scenario where money needs to exchange hands within seconds in the cannabis industry.
The app launch news follows Monarch’s partnership with Desert Hot Springs to streamline cannabis compliance and tax collection. “The need to convert payments from a ‘cash is king’ mentality to an automated compliant digital system is inevitable,” Christian Fea, Monarch Technologies CEO & co-founder, told Benzinga’s Rolando Garcia at the time.
With BFLI, users can …