Medical marijuana delivery in Missouri is legal and convenient for patients, except for one major snag: state law requires delivery transactions to be prepaid BEFORE they can leave the dispensary. For an underbanked industry like cannabis, this presents a significant hurdle, but one that’s now been conquered by Abaca, the complete cannabis financial [...]
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Abaca started in 2017 as an idea on a whiteboard with a simple goal: to solve cannabis banking and normalize financial services for the cannabis industry. Recently, we surpassed a major milestone: $1 billion in compliant cannabis transactions processed. That’s a lot of happy patients, customers, operators and suppliers. As we reflect on [...]
In the cannabis and hemp industry there are only a few tried and true truths: First, cannabis is medicine. Second, legalization needs to happen. And third, April 20 is THE cannabis holiday. With the spring season budding and Willie Nelson's birthday on the horizon, 420 is the apex of what has come [...]
2020 … was a year that many would prefer to forget. But through it all, 2020 was a groundbreaking year for the cannabis industry. Despite the environment, cannabis thrived. When it comes to retail, by and large we were the lucky ones in 2020. There is a lot to reflect on. Here are [...]
Payment Processing Now Available Nationwide NORTH LITTLE ROCK, Arkansas (December 15, 2020) – Since he founded his business, Ryan Croy, co-founder of Honcho & Hoss, CBD for the Everyman, has gone through three credit card processors – not by his choice. “One pulled the plug on me over the weekend. One said [...]
We made it … almost. 2020 is heading into the holiday season and that means holiday shopping, starting with Green Wednesday on November 25. Green Wednesday, which occurs on the day before Thanksgiving, sees a 40% boost in sales according to Headset’s data. Green Wednesday isn’t just Fall’s 420 though. [...]
NORTH LITTLE ROCK, Arkansas (September 24, 2020) – The National Cannabis Industry Association (NCIA) named Dan Roda, CEO of cannabis financial technology firm Abaca, to its Hemp Committee. The mission of the committee is to promote, advocate and educate on the specific concerns and issues surrounding hemp. NCIA committees are an opportunity for [...]
Cannabis financial technology firm Abaca announces that Joshua Shannon is joining the team as a senior developer. Shannon joins Abaca from Lindsey Software Systems where he was a senior software engineer. “It’s our mission to deliver enterprise-class financial services to the entire cannabis industry,” said Abaca CEO Dan Roda. “Joshua’s deep experience in developing banking [...]
Surprising findings in an Abaca cannabis retail payments study Conventional wisdom holds that the cannabis industry is unbanked – that it’s nigh impossible to get a bank account and other traditional financial services for cannabis operators. After all, the data show only about five percent of U.S. banks report any cannabis customers, [...]
Cannabis financial technology firm Abaca brings its full suite of financial services to the cannabis dispensaries, cultivators and product processors in Ohio, Montana and North Dakota. The company’s platform includes banking, merchant services and lending. “Our goal is to bring safe and compliant banking services to the cannabis industry,” says Abaca CEO Dan [...]