Category Archives: Marijuana kiosk

Marijuana kiosk news Bitcoin to the rescue

A look at marijuana kiosk news and cannabismarijuana kiosk

  • Link From Bloomberg Bitcoin match made in heaven — Once a customer decides on which marijuana product to buy, an employee asks if he or she would like to use cash or digital currency, Lai said. If the buyer prefers the latter, the Trove employee explains that the customer can use a credit card to buy bitcoin through a POSaBIT kiosk, with a $2 transaction fee tacked on.The customer, who would now own bitcoin equal to the value of the purchase, can then redeem the currency in the store. Or the buyer can keep their bitcoin and use it anywhere else that accepts the currency. If the customer finishes the purchase in the store, POSaBIT, which pockets the transaction fee, then sends the value in U.S. dollars to Trove’s bank account.
  • Madison.com — However, as reported last week by Bloomberg Technology, a solution to the marijuana industry’s banking woes could very well be within reach. Within Washington State, digital cryptocurrency bitcoin is being used as an intermediary that’s allowing consumers with bank-issued debit and credit cards to legally purchase marijuana in dispensaries.
  • KRNV News –  Getting a medical marijuan card in Reno
  • Why The Cannabis Industry Will Soon Be Bigger Than The NFL

    Statistically, the cannabis industry is experiencing some of the highest growth in the world right now. Legislative efforts across the… [Read More]

  • PHOTOS: Nevada becomes 5th U.S. state to legalize cannabis sales

    Cheers and long lines of tourists and locals alike greeted the first day of sales of recreational marijuana on Saturday as Nevada became the fifth state with stores selling pot to the public in a market that is expected to outpace all others in the U.S. thanks to the millions of visitors who flock to Las Vegas each year.

  • Federal appeals court gives Colorado marijuana credit union another chance

    A federal appeals court has breathed life into a plan hatched in Colorado to open a credit union for the marijuana industry. A three-judge panel for the 10th U.S. Circuit Court of Appeals on Tuesday vacated a district court ruling that nixed Denver-based Fourth Corner Credit Union’s bid to receive a master account with the Federal Reserve Bank of Kansas City.

 




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Marijuana Kiosk & Cannabis

As marijuana legalization continues to spread, the marijuana kiosk is helping to simplify and secure the sales process.

By Richard Slawsky contributor

marijuana kioskJust two years into the state’s experiment in the legalization of marijuana for recreational use, Colorado businesses are on track see more than $1.3 billion in revenue from the sale of weed and related products. That’s a whopping 30 percent higher than the $1 billion those businesses took in last year.

Those results are similar to what’s being seen in Washington, the second state to go 420-friendly. Washington reached the $1 billion mark in July 2016, just 12 months after the first legal sale of recreational pot.

And that growth is sure to continue, especially as more and more states hop aboard the cannabis train.

But as with any business, a growing customer base brings with it an opportunity to serve those customers with technology. Cannabis and kiosks are proving to be a perfect match.

Growing like a weed

With the results of November’s election, the use of both recreational and medicinal marijuana has been entirely legalized in eight states, with medical marijuana legal in 28 states.

While the approach of the incoming administration in regards to legalized marijuana remains to be seen, it’s likely that the movement has passed the point of no return.

Still, there are some sticky issues associated with the sale of marijuana. First and foremost is that despite it being legal at the state level, federal law still considers marijuana to be a Schedule 1 drug, putting it on the same level with heroin, LSD and ecstasy.

Because federal law prohibits financial institutions from processing payments from the sale of a Schedule 1 drug, for the most part the cannabis industry is an all-cash affair. Credit and debit card transactions just aren’t allowed.

Unfortunately, conducting business on an all-cash basis is fraught with risk. First and foremost is that having large amounts of cash on the premises makes a marijuana business a prime target for a robbery.

In June 2016, for example, a security guard at a suburban Denver dispensary was shot and killed during a robbery attempt. The killing of the guard, former Marine Travis Mason, was the first known on-the-job death at a licensed marijuana business in Colorado.

The same month, a medical marijuana dispensary owner in the Los Angeles area survived a shootout with two would-be robbers wearing masks and armored vests. The owner escaped unharmed, although the robbers were wounded when the owner fired his own weapon.

In addition to the outside threat, dispensary owners also face the potential of internal theft. Despite the amount of money flowing into the pot industry, dispensary workers start at or near the minimum wage. Handling thousands of dollars a day while taking home $10-12 an hour is likely to prove to be an overwhelming temptation for some seeking to supplement their income.

And that’s where the kiosk industry can help.

Fresno, Calif.-based Cannabis Cash Solutions, for example, is providing cash-handling kiosks for marijuana dispensaries that eliminate the need for employees to handle money. In addition, the devices store the cash in a secure vault until pickup by a manager or an armored car service

“What we’re doing with the kiosks is taking the money straight from the customer’s hands and putting it right into the vaults in our kiosks,” said Cannabis Cash Solutions CEO Andrew Savala. “The marijuana business doesn’t touch the cash at all.”

With Cannabis Cash Solutions kiosks, customers come up to the dispensary counter and interact with the dispensary’s “budtender,” who explains the different product choices available. Once the customer has made their choice the budtender directs them to the counter-mounted kiosk, where they insert their cash payment into a bill acceptor and receive their change. The kiosk recycles the cash inserted for use as change, minimizing the need for replenishing the change fund.

“Customers are still able to have that one-one-one interaction with the budtender,” Savala said. “The budtender can still spend as much time with them as they need answering the customer’s questions, they just don’t handle the cash.”

automated cashier

 

[Video demo of automated cashier]

Malvern Pennsylvania-based Crane Payment Innovations provides the cash recyclers and coin dispensers in these kiosks.

Bassam CPI
Bassam Estaitieh Director of Business Development – Acquisitions CPI | Crane Payment Innovations

“It seems to be quite an up-and-coming market,” said Bassam Estaitieh, director of business development – acquisitions with CPI.

See related story on Crane, Olea Kiosks and KioWare.

[Editor note – A total of 3.6 million vending machines will be online by 2020. CPI is the leader. Reference.]

And Denver-based ordering and payment platform provider Jane LLC has deployed its kiosks in Oregon, Nevada and Colorado, with plans to expand to California, Alaska and several other states. With Jane’s kiosks, customers can make their choice from a list of products displayed on the device’s touchscreen and pay at the kiosk. The customer then takes the receipt to the pickup counter to receive their purchase.

“We have been received with open arms in some locations, where others shut the door, priding themselves on the theory of ‘one-on-one customer experience, that’s our specialty and we don’t want to lose that.’,” said Karla Guarino, VP of Marketing/Operations with Jane LLC. “Every state has different rules and regulations which all have to be worked through. It’s an ongoing process, but an exciting one!”

Jane also offers a mobile app for iOS and Android devices. With the app, customers place an order via their mobile device and enter their order number at the kiosks when they arrive at the dispensary. Those customers are also issued a receipt to be taken to the counter.

Jane’s devices also include EMV compliant card readers that are ready to accept transactions in anticipation of the eventual legalization of credit and debit card transactions for marijuana.

“We have been working very closely with our banking partner to ensure our processes are 100% compliant and ready to accept transactions at any time,” Guarino said.

On the horizon

San Francisco-based cannabis investor network The ArcView Group predicts legal sales to top $22.8 billion by 2020, meaning the opportunities for kiosk deployments are only going to continue to expand, both in the United States and around the world. In addition, the expected growth is driving the development of new solutions for the industry.

Several companies have introduced kiosks that actually dispense marijuana, verifying customers via biometrics. Most of those efforts have struggled, though.

Tempe, Ariz.-based American Green recalled all of its Zazzz cannabis vending machines in December 2015 in response to feedback from dispensary vendors and customers, and is retooling its automated vending program.

And Los Angeles-based vending kiosk provider Medbox rebranded itself as Notis Global in February 2016, shifting its focus to cultivation, production and consulting.

Still, the technology that would be required to dispense packages of marijuana is already being used to dispense other products. There may come a time when marijuana vending kiosks are as commonplace as those renting DVDs.

“I was reading an article recently about a company deploying kiosks to dispense packages of tea,” Estaitieh said. “If a kiosk can dispense tea it could easily dispense marijuana.”

The current struggle for acceptance of those types of kiosks may be due to the fact that they have been primarily located in dispensaries. If a customer is already in a dispensary, they may be inclined to simply go to the counter and talk with a bud tender.

Depending on traffic, though, there may be a day when customers will prefer to use a kiosk for convenience. And as medical marijuana becomes more accepted around the country, pharmacies may look at those types of kiosks as a way to compete with dispensaries.

There also may be opportunities for marijuana-dispensing kiosks outside the United States as other countries seek to cash in on changing attitudes. Jamaica, for example, is in talks on a plan to install cannabis kiosks at airports and seaports as part of a plan to boost government revenues.

Jamaica decriminalized the possession of small amounts of marijuana in 2015 and has legalized the use of medical marijuana, part of a plan to market the Caribbean nation as a destination for “wellness tourism” and the accompanying flow of cash.

“The thought is that if you are coming out of the airport, there is a kiosk that you can go to,” Cannabis Licensing Authority (CLA) Chairman Hyacinth Lightbourne told the Jamaican publication The Gleaner.

“It would primarily be for people who have a prescription and, in effect, you’re doing it for medicinal purposes with a permit from the Ministry of Health,” Lightbourne said. “If they don’t have a prescription, then they can do what we call ‘self-declare,’ and this will allow them [to purchase] two ounces while they are here.”

Marijuana Kiosk More information 

How the payments industry came to accept marijuana – from Payments Source. Excerpt:

Despite this progress, most financial services providers still see compliance as a hurdle. Only about 300 of the more than 11,000 banks currently operating in the U.S. work with legal pot vendors.

“Paradoxically, most of the institutions nationwide that offer business to marijuana suppliers are small and very unhealthy; most are the ones desperate for income,” said Lamine Zarrad, founder and CEO of Tokken, a Denver-based blockchain startup.

Tokken sees the marijuana industry’s situation as comparable to other industries, and thus it can apply solutions that other markets use. Tokken uses bitcoin blockchain to peg marijuana transaction information to its blockchain so that banks and regulators have an immutable, time-stamped record. Information about each transaction is hashed and input on the bitcoin blockchain. In this way consumers, businesses, banks, regulators and law enforcement agencies can view the system and ensure there’s no tampering, Zarrad said.

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Press Release – Marijuana Legalization, Vending and Automated Self-service Payment

kiosk industryEastlake, Colo., January 9, 2017Just two years into the state’s experiment in marijuana legalization for recreational use, Colorado businesses are on track see more than $1.3 billion in revenue from the sale of weed and related products. That’s a whopping 30 percent higher than the $1 billion those businesses took in last year.

One of the difficulties faced by the industry has been the primarily cash only transaction.  Employees (or budtenders) end up handling a significant amount of cash.  In any retail environment employee theft is the largest loss component for retail. Over $50 billion a year.  

Recent self-service innovations have emerged which eliminate the employee from that chain.

“What we’re doing with the kiosks is taking the money straight from the customer’s hands and putting it right into the vaults in our kiosks,” said Cannabis Cash Solutions CEO Andrew Savala. “The marijuana business doesn’t touch the cash at all.”

Malvern, PA-based Crane Payment Innovations is taking a similar tack, providing kiosks that include cash acceptors, bank note recyclers and coin dispensers.

Bassam Estaitieh
Director of Business Development – Acquisitions
CPI | Crane Payment Innovations

“It seems to be quite an up-and-coming market,” said Bassam Estaitieh, director of business development – acquisitions with CPI. And the next step for marijuana retail may be vending the product.

“I was reading an article recently about a company deploying kiosks to dispense packages of tea,” Estaitieh said. “If a kiosk can dispense tea it could easily dispense marijuana.”

You can read our full story on Cannabis and cash automation for self-service payment here [http://kioskindustry.org/cannabis-and-the-kiosk-industry/]

Editor Picks This Week – 

Kiosk Industry Association on Social Media

About Kiosk Industry Group

The Kiosk Industry Group is a professional news and marketing association for  the kiosk and self-service manufacturers. It is for the benefit of kiosk manufacturers, developers, resources and client companies who are involved in self-service and kiosk systems. News about the industry and by the industry is published on our website when it is relevant to companies that deploy or may deploy automated self-service, or to companies that support those deployers with hardware, software or applications. The Kiosk Industry Group has been active since 1995. Visit http://kioskindustry.org for more information.

Media Contact:

Craig Keefner

303-261-8836

craig@catareno.com

 




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Even the Weed Industry Isn’t Safe From Automation

The cannabis industry’s unique financial difficulties have created a whole micro-industry dedicated to creative banking solutions for pot brokers, which range frombank-to-bank phone apps to blockchain powered peer-to-peer transactions

Source: motherboard.vice.com

KIND is not the only software and/or compliance company to be thinking about cannabis kiosks—Jane and KioWare are two other companies that also want to use automated kiosks as a solution to the cannabis industry’s financial problems. Even Jamaica’s Cannabis Licensing Authority is on the kiosk train and wants to install weed kiosks in Jamaica’s airports. Yet with KIND’s recent partnership with Microsoft to provide cannabis tracking solutions for governments, Dinenberg thinks that KIND definitely has the leg up on competition.




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Automated Cashier Hardware Demo

Short demonstration of the capabilities of the Automated Cashier.  This is designed and used primarily in the marijuana and cannabis industry.

Source: youtu.be

great demo by Andrew. shows recycler by mei transacting via tablet over network.




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Jane looking to solve big problem in the legal-marijuana industry

Jane uses Kiosk Association member Kiosk Innovations as its manufacturer.

Jane is looking to grow up the marijuana industry.

Source: www.businessinsider.com

Kiosks are not inexpensive — between $2,495 and $3,495 a month, depending on the services. Foster says the ROI is proven over and over again.

See Kiosk Innovations

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Marijuana kiosk – York software company joins team creating a cash-accepting marijuana kiosk for cannabis industry

Marijuana Kiosk – KioWare, Crane Payment and Olea team up in cannabis market

Source: www.cpbj.com

KioWare is writing the software for the marijuana kiosk while California-based Olea Kiosks Inc. is designing and marijuana kioskmanufacturing the actual kiosk. Malvern-based Crane Payment Innovations is designing equipment for handling money inside the kiosk.

“I look at it like the kiosks that are coming into the fast food industry now,” said Frank Olea, CEO at Olea. “You place your order yourself on an electric board, and you take the receipt to the front counter where they hand you your food. That’s how it works.”

Read full article. It’s very good.

Source: www.cpbj.com

Good comments within the article as well:

Dave M June 27, 2016 11:46 am

The problem is that most companies trying to do this don’t quite understand all of the implications of handling these types of transactions. While Jane built a bunch of kiosks 2 years ago to go after this market, they’re all sitting in a warehouse because the way they tried doing transactions still doesn’t pass muster with the banks. This latest approach of taking cash via a kiosk doesn’t address all of the issues either. One company that I am aware of, GetExpoNow.com, has a much different process which is meeting approval of the banks and regulators. While this article makes the problem and solution seem oh so simple, it is far from that.

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Marijuana kiosk – the next self service revolution?

Marijuana Kiosk Next Self Service Revolution

Source: kioskmarketplace

Excerpt:

The effort to legalize marijuana for medicinal or recreational usage has been long, but it is finally bearing fruit. Marijuana is legal for recreational use in Oregon, Washington, Alaska, Colorado and the District of Columbia.

However, banks refuse to deal with the marijuana industry because cannabis remains on the federal list of banned substances, and acquiring and processing payments for it could put a bank at risk for AML/KYC prosecution. As a result, legal marijuana businesses cannot accept debit or credit cards.

Cash-only status can be a security liability for businesses. However, some vendors are offering kiosk solutions to the payment problem.

Comments: They probably do not list the armored services. The normal ones cannot be used due to lack of insurance so a whole other group of self-insured cash carriers is evolving. The Jane kiosks are accepting cash and the models would seem to justify a cash recycling solution to further mitigate cash handling. Craig with Kiosk Industry Group.

Read full article at: kioskmarketplace




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Cannabis Cash

Cannabis Cash Management Kiosk

By Craig Keefner Sep 18, 2015: Living in Colorado like I do, it makes a lot of sense for me to do a bit of an update on the budding (or blooming) cannabis industry.  Speaking for myself and from what I see Denver has quickly graduated into the big hub status. Only Donald Trump gets as much press (for now).

cannabis-1
Typical “teller” configuration here at local cannabis shop. Click to expand to view size

Last week I went into one of the recreational shops to do some research. I live on north side of Denver.  I asked about good days and bad days.  Average transactions.  Payment methods and bills if cash.  My estimate for the 100 or so shops in Denver is around $500K per day.  That is recreational + medicinal.

In January Colorado got $2M in tax revenues (28.5% rate) from recreational.  That includes cigarettes, loose leaf, and edibles.

In the self-service industry today was a new site launch for Cannabis Cash Solutions. CCS provides vault and software integrations for cash management in a recreational marijuana establishment.

Benefits include:

  • Budtenders never have to handle the cash again
  • Makes integrating complex cash devices fast and simple
  • Accept cash and dispense cash and coin
  • Huge savings on development costs
  • Reduce integration time down from 9+ months to days

CCS is also offering smart vaults.

Benefits:

  • Securely accept, dispense and vault your cash
  • Budtenders never have to handle your cash again
  • Accept cash and dispense cash and coin
  • Can be mounted inside your counter for minimal presence or to the ground
  • Supports Windows, Android, iOS, Linux and more

It’s a simple transaction here requiring just a drivers license.  Average transactions are $60 or so?

Legal and banking constraints make it difficult for business to be conducted via credit card (though as much as 50% is…). Cash is king, again.

Another company I’ve been watching is TrustJane.  Kiosk services but more than that they are a compliance team for the marijuana businesses.  Also you can see TrustJane at the CWCBE in LA this week.

Jane co-founder Jeff Foster will be one of the featured speakers at the 2nd Annual Cannabis World Congress and Business Expo,the leading forum for doing business in one of the fastest growing industries in the United States. If you’re employed in the cannabis industry, a current business owner, interested in starting a cannabis business, provide private equity & investment resources, or provide professional or business services, this is an event you can’t afford to miss.  Jane will also be at booth 313. Stop by and say hello.

More on CCS from Andrew Savala:

Our main goal for CCS is to provide secure cash handling for marijuana dispensaries.  This is why we’re creating the Cannabis Smart Cash Vault https://www.cannabiscashsolutions.com/service-view/cannabis-smart-cash-vault/    This way the budtenders no longer have to handle the cash because the cannabis smart cash vault will accept the customers payment and dispense change.

We offer a couple payment options where the dispensary can either buy the vault outright our have a subscription based model.

We’re also creating payment device integration software so cannabis application developers can easily integrate cash payment devices into their applications https://www.cannabiscashsolutions.com/service-view/cannabis-cash-device-integration-software/

Our software greatly lowers the learning curve for developers wanting to integrate payment devices into their marijuana POS, kiosk or other cannabis related application.  The software also doesn’t require the use of our smart cash vault which gives the application developer the freedom to create their own secure enclosure.

More Info

News

  • 9/18/15: In Denver today it was announced that the city has decided to do an about face and work on solution to “marijuana tourists”.
  • 9/18/15: Ohio struggles with legalization – link
  • 9/15/15: Taco Bell fighting back and will serve alcohol – link

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ID-verifying marijuana-vending kiosk launched in Colorado …

What is believed to be the first age- and identity-verifying legal marijuana-vending machine in the U.S. has been launched in Colorado. The Zazzz Automated Marijuana Vending Machine has been installed by American …

See on www.selfserviceworld.com




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