Connect with us


Zenco Payments Steps Up as Mastercard Halts Cannabis Transactions

Closed-loop payment system lets consumers process ACH payments via their phones.




Mastercard’s suspension of cannabis-related debit card transactions has caused disruption in the industry, prompting concerns about other financial institutions following suit. In response, Zenco Payments is offering compliant payment solutions to enable cashless transactions while adhering to regulations. Zenco’s closed-loop payment system lets consumers process ACH payments via their phones, bypassing the need for debit cards.

Dev Nath, Chief Revenue Officer of Zenco

“The Mastercard shut down is one more hurdle for compliant cannabis businesses that are already navigating a complicated banking system and oftentimes are being gouged by bank fees and limited cashless options,” said Dev Nath, Chief Revenue Officer at Zenco.

The East Brunswick, New Jersey-based, minority-owned company says it aims to simplify payment processes and reduce costs for cannabis businesses, with web-based applications that require no integration with existing POS systems.

Zenco’s cashless payment solutions include Zenco Mobile Pay, an app facilitating cashless cannabis purchases for consumers, and Zenco B2B Pay, enabling cannabis suppliers to sell merchandise to retail stores and dispensaries via a free e-commerce platform.





Going Global - Pioneering Cannabis Hospitality: A Conversation with Arend Richard

In this enlightening interview, Arend Richard, a seasoned entrepreneur from the cannabis industry, shares his journey from starting a YouTube channel to educate on cannabis use, to co-founding WeedTube, and developing a unique cannabis hospitality business. Born and raised in Colorado, Aaron discusses the evolution of his business ventures and his current project—creating a welcoming, educational environment for both seasoned and first-time cannabis users. He delves into the challenges of establishing a cannabis-friendly social space, including regulatory hurdles and community engagement, and highlights his vision for a new kind of social interaction centered around cannabis.

Promoted Headlines

Most Popular