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KIND Financial Announces Launch of First-Ever Closed-Loop Payment App- KindPay

·2 min read

The new app will allow approved retailers and cannabis dispensaries access to commercial bank accounts and cashless consumer transactions

LOS ANGELES, Nov. 19, 2020 /PRNewswire/ -- KIND Financial, a leading regulatory technology company that has been focused on improving business operations for the global cannabis and hemp industries, announced today the completed development of a ground-breaking new mobile app called KindPay. KindPay, powered by Herring Bank, is a closed-loop payment system for cash-free mobile payments to approved merchants. Consumers can fund their KindPay wallet account with a credit or debit card. KindPay is accepted at participating retailers across the nation. The app will be available on the Apple App Store and Google Play Store, free of cost to the consumer. Additionally, the company will offer devices for merchants to process transactions with, and an Application Programming Interface (API) to allow nearly any point of sale system to integrate with KindPay.

When CEO and Founder David Dinenberg started KIND Financial, he wanted to help merchants that have been traditionally declined by banks. The company believes that all legally licensed operators in cannabis and hemp should be able to conduct business like any other industry. For years now, KIND's software has enabled regulators, in real-time, to know where and how much cannabis and hemp is being grown, processed, or sold. Now, with the launch of the transformative KindPay, the company is providing a platform for the industry to adopt a new historic standard of transparency and safety that will help many who have had difficulty with banking in the past.

"The development and launch of Kind Pay has been long-awaited by the cannabis industry," said KIND Financial founder David Dinenberg, "This new app will allow dispensaries, growers, and consumers alike, to transact transparently and safely. Also, due to the pandemic, contactless and cashless transactions have become safer ways to pay."

KIND Financial is a financial services company that provides seed to sale tracking software and RegTech for the cannabis and hemp industries. Their mission is to help the rapidly growing markets reach a higher level of maturity and garner the business recognition they deserve. KIND develops and provides critical technology solutions that businesses, government agencies, and financial institutions need to operate securely and in compliance with government regulations within the cannabis and hemp industries.

Learn more online at getkindpay.com

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SOURCE KIND Financial