A new company is aiming to help make Washington state’s recreational marijuana industry cashless.
PayQwick is headquartered in Calabasas, California and has an office in Kenmore. Washington state is the only place where it has clients so far. The company works similarly to PayPal, but for recreational marijuana transactions. Consumers can buy PayQwick cards, link them to their bank account and then transfer money to the cards, which they then use in stores.
Marijuana retailers and producer/processors can use PayQwick’s app and website to transfer money between each other and pay bills. The company has six client stores across the state, but is hoping to grow quickly.
PayQwick doesn’t do business with medical marijuana shops and focuses instead on the recreational shops across the state.
Read the rest of the interview with Kenneth Berke by Annie Zak in the Puget Sound Business Journal: