Massachusetts credit union partners with marijuana payment processor

The GFA Federal Credit Union, which said in 2018 that it would serve Massachusetts marijuana companies, announced a new partnership this week with cannabis payment processor Hypur to bring digital payment options to MJ retailers in the state.

The move is another example of the slow but steady inroads the cannabis industry is making with financial institutions.

According to Benzinga, the goal is to allow for digital, contactless payment options for in-store purchases as well as through curbside pickup and delivery in order to provide more protection for both customers and staffers during the ongoing coronavirus pandemic.

Similarly, Arizona-based Hypur earlier this year debuted contactless payment options for California retailer Caliva and the online marketplace Dutchie.

“Digital payment solutions like Hypur Pay are now essential to helping cannabis businesses thrive and empowering cannabis consumers to buy products when and how they want to, just as they would for any other purchase,” Hypur’s chief revenue officer, Tyler Beuerlein, told Benzinga.