Marijuana technology company WM Technology is launching an integrated digital payment service for cannabis retailers in Ontario, Canada’s largest adult-use market, with plans to launch in other provinces.
Customers of participating retailers will be able to browse cannabis products on WM Technology’s Weedmaps listing platform, then make direct payments to the retailer using Visa or MasterCard, WM Technology announced Thursday morning.
The new functionality follows Ontario’s recent move to make permanent cannabis retail delivery and curbside pickup, cementing a temporary program launched early on in the COVID-19 pandemic.
“The company expects that Ontario will be a launchpad for Weedmaps’ digital payment plans in other Canadian provinces in the coming months,” the Irvine, California-based company said in a news release.
WM Technology is also launching its WM Store product in Ontario to bring “the Weedmaps platform directly to cannabis retailers’ branded websites,” offering customization options for retailers “to better reflect their corporate brand and create a more seamless, end-to-end order experience for customers.”
The company said it has partnered with cannabis retail point-of-sale and inventory management platform Cova Software as well as payment processing services provided by Merrco Payments.
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Adult-use cannabis sales in Ontario were worth 142.6 million Canadian dollars (roughly $110 million) in February, or more than 42% of all legal recreational cannabis sales in Canada that month.
WM Technology shares trade as MAPS on the Nasdaq exchange after the company went public in 2021.