CurrencyWorks Platform Now Supports Payment Infrastructure for CaliCard and 5 Top California Cannabis Retail and Delivery Brands
Los Angeles, California, May 04, 2022 (GLOBE NEWSWIRE) — CurrencyWorks Inc. (“CurrencyWorks” or the “Company”), (CSE: CWRK and OTCQB: CWRK), an award-winning, full-service blockchain platform provider, today announced that CaliCard Inc. (“CaliCard”), with platform support from CurrencyWorks, released and deployed its closed-loop payment and cross-network advertising platform for cannabis delivery providers in California.
The solution combines the best cannabis delivery tools such as e-commerce, least-cost delivery routing and customer management with digital settlement, including the ability to purchase CaliCard currency with popular methods such as debit, credit and direct ACH.
The solution has been distributed to five major retailers. Consumers benefit from access to exclusive deals and offers as well as the flexibility to use existing electronic payment methods without having to enroll in a separate payment program.
Retailers benefit from fast and reliable digital payments, the ability to extend promotions to a captive audience, and virtually no fraud-related chargebacks. CaliCard leverages “Know Your Customer” (“KYC”) compliance technology to ensure consumers are who they say they are. This has a dramatic effect on chargebacks commonly encountered in traditional merchant programs.
The solution leverages the best fintech technology on the market today and ensures compliance with all federal and state banking laws. Consumers are protected against fraud and abuse by taking advantage of the integrated checkout process built into the buyable e-commerce platform.
In addition to current development work and customer service, the parties are creating a cryptocurrency option that CaliCard members can use as a means to fund their CaliCard balances and, in turn, use the proceeds to purchase cannabis from of the growing list of retailers leveraging CaliCard for merchant services. The solution is expected to be released at the end of Q3 2022.
“The CurrencyWorks team created an elegant and simple solution that solved a problem that many industries face, which is the inability to support payment for a product that is not supported by traditional ways,” said Cameron Chell, president of CurrencyWorks. “The benefits of our platform and services benefit both the consumer and the retailer.”
“We are excited about the platform and services deployed by CurrencyWorks,” said Christian Schenk, founder and CEO of CaliCard. “CaliCard is dedicated to pushing the boundaries of fintech in several high-risk categories and will expand its operations beyond California in the coming months.”
CurrencyWorks Inc. (CSE: CWRK and OTCQB: CWRK) is an award-winning, publicly traded company that builds and operates a full-service blockchain platform.
Bruce Elliott, President