BFLI and the Future of Cannabis Payments: Navigating Cashless Transactions and Industry Challenges

BFLI and the Future of Cannabis Payments: Navigating Cashless Transactions and Industry Challenges

Author: Cannabis Radio October 2, 2024 Duration: 42:57

Christian Fea, co-founder and CEO of Monarch Technologies, discussed the launch of their closed-loop mobile app, BFLI, designed for the cannabis industry. BFLI aims to reduce cash transactions, which currently constitute 50% of cannabis payments, by offering a compliant, digital payment solution. FEA highlighted the challenges of cannabis banking, with only 200-250 banks accepting cannabis accounts. He also mentioned partnerships with cities like Desert Hot Springs for tax collection and compliance, and the potential for future lending services. The app, available on Apple and Google, is designed to streamline payments and tax processes, offering a more secure and efficient alternative to cash transactions.



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There’s a lot more to the cannabis industry than what grows in the field. Blunt Business, from Cannabis Radio, digs into the complex reality of building and running a company in this fast-moving space. We’re talking about the real work behind the scenes-supply chain logistics, regulatory hurdles, branding in a crowded market, and managing teams in a unique cultural environment. Each episode brings together voices who are actually doing the job, from executives steering multi-state operations to entrepreneurs who just opened their first dispensary. You’ll hear candid roundtable discussions where strategies are debated, and interviews that get into the specifics of leadership and finance without the hype. This isn’t about advocacy or culture; it’s a practical look at the mechanics of a profitable, high-stakes business. Tune in for a podcast that cuts through the smoke and offers tangible insights you can apply, whether you’re an investor, a manager, or building your own venture from the ground up.
Author: Language: English Episodes: 100

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