CHICAGO, Sept. 16, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CannaTrac® Technology, Inc. (“CannaTrac” or “the Company”), the leading cashless payment solution for the cannabis and hemp industries, announced today that the Company has signed a partnership with Sionic Mobile Corporation (“Sionic” or “Sionic Mobile”), a cloud-based digital commerce provider, to begin accepting CannaCard® cashless payments in tens of thousands of national and regional retailers across the country.  

“We couldn't be more excited to join forces with such a well-respected, established mobile commerce company as Sionic to bring our user-friendly cashless payment solution to consumers nationwide,” said CannaTrac Vice Chairman and CEO Thomas Gavin IV. “Since the beginning of the COVID-19 pandemic, we have seen a significant increase in the popularity of cashless payments and data is showing that the trend is only projected to continue. Offering CannaCard digital payments through an exclusive merchant network is the perfect solution for retailers who are shifting their strategy to fit the consumer demand for touch-free payment options. Our app-based system is simple to use, allows for retailers to interact with their consumers on various levels including through our rewards platform, and offers a level of security to our users that cash simply cannot.”

As a result of this partnership, small-to-medium business (SMB) retailers will also be able to activate the CannaCard® payment solution through their existing point-of-sale systems using Sionic’s 3-digit CODE checkout. At large national retailers, consumers will have the ability to make contactless, mobile payments through the CannaCard® mobile app. Users can load funds onto their CannaCard® straight from their banking accounts through the mobile app. Additionally, consumers will earn rewards for all mobile purchases made through the CannaCard mobile app, which can be redeemed through any store in the merchant network.

“We’re thrilled to align with CannaTrac and its channel-first offering,” said Sionic CEO Ronald Herman. “We believe the CannaCard solution is a game-changer and will have a big impact on the industry as a whole. The timing couldn’t be better.”  

According to a recent study, 54 percent of consumers surveyed are concerned about handling paper money and coins as a result of COVID-19, and 60 percent of consumers plan on using digital and/or touchless payments instead of cash or coins in the future because of COVID. Prior to the pandemic, the use of cashless payment solutions was already on the rise due to various advantages for both businesses and consumers, such as fewer opportunities for theft, increased speed of transactions, and lower cash handling costs for companies. In the U.S., it is expected that by 2022 the number of non-cash transactions will surpass 200 billion

By offering CannaCard®, Sionic and other retailers are adjusting to “the new normal” of payment behavior and improving consumer experiences through convenience and increased safety measures that protect them and the general community. 

For more information about CannaTrac®, visit https://www.cannatrac.com/

ABOUT CANNATRAC®

CannaTrac® is dedicated to bringing safety to the cannabis and hemp industries by serving as the industry’s leading cashless mobile payment system solution. CannaTrac® created the CannaCard® to provide consumers and retailers with a convenient way to benefit from increased safety and convenience through cashless purchases within the legal cannabis industry. Shop.Pay.Earn Rewards™ with the CannaCard®. To learn more about CannaCard® or register as a merchant, please visit https://cannatrac.com/.

About Sionic

Atlanta-based Sionic is a leading provider of connected commerce services, leveraging alliances with partners to drive more consumers to offline retail clients' locations. Whether through search, apps, and devices consumers use every day at home, in their vehicle, and on mobile, our ULink™ service makes it convenient to buy nearby. Visit www.SionicMobile.com.

CannaTrac PR Contact

Mary Borstelmann

CMW Media

mary@cmwmedia.com

(818) 433-8224

Sionic Mobile PR Contact

Anna Stanley/Catherine Laws

251-517-7857/678-781-7206

anna@williammmills.com/catherine@williammills.com