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Indospace Allows Cannabis Merchants to Accept Bitcoin Effortlessly..:-]

https://www.bitcoin.com/


https://news.bitcoin.com/indospace-io-cannabis-merchants-accept-bitcoin/






This week Bitcoin.com spoke with Justin Nahin, the founder of Indospace, a payment platform startup connecting cannabis dispensaries with bitcoin.

Also read: Bitcoin Price Skyrockets — Touches $2860 Across Global Exchanges

Indospace.io Allows Cannabis Merchants to Accept Bitcoin EffortlesslyIndospace.io is the first online payment solution that incorporates a dispensary’s updated menu with a bitcoin checkout. The company is a white label bitcoin payment platform that serves marijuana dispensaries and their customers throughout the U.S. and in Canada. They allow individual dispensaries (and those with multiple locations) to register and login using two-factor authentication (2FA) to claim their business and establish certain selling criteria including: sales tax, delivery fees, delivery radius, employees and a minimum order amount among others.

Following the procedure, the dispensary can then save their settings and immediately open their online menu and bitcoin checkout cart. Each order received will be processed at a 3.5% fee with the balance automatically applied to their wallet supplied by Indospace. We chatted with Mr. Nahin to get some insight into the Indospace project and how bitcoin is used for cannabis purchases.

Integrating the Cannabis Market With Bitcoin

Bitcoin.com (BC): Can you tell our readers how you came up with your business model connecting dispensaries with bitcoin?

Justin Nahin (JN): I’ve known about Cannabis banking problems for quite some time, cash only and ATM machines are present at most dispensaries. Bitcoin seemed to be a great fit for the industry, and after extensively researching the topic I found numerous articles that strongly supported my personal assessment. I discovered that there were already a few dispensaries accepting bitcoin as one method of payment, which gave me the confidence to pursue the last ten months in developing this business. I thought that there must be plenty of other dispensaries wanting to accept bitcoin as well, but quickly discovered that there was a multitude of existing technical hurdles. Most businesses found them insurmountable and simply quit. Realizing that there had to be a better way, I decided to build a web platform that put everything into one neat little package.

The Indospace.io platform makes it easy for both the dispensary owner and their customers to engage in cannabis bitcoin transactions. I had decided to contact some dispensaries that were already accepting bitcoin and quickly determined that they were missing numerous critical pieces.
BC: Have you worked with any dispensaries so far helping them integrate their menu?

JN: The company launched Sunday, June 4, 2017. Our initial campaign reaches out to specific retailers showing them a preview of their menus and a recap of benefits.

BC: Can any state that has legal cannabis dispensaries use this platform?

JN: Yes, any dispensary in any state that has successfully registered with Indospace can immediately engage in ecommerce.

BC: Can you tell our readers how bitcoin is used for a transaction?

JN: The process starts when a user lands on a dispensary menu page by way of an organic search or by clicking a direct link placed on social media pages. A popup confirms the necessary requirements to proceed with an online order, such as requiring an MMJ medical license, age status, location and obtaining enough bitcoin to complete their transaction.