Payments and Banking for the Cannabis Industry with Thomas Gavin of CannaTrac | Soar Payments LLC

Payments and Banking for the Cannabis Industry with Thomas Gavin of CannaTrac

There’s little doubt that the legal cannabis industry is here to stay, and will continue to grow as more states (and someday even the federal government) will push for legalization (both medicinal and recreational).

Yet the financial side, from banking to commerce, will continue to be a challenge for dispensaries and other legal cannabis businesses must navigate.

Fortunately there are great fintechs working to solve these issues and carve a path forward through technology and transparency. Our guest today is Thomas Gavin IV, CEO of CannaTrac® Technology Inc., a company working to do just that.

Listen in as Tom breaks down the payments and banking challenges the legal cannabis industry faces, and how they can be overcome!

Payments & Fintech Insights In This Episode

  • The story behind CannaTrac®, and how Tom joined their team.
  • What the biggest payments and regulatory challenges are for dispensaries and other legal cannabis businesses.
  • How CannaTrac® helps cannabis businesses navigate these challenges, and helps consumers participate in the legal cannabis industry.
  • Tom’s thoughts on the present and future of payments both in the legal cannabis realm, and wider fintech industry.
  • With much more!

Featured on the Show

Industry Spotlight


CannaTrac® is the leading cashless payment solution for the cannabis industry. The company’s mission is to promote consumer safety and provide cannabis and hemp businesses with a secure system for banking. The company’s CannaCard® mobile app is designed to make cannabis purchasing safe, secure and convenient by allowing consumers to directly load funds from their debit or credit cards onto the app – creating a completely cashless transaction.