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Block Inc's Square enters Canadian pot market with Jane Technologies as partner

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By Sourasis Bose (Reuters) - Square, a unit of fintech company Block Inc, said on Wednesday it would enter the Canadian cannabis market through a ...

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Sourasis Bose

The payments processing firm — founded by Jack Dorsey, co-founder of Twitter — said it would launch an early access program in the Ontario province for licensed dispensaries to test its retail point-of-sale offerings. Despite strong growth initially following legalization of pot in Canada in 2018, the country's cannabis industry faces intense competition from cheaper marijuana that is sourced illegally.

 

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Block Inc's Square enters Canadian pot market with Jane Technologies as partnerSquare, a unit of fintech company Block Inc, said on Wednesday it would enter the Canadian cannabis market through a partnership with e-commerce platform Jane Technologies. The payments processing firm — founded by Jack Dorsey, co-founder of Twitter (now known as X) — said it would launch an early access program in the Ontario province for licensed dispensaries to test its retail point-of-sale offerings. Those who sign-up with Square for payments systems in physical stores would also be able to use Jane's platform for selling their products online, the companies said.
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