Cannabis Consumer Payment Preference Survey

Hypur commissioned a 3rd party survey of cannabis consumers about their payment preferences when purchasing cannabis.

Below are the results of the cannabis payments survey of cannabis consumers. Participants of the survey were split roughly 50/50 among medical marijuana and recreational marijuana consumers and more than half purchased cannabis at least weekly. 

Results of similar cannabis consumer surveys:

Q1: How often are you purchasing any form of state-legalized cannabis products? (for medical or recreational use)

Daily12.50%
Weekly41.00%
Monthly31.00%
Rarely15.50%

Q2: Do you live in a ‘medical-only’ or ‘recreational use’ cannabis legalized state?

Medical-only use47.00%
Recreational use43.50%
Unsure9.50%

Q3: Based on the dispensaries’ payment acceptance types you make purchases at, how do you normally pay?

Cash70.50%
Visa/MC debit or credit card26.50%
Electronically from my bank account with a mobile app solution like ‘Hypur’ or ‘CanPay’3.00%
Other0.00%

Q4: How would you PREFER to pay for your state-legalized cannabis products?

Cash55.00%
Visa/MC debit or credit card37.00%
Electronically from my bank account with a mobile app solution like ‘Hypur’ or ‘CanPay8.00%
Other0.00%

Q5: If cash is your preferred form of payment for your dispensary purchases, WHY do you prefer paying cash? (can choose multiple answers)

Only option available at the location(s) I usually buy from24.24%
I bring cash with me to avoid having to pay a convenience fee on other payments options in-store33.00%
Don’t want anyone to know about my purchase15.82%
Don’t want a dispensary name showing up on my bank or credit card statement11.78%
Prefer use cash on all my retail purchases (not just cannabis)12.79%
Other2.36%

Q6: How do you usually obtain your cash for your cash purchases?

I usually bring in cash on me for my purchases to avoid the in-store ATM fee73.00%
I usually use an in-store ATM and don’t mind paying the ATM fee8.50%
I usually get money out of an ATM that’s not located inside the dispensary13.50%
Other5.00%

Q7: If in-store electronic payment options require you to pay a convenience fee on your purchase, how does that make you feel about the convenience fee?

Don’t think it’s right38.00%
Very frustrating18.50%
Somewhat frustrating25.00%
Doesn’t bother me11.50%
Happy to pay it6.00%
Other1.00%

Q8: If I had a choice of buying from a dispensary that only offers payment options with a convenience fee versus no convenience fees:

I would choose the NO convenience fee dispensary69.50%
I would choose the convenience fee dispensary15.50%
It would not impact my decision of what dispensary I choose13.50%
Other1.50%

Q9: If the only 2 payment options available were cash or a Visa/Mastercard debit or credit card, which would you prefer to use?

Cash65.00%
Visa/MC debit or credit card35.00%

Q10: If your dispensary offered an alternative way to pay by transferring funds directly from your bank account to the dispensary via a mobile app-based solution, would you:

Still pay in cash71.00%
Sign up to pay electronically from my bank account with the mobile app-based solution28.00%
Other1.00%

Q11: If it was a requirement to give your full social security # (to help verify your identity) to sign up for an electronic ACH solution like Hypur or CanPay, would you complete the signup process?

Yes19.50%
No43.00%
Unsure, need more information37.50%
Other0.00%

Q12: If it was a requirement to only give the last 4 digits of your social security # to sign up for an electronic ACH solution without giving your entire SSN, would you complete the signup process?

Yes37.00%
No27.00%
Unsure, need more info36.00%
Other0.00%

Q13: If a dispensary had these 3 payment options, which would you choose?

[No convenience fee] Cash that you bring on you into the dispensary71.50%
[No convenience fee] Electronic mobile app ACH solution like Hypur or CanPay23.00%
[$3-$5 Convenience fee] In-store ATM5.50%

Q14: If a dispensary had these 3 payment options, which would you choose?

[No convenience fee] Cash that you bring on you into the dispensary86.50%
[$3 Convenience fee] Visa/MC debit or credit card9.00%
[$3-$5 Convenience fee] In-store ATM4.50%

Q15: If a dispensary had these 3 payment options, which would you choose?

[No convenience fee] Cash that you bring on you into the dispensary65.50%
[No convenience fee] Visa/MC debit or credit card26.50%
[$3-$5 Convenience fee] In-store ATM8.00%

Q16: If a dispensary had these 4 payment choices, which would you use?

[$3 Convenience fee] Visa/MC debit or credit card6.00%
[$3-$5 Convenience fee] In-store ATM7.00%
[No convenience fee] Electronic mobile app ACH solution like Hypur or CanPay24.50%
[No convenience fee] Cash that you bring on you into the dispensary62.50%

Q17: If a dispensary had these 4 payment options, which would you choose?

[No convenience fee] Cash that you bring on you into the store)58.50%
[No convenience fee] Visa/MC debit or credit card27.50%
[No convenience fee] Electronic mobile app ACH solution like Hypur or CanPay9.00%
[$3-$5 Convenience Fee] In-store ATM5.00%
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