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Cannabis Consumer Survey: Q2 2020

Hypur commissioned a 3rd party to survey cannabis consumers regarding their purchase habits at medical and recreational marijuana dispensaries during Q2 2020.

The survey included questions about how they prefer to pay for cannabis for various purchase methods (in-store, online, delivery, etc.).

Below are the results of the survey. The results show that consumers increasingly prefer electronic forms of cannabis payments.

Results of similar cannabis consumer surveys:

Q1: How has COVID-19 changed your mind about regularly paying for your cannabis products with cash?

No, I still prefer paying with cash	41%
Yes, I want to pay electronically from now on if given the option	45%
Unsure	8%
I’ve never paid with cash beforehand	6%

Q2: What is your preferred payment method IN STORE for your cannabis purchases?

Cash	48%
Credit card	20%
Debit card	27%
Mobile wallet	4%
Other	1%

Q3: What is your preferred payment method ONLINE for your cannabis purchases?

Debit card	51%
Credit card	36%
Mobile wallet	8%
Other	5%

Q4: Is security a concern when choosing a payment method?

Yes	49%
No	26%
Not Sure	7%
Not really	18%

Q5: What security features are most important to you? (check all that apply)

Email/text verification	54%
4-digit passcode	70%
Thumbprint	35%
Facial recognition	24%
Voice recognition	13%
None	5%

Q6: Would you sign up for a mobile payments app if it required the last 4 digits of your SSN?

Yes	47%
No	52%
Unsure	1%

Q7: Why wouldn’t you feel comfortable using just the last 4 digits of your SSN?

I don’t know my last 4	2%
I don’t feel safe	40%
I’m concerned it stores and shares my information with a third party	39%
I’m very private	18%
Other	1%

Q8: What do you believe is the safest IN-STORE payment method for cannabis purchases?

Cash	60%
Credit card	16%
Debit card	18%
Digital/Mobile	6%
Other	0%

Q9: What do you believe is the safest ONLINE payment method for cannabis purchases?

Credit card	39%
Debit card	41%
Digital/Mobile	17%
Other	3%

Q10: What reasons for carrying or handling cash make you feel uncomfortable (check all that apply)?

I feel like a target for theft	35%
I feel like it easily transmits infectious germs	35%
It’s easier to lose	42%
I don’t like carrying it at all	18%
Always having to go to the bank or ATM	26%
No issue	22%

Q11: If CASH is most preferred for your cannabis purchases, why?

I don’t have a bank account	5%
Convenience	44%
Privacy	33%
Always on me – I use cash for most purchases	14%
No other option	4%

Q12: If a DEBIT card is most preferred for your cannabis purchases, why? (check all that apply)

Not applicable / Not accepted	31%
It’s my main payment method for most purchases	37%
I get rewards on my purchases	21%
I can only spend what’s in my account	20%
Convenience	19%
Other	1%

Q13: If a CREDIT card is most preferred for your cannabis purchases, why? (check all that apply)

Not applicable / Not accepted	40%
It’s my main payment method for most purchases	28%
I get rewards on my purchases	32%
I can only spend what’s in my account	11%
Convenience	15%
Other	1%

Q14: If a DIGITAL/MOBILE payment solution is most preferred for your cannabis purchases, why? (check all that apply)

Not applicable / Not accepted	47%
It’s my main payment method for most purchases	19%
I always have my phone on me	31%
It’s safer	13%
It’s convenient	24%
Other	1%

Q15: Overall, my PREFERRED payment method for cannabis purchases is?

Cash	50%
Credit card	20%
Debit card	25%
Digital/Mobile	5%
Other	0%

Q16: If your dispensary offered you a safe/secure mobile solution (like ‘Hypur’) to pay directly from your bank account, would you:

Sign up for a free account	32%
Not want to pay with mobile/digital from my bank account	25%
Unsure, need more information	43%

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