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:
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% |
Cash | 48% |
Credit card | 20% |
Debit card | 27% |
Mobile wallet | 4% |
Other | 1% |
Debit card | 51% |
Credit card | 36% |
Mobile wallet | 8% |
Other | 5% |
Yes | 49% |
No | 26% |
Not Sure | 7% |
Not really | 18% |
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% |
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% |
Cash | 60% |
Credit card | 16% |
Debit card | 18% |
Digital/Mobile | 6% |
Other | 0% |
Credit card | 39% |
Debit card | 41% |
Digital/Mobile | 17% |
Other | 3% |
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% |
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% |
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% |
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% |
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% |
Cash | 50% |
Credit card | 20% |
Debit card | 25% |
Digital/Mobile | 5% |
Other | 0% |
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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