Valley Bank, a $41 billion-asset institution based in New Jersey said its new payment platform will provide a solution to an industry-wide cash issue plaguing its cannabis-related businesses by allowing their customers access to a mobile wallet payment system.
The nationally chartered bank, which has branch locations across New Jersey, New York, Florida and Alabama, currently serves five of the top 10 multi-state cannabis-related business operators, Valley Bank Chief Digital Product Officer Stuart Cook told Industry Dive at the Money20/20 conference in Las Vegas on Tuesday.
