A new mobile wallet app is the solution that cannabis businesses have been waiting for.

Valley National BankVALY sub-national VDA (NASDAQ: VLY) announced today that it is creating a new digital payment platform specifically for cannabis-related businesses.

Vali Payments, the new digital payment solution, transfers money usage to a secure web application, easing the burden on cannabis operators who rely on cash transactions today. Cannabis industry is dependent on cash transactions as major debit and credit cards are not accepted.

The application allows cannabis-related businesses to provide their customers with an obedient, secure and streamlined mobile wallet payment system.

“This new digital payment platform is the first of its kind to serve the critical payment needs of cannabis-related businesses,” says Stuart Cook, Vali Digital Product Officer. “We see the reliance on cash and existing payment options as a big problem and we are committed to helping create a comfortable and safe solution for our customers.”

The Valley is one of the largest national banks serving multi-state cannabis-related business operators. Our dedicated team of banking professionals, including boarding and treasury management specialists, is focused on serving the needs of cannabis-related businesses. The Valiant Cannabis Related Commercial Banking Program is designed to provide value to our customers in terms of compliance, convenience and cost.

The new payment platform is expected to launch a pilot program in the coming months.

To find out more about this payment platform, if you have a media question or would like to learn more about joining the Valley Digital Products team, please visit valley.com/valleypay.

About the valley

As a major component of the Valiant National Bank, Vali National Bank is a regional bank with an estimated net worth of $ 41 billion. Valley is committed to giving people and businesses success. The Valley operates a number of convenient branches in New Jersey, New York, Florida and Alabama, and is committed to providing an experienced and knowledgeable team dedicated to providing the most convenient services, latest innovations and customer needs. Helping Communities Grow and Prosperity is at the heart of Vali’s corporate citizenship philosophy. Go to learn more about the valley www.valley.com Or call our customer care center at 800-522-4100.