SAN JOSE, Calif., Dec. 6, 2017 /PRNewswire/ -- Green Bits, the industry-leading retail and auto-compliance management platform for legal cannabis, announced today that the company will go live in Maryland in more than 20 percent of the retail stores selling medical cannabis when the market opens before the end of the year. Of the 102 retail dispensaries awarded licenses for selling medical cannabis to patients, Green Bits will power more than 20 stores, a significant initial market entry for the three-year-old company.
"We are excited to begin doing business in Maryland. When medical cannabis retailers begin serving their patients, we'll help retailers manage their sales and comply with their reporting obligations," Green Bits Founder and CEO Ben Curren said. "With Green Bits, retailers can focus on growing their businesses and rest easy in knowing their record keeping and reporting are automated."
The legalized cannabis sector is highly regulated from state to state. To comply with a state's regulations, including in Maryland, a retailer must carefully track purchases to ensure the state knows, among other things, the products and amounts that have been sold.
Green Bits' subscription-based platform helps individual dispensary owners to record and manage their customer transactions. Green Bits also enables retailers to automatically report purchases to Maryland's Medical Cannabis Commission to satisfy, among many other state requirements, seed-to-sale tracking rules that the state imposes to prevent illegal diversion.
"We can't wait to start serving our patients in the community. Green Bits has really helped us focus on the customer experience as opposed to spending time on compliance issues," said Zeina Frayha, the founder of HerbaFi in Silver Spring, Maryland.
Based in Silicon Valley with an executive team comprising veterans of the software, payments and credit card industries, Green Bits also operates in Alaska, California, Colorado, Maryland, Nevada, Oregon and Washington with plans to expand across all states with legalized marijuana in 2018.
About Green Bits
Green Bits (www.greenbits.com) is the nation's leading retail management and automated compliance platform built to help legal cannabis retailers grow their businesses. Green Bits serves more than 750 cannabis retailers in 7 states with more than $1.7 billion in annual sales processed through the Green Bits point-of-sale platform. Founded in 2014 by Founder and CEO Ben Curren, Green Bits has offices in San Jose, California, and Portland, Oregon. For more information on Green Bits in Maryland, visit www.greenbits.com/market-overview/maryland.
SOURCE Green Bits