CanPay, which calls itself the first legitimate debit payment product for the cannabis industry, has announced its availability to dispensary owners, customers and patients in Oregon's recreational and medical cannabis marketplaces, according to a press release.

Dispensaries in the state are now able to offer this alternative to the current cash-only system for both in-store and delivery purchases. Initially, CanPay will be available at seven dispensaries across Portland, Oregon City, and Eugene.

Patients and consumers can download the CanPay app by visiting CanPayApp.com to set up their account, which links directly with their existing checking account. Each time the user signs into CanPay on their mobile device, a secure, single-use payment PIN is generated that includes no personal identifiable information and is scanned at the time of purchase by the dispensary's point of sale device, according to the release. Funds are electronically transferred funds directly from the user's checking account to the retailer's bank account.

"Oregon is another pioneer in the wave of legalization, which makes it a terrific market for us to introduce a more secure and convenient way to pay for cannabis," Dustin Eide, CanPay CEO, said in a statement. "In 2016, Oregon dispensaries sold more than $241 million worth of cannabis products. When operating in a cash-only model, the risk to consumers, store employees, and owners increases exponentially. Introducing CanPay is a step to reduce risk and normalize the payment experience in the cannabis industry so it's the same as shopping everywhere else."