Frequently Asked Questions For FIs Can our cannabis banking clients accept CanPay?Yes. If you participate in the Closed-Banking Feedback Loop and become an approved CanPay financial institution, your retailer clients can apply for a CanPay merchant account. What are the benefits?CanPay converts cash transactions to electronic transactions, removing cash from the system, and it is a quicker and more familiar way for consumers to pay for their purchases. Does CanPay take over my compliance program?No. CanPay is an electronic payments provider for emerging markets. Can you help us set up a compliant cannabis banking program?While we do not manage a financial institutionâ€™s compliance program, we can assist you in building your program through introductions to institutions already banking the industry.