Akerna Launches MJ Retail Point of Sale Solution

Rhea-AI Summary

Akerna (Nasdaq: KERN) has launched MJ Retail, a groundbreaking point-of-sale software designed for the cannabis industry. This innovation allows dispensaries using MJ Freeway to expedite customer checkouts on any device. As the cannabis market grows, particularly post-pandemic, MJ Retail aims to enhance the customer experience by providing a user-friendly yet feature-rich solution. Existing MJ Platform customers can upgrade for free, while CBD businesses can access MJ Retail at no cost when signing up for MJ Payments. Akerna's robust platform has tracked over $20 billion in cannabis sales since 2010.

Positive

• Launch of MJ Retail enhances customer checkout experience.
• MJ Retail connects seamlessly with existing MJ Freeway systems.
• Existing MJ Platform customers can upgrade to MJ Retail for free.
• MJ Retail is offered free to CBD businesses using Akerna's payment processing solution.

Negative

• None.

DENVER, Oct. 15, 2020 /PRNewswire/ -- Akerna (Nasdaq: KERN) ("Akerna" or the "Company"), a leading compliance technology provider and developer of the cannabis industry's first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform®), announced the launch of MJ Retail, a first-of-its-kind proprietary software technology designed to provide merchants and consumers with a flexible and mobile-friendly experience.

With MJ Retail, dispensaries using the Company's flagship solution, MJ Freeway, will be able to accelerate and streamline customer checkout, and transactions can be completed at any time throughout the retail experience on any device. 

Throughout the COVID-19 pandemic, the cannabis industry has proven to be increasingly resilient. As economies continue to reopen cannabis consumers are returning to dispensaries to take advantage of unique in-store experiences, making the need for streamlined customer checkouts even more important than ever before.

While cannabis businesses are often faced with the choice of using an underpowered but easy to use system or one that is comes fully featured but requires extensive training. MJ Retail represents the best of both worlds by offering a clean and lightweight POS solution that connects to the Akerna eco-system without sacrificing critical features.

"MJ Platform is integral to the success of our clients' business. Launching MJ Retail was the next logical step to support our growing number of clients who are focused on delivering an exceptional customer experience no matter how customers shop," said Jessica Billingsley, chief executive officer, Akerna.  "As the in-store experience continues to evolve MJ Retail has been designed to help our clients accelerate and streamline customer checkout, creating an optimal customer experience."

This tech-forward point of sale solution allows merchants to take their customers from shop to buy within minutes, either in-store or remotely from any mobile device or computer.  This includes the ability for merchants to integrate MJ Retail links into websites, QR code scans, and shopping cart check-outs.

For CBD businesses that sign up for Akerna's payment processing solution MJ Payments, MJ Retail will be made available to them for free. Existing MJ Platform customers will also be able to upgrade to MJ Retail at no cost.

For more information, please visit: https://info.mjplatform.com/mj-retail

About Akerna
Akerna (Nasdaq: KERN) is an enterprise software company focused on compliantly serving the cannabis, hemp, and CBD industry. Based in Denver, Colorado, the Company's mission is to create the world's most transparent and accountable supply chain by building a cannabis technology ecosystem connecting data points across the global cannabis supply chain from seed to sale to self. First launched in 2010, Akerna has tracked more than $20 billion in cannabis sales to date and is the first cannabis software company listed on Nasdaq.

Using connected data and information to propel the cannabis industry forward, Akerna empowers businesses, governments, patients, and consumers to make smart decisions. The Company's cornerstone technology, MJ Platform, the world's leading infrastructure as a service platform powers retailers, manufacturers, brands, distributors, and cultivators.  Akerna also offers a complete suite of professional consulting services and data analytics for businesses as well as solo sciences, MJ Freeway, Leaf Data Systems, Trellis, and Ample Organics.

For more information, visit https://www.akerna.com/

Forward-Looking Statements
Certain statements made in this release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking statements include but are not limited to statements regarding the potential benefits and experience of using MJ Retail and the ability of the MJ Platform team to help operators make decisions through analytics and reporting. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of significant known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside Akerna's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others that may affect actual results or outcomes, include (i) Akerna's ability to maintain relationships with customers and suppliers and retain its management and key employees, (ii) changes in applicable laws or regulations, (iii) changes in the market place due to the coronavirus pandemic or other market factors, (iv) and other risks and uncertainties disclosed from time to time in Akerna's filings with the U.S. Securities and Exchange Commission, including those under "Risk Factors" therein.  You are cautioned not to place undue reliance on forward-looking statements. All information herein speaks only as of the date hereof, in the case of information about Akerna, or the date of such information, in the case of information from persons other than Akerna. Akerna undertakes no duty to update or revise the information contained herein. Forecasts and estimates regarding Akerna's industry and end markets are based on sources believed to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.

 

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SOURCE Akerna

FAQ

What is the significance of Akerna's launch of MJ Retail for KERN shareholders?

The launch of MJ Retail positions Akerna to meet evolving market demands and enhance customer experiences, potentially leading to increased sales and shareholder value.

How does MJ Retail improve the customer experience in dispensaries?

MJ Retail accelerates and streamlines customer checkouts, enabling transactions on any device and enhancing the overall shopping experience.

Is MJ Retail available for free to current MJ Platform users?

Yes, existing MJ Platform customers can upgrade to MJ Retail at no cost.

What financial impact has Akerna had in the cannabis industry to date?

Akerna has tracked over $20 billion in cannabis sales since its establishment in 2010.