Cannabis

Committed to the community

We can provide credit, Cashless ATM, and ACH solutions for the cannabis industry. The industry is constantly changing. Our commitment never will. No matter what the future holds, we will be there for the cannabis community.

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Cannabis payment processing

Dispensary

Credit solutions

As the federal government still has cannabis classified as a Schedule 1 substance, you cannot directly use credit cards to purchase cannabis. However, two types of solutions provide workarounds that will allow your customers to use their credit cards. The first is a P2P solution, and the second is a crypto-credit solution. In either case, your customers connect their credit cards via an app and can then use the app to purchase products from your store. Think of it like a Venmo or Cash App for cannabis.

Cashless ATMS

Cashless ATMs are also known as Point-of-Banking systems and are incorrectly called PIN Debit systems. They allow customers to use their debit cards to mimic a cash withdrawal from their bank account. Usually, the transaction amount is rounded up to the nearest $5, $10, or even $20 increment. The difference is returned as change. For instance, a transaction amount of $62 would be rounded up to $65, and $3 would be given back to the customer. Some systems allow the actual transaction amount to be charged directly, eliminating the need for rounding and change. The best feature for merchants is the flat fee. They can include rebates for the merchant. Many budtenders and customers are already familiar with these systems. Mobile terminals are available, which makes them perfect for pop-ups and events.

Cashless ATMS

PIN Debit

PIN Debit systems are only similar to Cashless ATMs because they use debit cards. That is where their similarities end. They always charge the customer the exact transaction amount. There is no rounding or giving change. The transaction is just like a debit card transaction in any other business. They feature a mix of a percentage rate and a flat fee, just like interchange rates. They were the most compliant method for processing cannabis payments. Unfortunately, Mastercard led a crackdown in 2023, forcing processors and merchants to seek less compliant methods.

ACH

Automated Clearing House (ACH) payments allow customers to pay for their cannabis products directly with their bank accounts. A typical requirement of a state's cannabis market is that cannabis products must be paid for before they can leave the store. That requirement can limit the methods available to your customers who wish to have their products delivered to them. They cannot use mobile debit card readers. ACH transfers allow customers to pay for delivery while you remain 100% compliant.

Why does cannabis require specialized payment processing solutions?