From the customers’ point of view, they can use any debit card or PIN-enabled credit card to pay. They just need to enter a PIN to authorize the transaction. The customers pay a small convenient fee for this transaction, just like an out-of-network ATM transaction.
From your point of view, the money is transferred directly to your bank account, and you do not pay any processing fee. You can also earn income from this processing fee. Your budtenders will also benefit from the increased tips from customers’ change given on each transaction.
Our Cannabis Card Processing solution enables cannabis and cannabis-related businesses to significantly reduce cash transactions.
By going cashless, your business can benefit from:
Here are answers to some of our most frequently asked questions regarding Paybotic’s Cannabis Card Processing:
Yes. Compliance is our top priority and when you partner with us, you can have the peace of mind knowing that we are constantly working to stay up to date with state and federal regulations to ensure our payment solutions always remain compliant.
Because cannabis sales are not legal on the federal level. Most payment processors and financial institutions, including banks, lenders, insurers, are not willing to service cannabis businesses. There are workaround solutions being offered on the market, but those solutions come and go within a few months due to noncompliance. We have been around for over 10 years and have seen them all. Our Cannabis Card Processing solution has endured for 10 years.
Our application process is quick and simple. Approval is within the same day of submission of full application package. You will only need a valid cannabis business license, a valid government photo ID and a working bank account to get started.
You do not pay any processing fee per transaction, which is extremely beneficial to your businesses because you cannot claim operating expenses in your tax deduction and processing fees take up a significant amount. You pay a one-time onboarding cost and a monthly fee, which is lower than any traditional card processing solutions in the market.
You will receive your settlement as early as next business day directly deposited to your bank account.
Our Cannabis Card Processing solution can work independently from the POS system. We also integrate with many POS systems to provide you with a seamless operation experience.