Cannabis Ecommerce Payment Processing
Cannabis eCommerce Payment Processing with Paybotic
The retail cannabis industry has traditionally operated on a cash-only basis due to ongoing federal laws and regulations that make it difficult for marijuana businesses to process electronic payments.
But as the industry continues to evolve, dispensaries have access to new, innovative cannabis payment processing solutions that make it possible for customers to pay for products electronically with debit cards, cash advances, and even digital currencies.
As these payment solutions become more accessible, marijuana retailers are capitalizing on them by building eCommerce solutions that can expand their customer base and help increase sales.
To help businesses take advantage of this emerging trend, Paybotic offers fast, reliable, secure, and compliant cannabis eCommerce payment processing solutions to legal adult-use dispensaries in the United States.
eCommerce Benefits for Marijuana Retailers
Platforms for eCommerce allow dispensaries to expand their purchasing options by allowing customers to order products online for delivery, in-store pickup, or curbside pickup with a fast and easily verifiable transaction.
Solutions for eCommerce cannabis payment processing provide several great benefits for legal marijuana businesses, including:
- Cashless Payments: Cashless payments reduce risk for retailers as they do not have as much cash on hand, and customers do not have to worry about not having enough cash to cover their orders.
- Convenience: eCommerce platforms provide a convenient alternative for customers that do not want to wait in long lines or deal with in-store ATM fees.
- Revenue Growth: Customers are more likely to spend more when they are not limited to the cash they have on hand. Retailers also expand their consumer base by providing additional purchasing options.
- Enhanced Customer Experience: With eCommerce platforms, customers can complete purchases more quickly and browse items more easily, making for an improved customer experience.
- Health & Safety: Cashless payments allow businesses to abide by health and safety guidelines that have been established in response to COVID-19.
eCommerce Payment Solutions for Cannabis Retailers
Banks are often reluctant to work with dispensaries due to federal regulations that override state laws, and customers are often turned away by cash-only businesses. As such, cannabis businesses have long waited for cannabis payment processing solutions that allow them to remain compliant with regulations while meeting the demand for more convenient payment methods.
Paybotic helps establishments meet this need by providing cannabis eCommerce and digital currency payment processing solutions for modern marijuana businesses. Rather than purchasing cannabis products directly, customers' money is exchanged for an equivalent amount of a digital currency, which is then exchanged to U.S. dollars for the merchant. This allows merchants to process payments online without violating federal regulations and maintain a secure record of all transactions.
Our reliable cannabis payment processing solutions can run alongside your existing POS systems to create a seamless experience for both employees and customers.
Why Choose Paybotic?
As many financial institutions and payment processing companies are still averse to partnering with cannabis businesses, it can be difficult for retailers to obtain the tools they need to set their eCommerce stores up for success.
Paybotic helps by providing compliant, fast, and secure cannabis payment process solutions that allow retailers to easily process electronic payments for eCommerce orders.
We provide dedicated and tailored solutions for businesses in the cannabis industry while also ensuring compliance. Paybotic does this through partnering with banks that understand the underwriting process for cannabis products, and through continuous monitoring of the shifting legal landscape for cannabis sales.
At Paybotic, we have a long history of working with high-risk merchants, and we work closely with retailers in the cannabis industry to help them process electronic payments in the most cost-effective manner possible. Our goal is to provide retailers with convenient solutions to address the payment needs of merchants in this constantly changing industry.
We work with a wide range of domestic and international partners to provide solutions suitable for several types of legal high-risk businesses. From credit card processing and ACH processing to check services and point of banking, we provide custom payment solutions to suit your unique needs.
Contact us today to learn about our solutions and how we can help you grow your business.
Frequently Asked Questions
Below, we offer answers to some of our most frequently asked questions:
At Paybotic, we want to make it as easy as possible for retailers and other businesses to get started with our electronic payment processing solutions. As such, we aim to make the application and approval process as fast as possible. We are typically able to get clients set up within 2–3 business days.
Yes, we are constantly working to stay ahead of changing state and federal guidelines to ensure our payment processing solutions remain compliant with industry regulations.
Beyond our cannabis eCommerce and digital currency payment solutions, we offer solutions such as:
- Merchant Cash Advances
- eCheck/ACH Processing
- PIN Debit Processing
- Loans for Cannabis Businesses
Read more about our varying cannabis payment processing solutions, or contact us today for more information.
