Tamala McBath of the National Cannabis Risk Management Association sits down with Paybotic’s Mahlon James as he offers insight regarding banking, cash handling, and payment processing in the marijuana industry.
In the roughly 30-minute session of the 19th episode of the podcast, host Tamala McBath speaks at length with James about a variety of issues and topics surrounding finances and payment processing in the cannabis industry. The pair begin with an overview of how Paybotic and other companies within the cannabis industry and related sectors withstood the pandemic before diving into other discussion points.
James notes, in particular, that marijuana businesses receiving distinction as an essential service early on was crucial towards many of the players within the industry sustaining their businesses. Paybotic particularly was able to help merchants navigate distancing protocols by offering wireless terminals that granted the ability for customers to perform a curbside pickup without significant risk of potential spread.
“We have a book of about 1,200 customers… we essentially reached out to all of them saying we have these terminals that are wireless that have a 4G SIM card inserted,” noted James. “You can actually walk to the curb and try to do as much contactless business as possible.”
The quality and variety of Paybotic’s payment processing technology allowed them to not only survive amid a fragile business climate, but thrive alongside their clients as the year unfolded. The commitment to innovative technology in the cannabis space helps Paybotic remain a top choice in a competitive market for high-risk payment processors—something James talks about further in the podcast.
The NCRMA Chronic Risk Podcast aims to educate listeners on a variety of topics related to the cannabis industry by seeking insight from its exclusive service providers such as Paybotic. The podcast is available for free on the NCRMA website, as well as through CannabisRadio.com and Spreaker.
Paybotic is one of the largest payment processing solution providers for high-risk merchants in the United States. The company specializes in helping cannabis-related businesses process customer payments and maintain compliance amid evolving regulation.
As innovators in the FinTech space, the point of banking was an obvious solution to implement across the cannabis industry. Over the last near-decade, Paybotic stands out as industry-leaders in medical and recreational marijuana payment processing.
Cannabis business owners or decision makers with interest in one or several of Paybotic’s full suite of industry payment processing services can call 844-420-4729 for more information. Those interested can also visit the Paybotic website to speak with a live agent.