eCheck/ACH
How Paybotic Can Help Dispensaries with eCheck and ACH Payment Solutions
Paybotic offers a work-around for the restrictions on electronic payment cannabis purchases by serving as an intermediary between merchants and financial institutions. By partnering with our experienced professionals, you can break away from a cash-only payment system and become a dispensary approved for ACH and other digital payments.
We offer a full range of high-risk payment processing services at extremely affordable rates. This will allow you to process checks electronically, credit cards, and ACH transactions both in-store and online.
Get StartedDangers of Operating a Cash-Only Cannabis Business
Many merchants in the legal cannabis market have sought to circumvent electronic payment restrictions by doing business on a "cash only" basis. While a feasible option, operating on cash only payments will have several major drawbacks and substantially hinder the growth of your business.
Additional Security Risk
Operating as a cash-only cannabis dispensary creates a substantial amount of risk on several levels. Having huge amounts of cash on-hand makes your business a prime target for criminal activity, requiring you to invest in substantial security measures such as metal detectors, reinforced glass, and alarm systems.
A business that operates primarily with cash transactions faces internal security concerns as well. To prevent this, you must implement a thorough system of checks and balances to monitor staff members. You will need cash counting machines, registers, and additional equipment to ensure completely accurate accounting.
Difficult to Track
Any business venture is required to provide governing entities with detailed reports on profits, payroll, and other expenses. When partnering with a full-suite services provider like Paybotic, all of these payment processing responsibilities can be handled electronically by our team.
Operating a cash-only dispensary makes accurate tracking and reporting much more difficult and time-consuming. This results in wasted resources and opens your business up to serious liability. Even accidental misreporting profits can result in major fines that will significantly impact your business.
Benefits of Accepting eChecks for Cannabis Purchases
Paybotic can streamline the way you do business with our eCheck payment solution service. This is a great alternative to traditional credit card payment and cash-only options. Even if you have difficulty obtaining a merchant account, you can still be a great fit for our eCheck program.
We provide fast approvals, usually within 48 hours. Once approved, our experts will get to work setting up your POS, or virtual terminal system. This will allow you to broaden your customer base and streamline the purchasing process. You will benefit from reduced transaction fees, resulting in more profits and additional funds to grow your business.
Our eCheck program will clear and settle transactions fast, with many purchases processing the same day. Do not compromise the long-term success of your business by engaging in risky cash transactions.
With our advanced technology, your dispensary staff will be able to quickly and efficiently handle transactions at checkout. This will simplify the checkout process, allowing a fewer number of employees to serve a larger number of customers.
Contact Us TodayeCheck and ACH Solutions for High-Risk Industries
Paybotic proudly serves a wide range of high-risk businesses that are often underserved by traditional financial institutions. Our eCheck/ACH services are available to businesses across all industries — including tobacco, firearms, alcohol, vape, e-cigarettes, oil, kratom, drug paraphernalia, and cannabis merchants among almost all other industries.
Get eCheck and ACH solutions for your cannabis company today. Contact Paybotic online or call at 844-420-4729.
Have Questions? Talk to Us!Cannabis & CBD
Dispensaries, delivery services, and eCommerce
Tobacco & Vape
Tobacco, e-cigarettes, and vape products
Firearms & Alcohol
Licensed firearms dealers and alcohol merchants
Other High-Risk
Oil, kratom, paraphernalia & more
Frequently Asked Questions
ACH stands for automated clearing house which is a transfer of funds from one electronic bank account to another. An eCheck functions like a paper check, except that the paperless process and a speedier transfer time makes eChecks a more practical option than the traditional paper check procedure. This is a good option for dispensaries handling high value and volume of transactions. eChecks are a good choice for dispensaries paying costly credit card processing fees.
Paybotic has a secure gateway that allows businesses to create and process Electronic Checks, send Email Invoices, and Accept Payments Online (or integrate into your current systems via API). Approvals usually are completed within 48 hours and Paybotic will set up a virtual point of sale system for your business.
If you have questions about eCheck/ACH solutions, our team of experts will help you with your questions. To learn more, fill out a contact form or call us at 844.471.2078. The Paybotic team would be happy to chat about solutions to support your cannabis dispensary success!
eCheck processing offers many benefits, such as the potential to handle high volume and amount of transactions. eCheck processing also offers lower fees than credit card processing, and sometimes eCheck fees can be as much as 50% less than credit card processing fees. This solution provides access for companies considered high risk businesses.
Some other beneficial functions of our eCheck/ACH solution include the capability to send email invoices, integration with online shopping carts, same or next day settlement, and more. Systems involve federally-insured and compliant banks and no reserve is required.
If you have questions about eChecks/ACH payments, our team of experts can help you with your questions. To learn more, fill out a contact form or call us at 844.471.2078. The Paybotic team would be happy to chat about solutions to support your cannabis dispensary success!
An eCheck is a type of ACH transaction. ACH is the electronic network that processes these types of transactions, while an eCheck is the consumer-facing product that moves funds through the ACH network. Both involve the secure transfer of funds between bank accounts, but eChecks specifically replicate the familiar paper check experience in a digital format with faster processing times.
The importance of understanding which transactions are important to allow by smaller dispensaries is important. If you have questions, fill out a contact form or call us at 844.471.2078.
