There is currently a compliant cannabis payment system available.
When Visa published a statement headlined "Cashless ATM" and "Misuse of ATM Transactions Prohibited," the cannabis business newswire exploded.
“Cashless ATMs are primarily marketed to merchant types that are unable to obtain payment services — whether due to the Visa Rules, the fuels of other networks, or legal/regulatory prohibitions. Therefore, supporting this scheme affects the integrity of VisaNet and the Plus network, as well as the Visa payment system”." Visa added in the announcement.
This has influenced the cannabis industry, as many firms have turned to Cashless ATMs to alternative traditional retail payment methods.
So, what's the other option? A payments solution is now available, and it is assisting an increasing number of businesses in accepting compliant, cashless payments.
Sprout Processing is the cannabis industry's compliant payment option.
Cannabis businesses can accept compliant, in store or cashless payments online and in-store with Sprout Processing. Customers can scan can pay in-store or from there phone direcly.
What is the procedure for using Sprout Processing?
Sprout Processing is a payment solution that has gone by various names in the cannabis business. Our solutiuon is perfect for in-store, e-commerce, or delivery services.
What makes this payment method legal in the cannabis industry?
There are three parts to the answer. Sprout Processing has regulatory approval in every state where it does business, does due diligence such as bank and license checks, and is backed by a trustworthy bank.
Schedule a demo now to learn more about how Sprout Processing can help your cannabis business online and in-store.