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. Visa alsostated "Misuse of cashless ATMs “will be subject to non-compliance assessments and/or penalties”.
Sprout Processing is the cannabis industry's compliant payment option.
Cannabis businesses can compliantly process both credit and debit, in store or cashless payments online and in-store with Sprout Processing. Customers can scan can pay in-store or from there phone directly. Our solution is true and tested- currently being used by some of the biggest retailers in the nation.
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 solutions is perfect for in-store, e-commerce, or delivery services. We have partnered with every entity needed in order to be able to process a compliant solution for th cannabis industry.
Schedule a demo now to learn more about how Sprout Processing can help your cannabis business online and in-store.