Safe Harbor and PayQwick Bring B2B and B2C Electronic Payments to Colorado
ARVADA, Colo. – Safe Harbor Private Banking, the leading compliance-based banking program for cannabis businesses, and PayQwick, the leader in seed-to-sale electronic payments for the legal cannabis industry, announced their partnership to bring electronic business-to-business (B2B) payments to Colorado.
Safe Harbor Private Banking banks more than $1 billion in compliance-based cannabis funds annually in Colorado, and CEO Sundie Seefried is the clear thought leader in providing compliance-based financial services to the cannabis industry. Seefried spearheaded a pioneering program to offer banking services to cannabis businesses and has written a guidebook to help other financial institutions. Her advice: “document everything, work with reputable partners and heed the law.”
“I was concerned about the risks a cash-based industry poses to our communities,” said Seefried. “Working with companies like PayQwick allows businesses to reduce the use of cash and the risks associated with it.”
PayQwick’s electronic payment hub empowers legal cannabis businesses to pay each other electronically, ensuring cannabis businesses are getting paid safely and efficiently upon delivery. Additionally, PayQwick’s eCommerce solution enables cultivators, manufacturers and distributors to receive payment directly on their websites. PayQwick also allow cannabis retailers, dispensaries and delivery services to accept credit/debit cards.
“Sundie Seefried and Safe Harbor Services are the obvious leaders when it comes to compliance and banking in the cannabis industry. Our partnership makes electronic payments a reality, reducing opportunity for violent crime and money laundering,” said Ken Berke, PayQwick’s co-founder and president.
PayQwick is currently licensed to operate in Washington, Oregon, Alaska and Arizona, and has begun operations in Colorado. PayQwick is expanding into California, Nevada, and Michigan in 2018.
The PayQwick app for cannabis businesses can be downloaded in the Apple App and Google Play stores.