Partnership to help merchants in the cannabis industry streamline payment processing, increase revenue collection channels, and minimize costs.
December 5, 2017 (Denver) – Flowhub, the fastest growing compliance and business management software company in the cannabis industry, will move nearly $1 Billion in cash through its point-of-sale registers by the end of 2017, announced today a strategic partnership with CannaPay, a leading payment solution provider. Realizing the need and demand for a stable and cost-effective cashless payment solution for existing and future customers, the two companies have joined to help solve this widespread complex problem within the Cannabis industry. With today’s announcement, Flowhub customers will now have access to reliable resources on compliant payment processing solutions that are tailored to their payment needs and built to increase revenues.
“We believe merchants in this space deserve to utilize actionable payment insights combined with their existing decision tools and metrics to maximize value for their business, just like any other traditional industry,” says Max Miller, President of CannaPay. “We help merchants implement the right payment solutions, assist them in taking appropriate measures and actions to accommodate their payment needs, while also remaining compliant, protected, and cost-effective. With Flowhub, a leader in the space, we felt there was no better technology provider with whom to partner.”
Flowhub merchants looking for a payment processing solution are now able to leverage both CannaPay and Flowhub support teams for assistance in on-boarding and the pre and post implementation processes. Dispensary merchants can accept cashless payments simply by swiping customers’ cards on a physical terminal, and the payment status input can be recorded in the Flowhub Retail POS instantly, reducing the time it takes to complete an order as compared to cash payments. Additionally, retailers typically find customer cart sizes increase when they are given an easier and more flexible way to pay. Merchants also receive full access to an online reporting portal, which simplifies the reconciliation process between POS and payment tender records.
“We are delighted to be working with another top-tier company such as CannaPay to allow more retailers an opportunity to leverage their cashless payment solutions,” says Kyle Sherman, CEO of Flowhub. “As a compliance-based POS software company, we understand the need and importance of having efficient payment processing solutions in place. With this strategic partnership, I’m pleased that Flowhub clients throughout the country will now have a trustworthy source for payment-solution consulting and implementation. The payment processing solution that CannaPay offers helps streamline the sales ordering process, the reporting and reconciliation process, increases average transaction sizes, and eliminates cash from stores.”
The transition to a fully integrated system between the POS platform and payment platform has been underway for nearly a year. The goal is to further improve the transaction processing experience for both merchants and customers, ensure transactional data is stored and transmitted securely, all the while remaining compliant, sustainable, operationally efficient, and cost-effective.
“Cannabis business operators have enough challenges on their hands, we want customer payments and tracking to be streamlined and compliant,” says Kyle Sherman.
Dispensary operators who are interested in implementing this solution are encouraged to visit www.flowhub.com for more information.