Legal Status: Accepting ACH & Bank Transfers at Cannabis Dispensaries

Using ACH and digital payment platforms, cannabis owners can leverage financial technology (FinTech) to help protect themselves from legal challenges, minimize costs, and increase operating efficiency. These payment options offer various unique features, such as full integration, prepay, pre-authorization, and easy voiding/refunding. Both consumers and retailers prefer digital cannabis payment options, leading to increased market share for these payment platforms within the industry.

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Undoubtedly, digital payments and cannabis continue to go hand in hand. As time goes on and the industry continues to grow, the use of digital payments will become even more widespread.

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But why have digital payment solutions, like Aeropay, become so popular?

Cash payments can be problematic for cannabis companies. Cash shortages, processing costs, and security issues are just a few of the common issues that cash can create. It is also impossible to accept cash for online orders or for customers to prepay with cash when they place an order for pickup. Digital payment solutions help businesses avoid these common issues, operate more efficiently, and keep better track of payments.

A few businesses remain hesitant to switch to digital payments because they worry about getting paid. Through advances in FinTech, payment timelines are significantly accelerated through smart bank to bank transfers. Today, Aeropay offers next-day or even same-day deposits.

Besides providing customer benefits at the physical register, a digital payment system also makes it easier to manage other aspects of the customer experience, such as Buy Online Pickup in Store (BOPIS), delivery, and more.

The cannabis industry has a lot to consider, and businesses are becoming savvier regarding their entire cannabis technology ecosystem, including payments.

There are never chargebacks, businesses always receive funds.