Cashless Payment.

Our cashless payment solutions are safer than cash. We operate by bank-to-bank or ACH transfers, avoiding credit card providers which are slow to adapt to this emerging market. We offer almost zero risk of fraudulent transactions due to secured, encrypted, hosted transactions. And merchants love that we offer the ability to pass on processing fees to the consumer.

 
 

  • A high volume of cash sales could attract thieves. It may also invite the scrutiny of regulators looking to catch money launderers or other schemers associated with cash-heavy business.

  • Customer spending habits have been widely studied, and the data is clear – customers spend more when they use a card instead of cash. There’s just something about paying later that relaxes a buyer’s inhibitions.

  • This is a business in which clean record-keeping is essential. Electronic payments help prove compliance, make your work more efficient, and saves you the hassle of converting cash to pay your own bills.

 
 

Why is my business considered high risk?

Even if cannabis and CBD are legal in your state, murky federal regulations still classify marijuana as a prohibited controlled substance. Many banks refuse to get involved, often citing a high volume of chargebacks and fraud associated with this industry.

Can my account be shut down?

Cannabis/CBD merchants who use trendy mainstream e-commerce platforms can tell you — it’s not uncommon to find their accounts shut down and their funds tied up. Some of these providers tout their convenience in traditional retail commerce, but when it comes to controversial products such as cannabis and CBD, they’ve been known to freeze accounts without warning.

How can Greenlit help avoid this?

We use our experience and connections to find a bank that wants to work with your business. Our partners know this industry and trust our experience managing secure transactions. Like us, they’re watching out for the next obstacle to avoid so that you’re always up and running.


 

Creativity, Compliance, Transparency

You want people on your team who understand the principles of creativity, accuracy, and honesty. Let us explain how we cover those bases.

 
 

    • In a constantly changing industry, we’re always looking to make sure you stay on the cutting edge with creative solutions to maintain your business’s cash flow and legitimacy.

    • We offer a variety of independent card solutions, giving you the choice of what works best for your business model and customers.

    • We also work with multiple point of sales systems, designed for the cannabis/CBD industry, with features that keep your records in order to satisfy state requirements. We can help match you with the POS that makes sense for your business.

    • We partner with reputable financial institutions that know the laws and have experience in this high-risk industry.

    • Our ACH networks are governed under NACHA regulations, so retail cannabis sales are acceptable in all legal states. All of our payment methods are fully endorsed and approved by the major debit networks.

    • In the event of a federal law change regarding payment for cannabis purchases, our systems are easily adaptable to accept credit cards. When regulations loosen, you won’t miss a beat.

    • We pride ourselves on providing the best service without tricks or gimmicks. You will appreciate 100% transparency with full bank and processor disclosure.

    • Transactions are for the exact dollar amounts, so no rounding up. And no miscoding or other tricks that some processors use to hide the nature of purchases, which can land merchants in hot water.

    • Our agreement with you is open and honest too. You’ll know exactly what you’re paying. No hidden fees. No extra costs for applications and early termination.

 
 

Let's begin our journey together now.