Ever get all the way to the weed store and forget to bring cash? Ever have to pay ridiculous ATM fees for a machine simply GIVING YOU YOUR OWN MONEY? That whole awkward and frustrating situation can now be washed away by your local pot shop utilizing a payment platform called POSaBIT.
https://www.youtube.com/watch?v=V1HJZYGJZM8
What is POSaBIT?
POSaBIT is a trusted payment platform for state-licensed retail stores to accept debit or credit cards. They provide an easy way for customers to buy cryptocurrency for in-store purchases, in short—BUY YOUR WEED WITH YOUR DEBIT OR CREDIT CARD, NO CASH REQUIRED.
Most major card brands allow transactions for cryptocurrency, which allows your transaction to remain completely separate from anything related to weed. POSaBIT settles with their merchants in U.S. dollars. They are even a registered Money Services Business and have Money Transmitter Licenses in all states that require them.
How Does POSaBIT Work?
1) A customer selects cryptocurrency as the payment method and accepts terms of sale.
2) Customer’s ID is scanned, then their card swiped for the entered amount.
3) The customer can immediately spend their cryptocurrency in-store, or leave with a loaded QR code wallet.
4) POSaBIT deposits the USD funds into your bank via standard ACH payments.
How Can POSaBIT Help YOUR Business?
From their statistics, the average transaction is more than double a cash purchase, transactions also average 7 percent tips, which is five times the average cash tip, and one of every six POSaBIT customers make a repeat purchase within the next five days! These statistics alone should AT LEAST encourage more businesses to look into the future of retail-cannabis purchasing.
Dave, owner of Herbs House out in Ballard proudly boasted that “POSaBIT accounts for over 70% of our sales. Our customer base has totally embraced the opportunity to use their cards at the point of sale. Our budtenders are upselling more effectively, and we are seeing a significant increase in our average transaction size.”
This year, POSaBIT will even be expanding into Oregon, California, Maine, and Massachusetts. With millions of dollars being processed monthly through their partner merchants in Washington, Colorado, and Nevada they must be doing something right.
Head over to their website to learn more about which local dispensaries are waking to the future!
