Cannabis & Marijuana Banking Solutions

Over the decades that we have been partnering with businesses in the hospitality industry, we have learned a lot from our clients. We draw on our experience in complex vending scenarios to advise our cannabis vendor clients. We enjoy the research process and have found some custom cannabis banking solutions that are working very well in the field at this point. 

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<h1>Cannabis & Marijuana Banking Solutions</h1>

<p>Over the decades that we have been...

Why Do We Love Working with Cannabis Vendors?

Like you, we love being at the forefront of innovation. Cannabis operators have a unique set of obstacles that need to be removed in order to grow their businesses. We are up to speed on what the marijuana banking challenges look like and which solutions are malleable for today and the changes that lie ahead.

We are eager to share our expertise with you, and you can reach us by filling out our contact form. Read on to find out more about how we partner with clients, and how we troubleshoot these important business decisions.

How We Partner with Clients

What Can a Client of Westmoreland Payment Services Expect in Terms of Service?

WPS prides itself on a level of customer service that is not commonly found in the marijuana banking marketplace. Some companies might claim to have insider knowledge when it comes to deciding on software and hardware for payments, but after decades of experience and long term clients, we know that industry know-how is not enough. We understand that being a real and consistent partner for your business is essential to everyone’s success. We support not only the account set-up procedure, but also routine consulting to ensure a continued quality experience.

Examples of WPS’ High Level of Interface with Clients:

  • Initial Business Analytics Review
  • Ordering and Installation of Chosen Marijuana Banking Hardware
  • Training Employees on the Hardware
  • Training Employees on How to Educate Customers about their Payment Choices, Given Federal Regulation Restrictions
  • Quarterly Conference Calls

Cutting Edge Knowledge

What Is the Latest with Cashless ATM Terminals?
WPS has been unusually impressed by the N5 Terminal, which we recommend for our cannabis retailers. It is becoming increasingly popular because of its speed, ease of use, Wi-Fi, security and mobile technology.

How We Help Clients Decide on POS Systems: Since each state has different approved vendors, we have worked with cannabis vendors nationwide to find the systems that work for each of our customers. Depending on the size and type of operation, WPS can make suggestions on what type of POS will run the most efficient operation with the best pricing.

How We Help Clients Decide on Security Solutions: Most of our cyber coverage for other industries focuses on preventing credit card fraud, because if property is hacked, businesses are sometimes on the hook for up to 5% of their annual credit card volume. In the cannabis sector, the beauty of these terminals is that they are pin-based terminals. There are almost never chargebacks because the customer has to use their personal pin number to confirm and complete a transaction. Since the only time chargebacks come up are when the merchant overcharges and they don't catch it right away, we can help our cannabis vendors focus their security solutions on data protection.

The cannabis industry has unique requirements for accepting payments at dispensaries or online. WPS provides options for cashless and NFC payment acceptance, which allows businesses in the cannabis industry to operate efficiently and safely.

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