AeroPay unveils compliant digital payments for Legal Cannabis businesses
By Pavithra R
AeroPay, a disruptive FinTech reimagining the way money is moved in exchange for goods and services, has announced the launch of a suite of compliant digital payments solutions for state-legal cannabis businesses throughout the United States.
AeroPay serves businesses in various industries ranging from nonprofits to restaurants and retail to e-commerce sites. The suite of solutions for cannabis businesses marks another evolution in the offerings for the FinTech company.
“Cannabis businesses have long been underserved by the current payments landscape and we saw an opportunity to help them by leveraging AeroPay’s existing technology. What makes us unique is we are a traditional financial technology company that also services cannabis businesses. What’s even more exciting is our technology will allow us to partner and integrate with other ancillary cannabis companies to create even further operational efficiencies for the businesses that take advantage of our solutions,” said Daniel Muller, CEO & Founder of AeroPay.
The AeroPay suite of solutions enables bank-to-bank digital payments through ‘smart bank transfers’ between cannabis businesses and their customers (C2B) or other businesses (B2B). The technology handles both in-person and online for environments through the entire cannabis supply chain, from grow ops and suppliers to retail dispensaries and delivery drivers.
The firm enables dispensary owners to offer a convenient and contactless digital payment option to their customers. AeroPay aims to facilitate seamless transactions at the point-of-sale (POS) or upon delivery and reduce the use of cash.
“Cannabis businesses and their customers have been forced to rely almost exclusively on cash for too long. Cash comes with a ton of issues – high cost of management, risk of employee theft, difficulties tracking and reporting payments, and an often massive inconvenience for consumers. We are committed to providing a safer, more efficient environment for cannabis businesses to operate in,” said Ryan Coffey, Director of Business Development at AeroPay.
Founded in 2017, Aeropay offers patented payments process that enables ‘smart bank transfers’ between businesses and their customers (C2B) or other businesses (B2B). Its payments solutions are designed to provide businesses with lower costs, faster settlement times, and enhanced security.
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