3 Questions with Adam Glogovsky, Aeropay Senior Director of Risk and Compliance
March 7, 2023
Adam started working at Aeropay in 2019 proving its concept in local Chicago neighborhoods. He now helps manage the day-to-day operations of the firm. He's implemented compliance procedures and streamlined internal processes, which has helped the company grow rapidly while maintaining a high level of customer satisfaction.
In his free time, Adam enjoys hiking, golfing, and attending indie concerts at the city's many music venues. He is also an active volunteer at a local food pantry and is passionate about world hunger. We sat down and interviewed Adam to get to know him better as a person and leader.
What does it mean to be compliant for cannabis payments?
Cannabis related businesses (CRBs) are constantly approached with non-compliant payment options that are wrapped up to appear the opposite. Federal scheduling has kept large financial services companies from interacting with CRBs. VISA issued a memo at the end of 2021 and the companies that were utilizing their networks were severed a year to the date. This left a lot of CRBs scrambling to find alternative digital payment options and begin to rely on cash again.
There are still a lot of companies obfuscating the true nature of the payments they process while it’s only a matter of time before additional card networks crack down. The only truly compliant solution besides cash is ACH. Companies that perform enhanced due diligence in line with the Cole Memo while operating within NACHA rules can be trusted by CRBs. True compliance is transparency from the top-down.
What sets Aeropay apart from our competitors?
Aeropay sets itself apart from competitors by offering robust features that cater to every type of transaction. We’ve listened to merchants and built much of our roadmap and integrations around their recommendations. In addition, Aeropay has become a recognizable brand this past year – we’re seeing more and more users transact in multiple places as the network expands. All in all, Aeropay has become the preferred payment option because of its flexibility and ease of use.
Why is Aeropay a payment solution that pays for itself?
For both sides of Aeropay’s platform, there are benefits realized that pay for themselves. Merchants enjoy increased order amounts and can expedite waiting lines for orders where payment was already queued. Delivery operators aim to be responsible for less cash where a digital payment solution like Aeropay is a no-brainer. Users aren’t charged fees by Aeropay unlike when they use a card or visit the ATM. Their transactions are all stored in one place while they enjoy access to their entire account balance.
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