Cashless cannabis payments aren’t just the future, they’re crucial for dispensary success right now.
Options like ACH bank transfers, point of banking, and even cryptocurrency payments are quickly growing in popularity.
Your job is to make sure you have multiple payment options available. Then you need to help your customers understand how those options are better than paying with cash.
The process is actually easier than it may seem because cashless options are typically a better option for both cannabis customers and dispensaries.
Below are 5 of the best ways to increase customer adoption of cashless payments at your cannabis dispensary.
QR codes became popular during the pandemic, and it looks like they’re going to stay popular for the foreseeable future. A study from The Drum/YouGov found that 75% of US respondents say they plan on using QR codes going forward.
To entice customers to download an app to pay (ACH transfers use this method to transfer funds from a bank account), then you need to display QR codes for them to scan.
First, ask your payment partner to provide you with these marketing materials. If they do not, then you can use a free QR code generator to create your code.
Then, print the QR code (you can customize the printed page to be more enticing to customers) and display it in the following places:
QR codes will play an important role in the future, especially for cannabis payments. Stay competitive and satisfy customers by allowing them to scan and pay.
For your customers to notice that you have new payment options, your website needs to show them, especially if you’re offering online payments for ecommerce.
Try some of these options to show online cannabis shoppers new ways to pay:
You may not have to include all of the above information on your site, but the more you’re able to provide, the more comfortable your customers will feel with your cashless payment system.
Customers should visually notice that you have additional payment options at your dispensary.
There’s an old advertising rule that consumers need to be exposed to an ad 7 times before they notice it. In this case, that’s probably overkill — but you still need to nudge consumers in the right direction to increase non-cash payment adoption.
Here are some great ways to advertise your payment solution in-store:
Construct a digital marketing campaign to target both customers and prospective shoppers at your dispensary. The primary focus of the campaign should be to showcase your new cashless cannabis payment solution(s).
The best digital marketing strategies are done over multiple channels. Some of ideal options for a cannabis company to use are:
Ideally, your payment provider will help you with assets to post to social as well as some copy to use across your channels. If this is the case, you’re one step closer to higher customer adoption!
Budtenders are the face of your cannabis business. Their opinion will quickly convince customers on the fence about your digital payment options — if they're trained properly.
In order to increase adoption of your new payment method, make sure your staff are experts on the solution.
Your staff should be familiar with the following:
Many payment companies provide training for your dispensary staff. Check with them to find out if this is an option.
You don’t have to change your entire strategy at once to see results in digital payment adoption. Simply work your way down the list and continually advocate for the process.
The great thing about using digital payments for cannabis transactions at your dispensary is they’re going to improve customer experience.
This will lead your customers to spread the word to friends, colleagues, family, etc. about the dispensary that doesn’t make you pull cash out of an ATM for every transaction.
Keep in mind that there may be regulatory or legal requirements around advertising, so research before implementing anything.
As financial services improve for cannabis businesses, potentially allowing card payments at the point of sale checkout, payment processors and businesses alike will see a boost in adoption.
Interested in accepting cashless, contactless payments at your dispensary? Book a demo with Aeropay today!
We’re happy to show you our full payments solution and put the best bank-to-bank transfers to work for your business.