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How to Pay with Aeropay

Payments
June 28, 2022
Rachel Ludwig

If your favorite dispensary offers contactless payments with Aeropay, all you need to do is simply scan a QR code at checkout, connect to your bank account, and pay.  This convenient payment solution is free for customers, secure and requires no downloads or sensitive information. Check out our video on how to pay with Aeropay here.

What is Aeropay?

Aeropay is a financial technology company that helps move money securely via bank-to-bank (ACH) transfers –enabling stores to accept cashless and contactless payments while giving shoppers the freedom to spend. By using this payment platform, customers can make purchases at local dispensaries and have a seamless checkout experience. Fully transparent cannabis payments are powered by Aeropay’s partnership with Safe Harbor, the leading compliance-based banking program for cannabis businesses affiliated with Partner Colorado Credit Union. All your payments will be backed by a secure financial institution. Safe Harbor has gone the extra mile to work with the federal framework to allow cannabis banking –compliance measures that haven’t been adopted by other large payment networks and credit card companies. 

How to use Aeropay

Aeropay’s streamlined onboarding process makes paying simple and convenient. Setting up an account with Aeropay is immediate and safe; simply link your bank to your account –no social security numbers or other sensitive information is required. In a matter of a few steps, your purchase will be made without wasting time and money at the ATM. Aeropay also takes extensive measures to protect your data through its bank-level encryption, fraud prevention and risk reduction features. There is also a multi-factor authentication (MFA) option to make your account even more secure.

After your profile is created, using Aeropay to make your purchase is effortless. At checkout, just scan a QR code that immediately takes you to your linked Aeropay account. The platform gives a clear snapshot of the products being bought and where - a luxury that other cannabis payment processors aren’t able to offer. Plus, Aeropay can be used for online purchases and deliveries.

Why use Aeropay?

Cannabis may be one of the few industries that still cannot accept credit cards, but that doesn’t mean that everyday customers still have to rely on cash. Modern dispensaries recognize the importance of offering sophisticated products and services that cater to shoppers' preferences and habits. 

During the pandemic, digital payments became the norm –with 50% of consumers reporting they would not shop at a store without contactless payment methods. Enabled with sophisticated and secure technology, with compliance at its core, Aeropay is a forward-thinking payment solution that allows cannabis retailers to finally offer mainstream customer experiences. 

During previous purchases, you might have been able to use your debit card at a dispensary. These payments are known as “cashless ATM” purchases and are actually more complicated than they seem. If you were to take a closer look at your statement, you’ll notice the name of the dispensary is missing. This method is called “masking,” and it prevents banks from recognizing a cannabis transaction in your bank account. While this method is more convenient than paying with cash, it is not a legal long-term solution and can add unnecessary ATM or processing fees to your order total. 

ACH payments are a lot safer for you and the bank. Any business that is known publicly to have large amounts of cash on hand is vulnerable to theft. Dispensaries are historically known to only be able to accept cash payments and therefore have to put a lot of capital into keeping the storefront safe. These costs ultimately get passed along to you as the customer. With bank-to-bank transfers, payments are instant, secure and compliant. 

Customer success is at the heart of Aeropay. If any issues pop up, a dedicated team of customer support personnel is able to provide assistance.

Author

Rachel Ludwig

Digital Marketing Manager
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