By the end of 2022, the cannabis industry is estimated to reach $32 billion in annual sales, a 20% increase of the year before. Any business that’s operating in an expanding market wants to grow with the industry, but as a dispensary, that feat can be tricky. Federal laws restrict dispensaries' access to traditional practices such as advertising, banking, and payment processors – a few of the baseline methods that help businesses adapt, develop and stand out.
However, Aeropay presents an opportunity for cannabis businesses to stand out. By providing dispensaries with a compliant in-store and online payment platform, Aeropay is a key component of the ideal tech stack for cannabis businesses while keeping them at the forefront of growth. Via bank-to-bank ACH payment processing, dispensaries are able to accept contactless cannabis payments that are fully compliant with state and federal regulations.
A partner in payments should be able to seamlessly fit into any retailer’s ecosystem instead of forcing a retailer to fit theirs – and Aeropay doesn’t just provide smooth integration. Partnering with Aeropay offers dispensaries customization, security and service.
Your cannabis payments solution doesn’t just have to be for the transaction of funds in the store. Instead, the partnership is a collaboration that helps your business enable new features and services. Aeropay facilitates online orders, contactless delivery orders, and in-store payments. But it doesn’t stop there. Aeropay has easy-to-implement SDK, custom APIs and offers detailed, deep, custom integrations.
Accounting reconciliation is offered through Aeropay’s merchant portal. The platform has a customizable user dashboard that makes managing dispensary finances simple. With eCommerce cannabis solutions, businesses have a secure and immediate option to track and maintain payments. There is also a function allowing users to filter cannabis payments by type and void or refund transactions. At any time, merchants can access real-time reporting totals and data sums for accurate bookkeeping and performance reviews.
Ideally, cannabis payment processing systems benefit both the business owner and the customer. Implementing shopping options both in and outside of the store is better for the user experience. Millennials and Gen Z shoppers, who make up the majority of cannabis sales, prefer ordering cannabis online. Another preference shoppers have? Digital payments. After the pandemic, 50% of patrons said they wouldn’t shop at a store that doesn’t offer contactless payments. Aeropay gives flexibility for customers to purchase with digital cannabis payments both inside the store and online.
Some technology solutions offer closed architecture systems, but closed architecture solutions will not universally communicate or integrate with technology solutions outside of their proprietary system. Aeropay’s system, on the other hand, is open and can be integrated with many vendors. With an open integration, the technology allows your business to have access to the most competitive options available. This flexibility creates limitless growth options for businesses who can want control over their growth and technology choices. These aren’t dispensaries. These are e-commerce and POS solutions.
The key to Aeropay’s compliance and ability to provide secure payments for dispensaries is its partnership with compliant financial institutions, including Safe Harbor Financial. Through Safe Harbor’s industry-compliant financial services, a dispensary can have a bank account and seamlessly transfer funds without flagging anti-money laundering laws. The cannabis banking solutions platform also allows dispensaries to accept contactless in-store and online cannabis payments while minimizing cash management.
Customer loyalty is valuable for any business. Loyal customers are not only likely to spend more, but they also tell others about their experience, bringing new customers through the door. Once shoppers are in the store, it’s up to budtenders to create a welcoming environment. Customers shouldn’t feel uncomfortable asking questions and learning more about cannabis. Aeropay offers employees growth opportunities through customer service training that gives budtenders expertise in sales and people skills.
Aeropay also has a top-notch in-house customer service team to answer any questions you might have. With a library full of FAQ articles and a chat service, anything you need to run your dispensary is right at your fingertips.
Aeropay is a trusted partner for cannabis payments with a range of services that offer dispensaries a leg up in customer retention and sales – partnered in-store and online retailers have reported a 25% increase in sales per transaction. Aeropay’s compliant cannabis payment platform works with any retailer’s ecosystem and provides dispensaries with features to help simplify their finances. You can trust Aeropay as a partner in providing secure, contactless payments, customized to the needs of your business.
We’re happy to show you our full payments solution and put the best bank-to-bank transfers to work for your business.