By clicking Accept, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Pprivacy poprivacy policy for more information.

Why Dispensary Customers Adopt Aeropay ACH Payments More Often

Cannabis
November 3, 2023
Olivia Bobrofsky

Digital payments are the future. They’re quickly overtaking all other payment methods and it’s only a matter of time until the vast majority of consumers realize ACH is preferable over cash or card

However, convincing someone to try something new (and stick with it) can be tricky – it takes people an average of 66 days before a new behavior becomes automatic. And this is especially true when it comes to how consumers spend their money. 

Opening cannabis consumers up to ACH payments starts with finding the right partner offering to entice them. You need a solution that customers love, meaning it’s incredibly easy to use, convenient, and safe. 

Below, we outline common factors that impact cannabis retail consumer adoption of ACH payments.

What factors drive ACH adoption?

While there’s plenty of work a dispensary can do to ensure consumers adopt digital payments, there are also intrinsic features that an ideal ACH partner offers to ease customer adoption.

Things like safety, familiarity, and ease of use are not as easily found in cannabis payment providers as other industries – in fact, this is a rarity in the industry. 

Safety 

Psychologist Daniel Kahneman wrote, “For most people, the fear of losing $100 is more intense than the hope of gaining $150.” 

Humans are inherently risk-averse, but that’s not always a good thing. To mitigate any concerns a customer might have about a new payment method, the provider must be seen as incredibly safe and secure. 

In cannabis, there are countless risks associated with traditional and even non-traditional payment methods like cash or cashless ATMs. Digital payments are able to step in as the most secure form of payment in the cannabis industry. 

Familiarity

Familiarity is a precursor for comfort. Even if a customer hasn’t heard of your ACH partner, they’ve likely encountered something similar. 

But ideally, they have heard of your digital payment partner. Maybe a friend or family member has already tried it. Ideally, you can partner with a digital payment provider that’s already established in the cannabis industry, improving your odds of striking a familiar chord with customers. 

The more widely-used your ACH solution is, the better the odds of familiarity and therefore faster adoption. 

Feeless transactions

In a prior post, we discussed the importance for cannabis retailers to absorb digital payment fees as a cost of doing business. 

This is especially useful in driving new user adoption since added costs at checkout are the number one reason why shoppers abandon their cart. 

Read more about the impact of fees.

Ease of use

This is perhaps the most impactful (and hard-to-find) feature from cannabis ACH payment providers. The concept is simple, to convince someone to try something new, you have to take the path of least resistance. 

Signing up and utilizing ACH payments at a dispensary or online needs to feel seamless and simple – even more so than swiping a card and entering a PIN. 

Does your ACH partner offer things like one-click payments? 

How does Aeropay boost customer adoption?

Aeropay’s digital bank-to-bank payments for cannabis retailers are changing the way customers pay. 

Here’s why…

Quick and easy sign up process

Aeropay enables operators the best money movement experience with a homegrown bank connection experience (Aerosync) designed for each vertical. The process for customers to use Aeropay is user-friendly and incredibly easy. There are no apps or downloads involved. 

Here are the steps: 

  1. 1. The customer scans a QR code in store, or links online.
  2. 2. New customers link their bank in 3 easy steps, or existing customers log in.
  3. 3. Customers pay directly from their bank with no fees.

Aeropay's approach to simplifying and expediting the sign-up process dramatically impacts user adoption. This is crucial since 66% of adults believe valuing their time is the most important thing a company can do to provide a good online customer experience.

Robust integrations

Aeropay’s fleet of robust integrations make the checkout process seamless for eCommerce orders. Our embedded API-first payment solutions allow for a one-click online checkout experience.

A faster checkout experience provides online cannabis shoppers with an added incentive to get started on Aeropay and keep using the solution going forward. In fact, 90% of customers using Aeropay for online payments use it again the next time.

No fees, no hassles

Aeropay won’t pass added fees onto your customers, so you won’t worry about the concerned look on their face when they see a higher-than-expected cart total.

Learn more about Aeropay’s pricing structure

Get ACH cannabis payments your customers will use

Aeropay offers cannabis businesses the most compliant bank-to-bank digital payments available. Plus, customers enjoy using Aeropay because it’s convenient, fast, and safe. 

Ditch the hassle of cash and card by scheduling a demo with Aeropay.

Author

Olivia Bobrofsky

Enterprise Sales & Account Manager
Back to the blog
Back to product updates
Schedule a demo

Seeing is believing.

We’re happy to show you our full payments solution and put the best bank-to-bank transfers to work for your business.

Book a demo with Aeropay
Just 15 minutes
Specific to Your Business
No tech experience needed
Schedule a demo

Seeing is believing.

We’re happy to show you our full payments solution and put the best bank-to-bank transfers to work for your business.

Book a demo with Aeropay
Just 15 minutes
Specific to Your Business
No tech experience needed
Schedule a demo

Seeing is believing.

We'll talk about your big ideas and how payments can support your vision.

SDK & API optionality
Plugin information
Dedicated integration specialist
Onboarding and implementation
Schedule a demo

Ready to put integrated payments to work?

We’re happy to show you our full payments solution and put the best bank-to-bank transfers to work for your business.

Partner with Aeropay
Just 15 minutes
Specific to Your Business
No tech experience needed