Chicago, IL – August 23, 2019 – Greenery Map, the world’s first and only cannabis search engine to allow users to search for cannabis products based on their desired mood, medicinal use, and method of consumption, has teamed up with PayHouse Consulting Group, LLC to offer merchant processing and bank account services to Cannabis and CBD Hemp businesses. The first of its kind, this partnership allows dispensaries the opportunity to legally accept credit card payments without the need for workarounds, and it offers all Cannabis businesses, from growers to dispensaries, the ability to streamline their finances and reduce the need for cash on hand.
PayHouse offers several Cannabis banking solutions through their private banking network, Safebank. The Safebank network is comprised of numerous banking and payment processing partners who comply with rigorous standards to ensure that at- risk business’ money is kept safely and securely. These standards include BSA Compliance, FinCEN requirements, AML, Cole Memo, SARs, and Know-Your-Customer (KYC) due diligence. Greenery Map member businesses have the opportunity to create these accounts and work with a PayHouse Advisor for assistance in transitioning from a cash-only operation to a safe and secure next-level business. With an integration to the business’ POS or seed-to-sale system, currency transactions are monitored daily, allowing growers and dispensaries alike to track and monitor all transactions.
Through the Greenery Map and PayHouse partnership, dispensaries, growers, and other Cannabis businesses have the opportunity to open a merchant account at a competitive rate, allowing Cannabis transactions to be completed just like any other purchase. Transactions are completely safe and legal, without the need for in-store value cards or any other loopholes that are typically used. This offers the first long-term compliant payment acceptance solution across the industry, and will allow patrons to pay both in-store and online. Traditionally, customers spend up to 40% more when paying with plastic than they would when they’re confined to just the cash in their pockets, and opening a merchant processing account drastically reduces the need for business to keep cash on hand, thereby reducing risk of miscalculation and mishandling.
Beyond merchant processing and banking PayHouse also offers a full suite of business services to help the industry evolve into a legitimate industry. Additional services include funding, marketing, and consulting. PayHouse vets more than $150 million in funding needs a month, but is not limited to just the cannabis industry. They focus on emerging markets and technology companies, too.
For more information, please visit: https://www.payhousesolutions.com
About PayHouse Consulting Group
PayHouse Consulting Group is a consulting company with offices in Chicago, IL and St. Louis, MO. PayHouse offers business solutions and consulting for emerging markets & high risk industries. Their expertise expands two decades in payment processing, funding, and strategic consulting. Many companies have utilized PayHouse’s services to help acquire funding, expand, or reorganize their financial structure.