To provide digital contactless payments, delivery and curbside pickup options for cannabis businesses, payment provider Hypur Inc. is teaming with Salal Credit Union. The collaboration builds on Hypur’s extensive network of financial institutions (FIs), according to an announcement.
Hypur will bolster Salal’s network of cannabis retailers and wholesalers via different digital payment offerings. Cannabis operations that partnered with Hypur to leverage the company’s financial technology can tap into the digital HypurPay app to access a safer and more convenient payment environment.
Hypur will also offer contactless payments for delivery, curbside pickup and in-store purchases via a safe checkout product function that includes a tipping feature. The company’s technology cuts down on cash handling and physical contact at checkout, and eliminates the need to stop at an ATM to get cash to pay for items.
Hypur Chief Revenue Officer Tyler Beuerlein said in the announcement, “Cannabis businesses rely on accessible and modern financial and banking resources to help their businesses grow. Establishing long-term relationships with trusted financial partners to better serve our customers and their consumers is critical to Hypur’s mission.”
Beuerlein continued, “We are excited to continue helping cannabis companies thrive with Salal, which is also known for their trusted operations across compliance, regulations and risk management.”
Hypur serves more than 600 clients throughout the country and has over 25 partnerships with banking and financial institutions. The company recently rolled out its safe checkout feature with the Caliva cannabis consumer brand.
In separate news, WAYV, the cannabis logistics startup, rolled out a payment solution for the cannabis supply chain last December. The effort’s initiative is to cut down on cash dependency and offer a line of credit to legitimate cannabis companies to simplify the selling process. WAYV was working with Hypur on the effort.
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