Hypur Provides Transparent Payments Solution for Cannabis Businesses Nationwide
By Stoned Writers
Hypur Inc. provides reliable, transparent payments for the cannabis industry nationwide. Unlike other payment solutions that are not fully transparent in business-to-business (B2B) or business-to-consumer (B2C) cannabis payments, Hypur gives merchants full visibility into the status of the entire payment process.
Cannabis merchants and other marijuana-related businesses (MRBs) have long sought a reliable payment solution to complete B2B payments and to accept cashless payments from consumers. Cannabis businesses do not have access to legitimate credit and debit card processing, forcing them to use unreliable work-around payment products that can put customers' information at risk.
When using offshore or illegitimate payment processors, the chance that customer data will end up on the dark web, and in hackers' hands, is high. In the long term, this causes a terrible customer experience and can ruin a merchant's reputation. In the short term, this usually translates to higher transaction fees and slower processing times for the merchant.
Hypur brings an alternative to these shady solutions by offering a direct account-to-account transaction for both B2B and consumer payments.
"We pride ourselves on being the only payments company in the cannabis industry that's stood the test of time," said Christopher E. Galvin, founder and CEO of Hypur. "By bringing reliable, transparent payment technology to the cannabis and hemp industries, we're helping contribute to the safety of consumers while providing sustainability to businesses."
Hypur facilitates a direct account-to-account transaction and doesn't rely on cryptocurrency, offshore processing or other workaround solutions.
Instead, Hypur enables consumers to purchase cannabis electronically through a secure, easy-to-use mobile application. Consumers are immediately provided with a receipt via text message and email to prevent fraudulent charges, while the merchant has visibility into transaction data as required by their financial institution. Consumers also enter a Personal Access Code (PAC) to purchase product and can use Face or Touch ID to secure the app. The application is available for download on the App Store and Google Play Store.
Hypur's consumer payments are not limited to in-store transactions – delivery, order-ahead and online purchases are also made using the platform.
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