Safe Cashless Payments For Cannabis? Weed-Focused Tech Platform Expands Offering

Cannabis-focused tech platform, Treez, announced Tuesday multiple advancements in financial offerings for their cannabis retail customers: TreezPay One Application, the launch of Swifter ACH Payments and PayLater Embedded Financing. These enhanced financial service offerings from Treez give retail dispensaries additional tools to help grow their business and normalize their consumer experience both online and in-store. All three updates are now available to existing and future Treez customers.

“Now more than ever, cannabis retailers need quick, easy and direct access to traditional fintech solutions including working capital and stable cashless payment options for their consumers,” stated John Yang, co-founder and CEO of Treez. “With the launches of our TreezPay One App, Swifter ACH Payments and embedded financing within the Treez platform, we are delivering to our customers the sophisticated tools they need to compete effectively and grow their business.”

TreezPay One Application

TreezPay One Application provides enhanced benefits for cannabis retailers who are no longer willing to accept “cash only” transactions as their sole means of conducting business. Cannabis retailers have found that accepting cashless payments boosts order value, decreases transaction time, and allows merchants to increase their average monthly revenue by 25% and average order value by at least 20%. This application provides retailers with multiple options to solve this issue and create a better retail experience for consumers.

"I never thought I'd find myself impressed by a merchant processor application, yet somehow TreezPay One App has done it,” " said Tyler Licata, Director of Operations at Higher Level Dispensaries. “Getting signed up takes less than a minute, and the application itself is a breeze compared to any other process I've personally encountered during my 7.5 years in the cannabis industry.”

Swifter ACH Payments

Swifter ACH Payments is a proprietary solution following the acquisition of Swifter in Fall 2022, adding cutting-edge technology to TreezPay offerings.

With Swifter ACH, cannabis dispensaries can enjoy the following advantages like e-commerce boost. The integration supercharges e-commerce capabilities, leading to increased transaction volumes, customer loyalty, and higher average order values. Retailers can embed ACH into their eCommerce solutions, enabling customers to conveniently “Pay Now” for their online orders. In addition, Swifter ACH enables customers to tip on their online orders during the checkout process, resulting in a staggering 120% on average increase in tips per transaction.

PayLater Embedded Financing

Through Treez’s partnership with a leading fintech platform, Treez customers can easily delay their vendor payments with the click of a button within the Treez platform through the ‘PayLater’ product. All Treez retail customers get instant approvals for up to $10,000, and their first-month fee free.

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