Green Marimba Technologies of Boulder, Colorado, a software and online services provider for the cannabis industry, is pleased to release its new cannabis payment processing solutions for dispensaries, processors, and growers. The company offers both Point of Banking services and traditional merchant services aimed at easing one of the biggest pain points experienced by marijuana dispensaries and producers – having to run as a cash only business.
As marijuana sales are still illegal at a federal level, dispensaries have experienced difficulties opening accounts with banks and getting access to traditional merchant services that would allow them to make debit or credit card sales. Having to run a cash-only business not only restricts sales, but also results in additional costs for security and insurance and increases risks of loss or theft. National banks have been hesitant to provide services to cannabis industry licensees, but more and more local and community banks are finding that financial opportunities outweigh the increased risk and oversight necessary for federal compliance.
Rod Murillo, founder and CEO of Green Marimba, says, “Green Marimba offers two distinct products at very competitive rates to address dispensaries’ and growers’ needs for financial services: a Point of Banking solution aimed at eliminating in-store ATMs, and a merchant services solution that allows customers to pay for cannabis products directly with debit and credit cards. In coordination with our other software products, these new cannabis payment processing solutions will boost sales by 20-30% while greatly reducing our clients’ risks and costs of handling cash.”
Green Marimba sells comprehensive Software-as-a-Service (SaaS) solutions that address key needs of modern producers and dispensaries, including compliance and Metrc™ integration, security, point of sale and inventory management solutions, privacy, and customer relationship management.