Hypur Inc. (Hypur) released a Cashless ATM Transition Guide to help cannabis businesses transition away from cashless ATM payments. With the continuing widespread shutdown of cannabis cashless ATMs (also referred to as Point of Banking), many cannabis businesses are looking for guidance on choosing a new payment solution.

The latest cashless ATM shutdown that started Dec. 1, 2022, by far the largest service interruption to date, highlighted the need for cannabis businesses to utilize a sustainable and transparent payment solution.

“After getting burned by cashless ATMs, cannabis businesses want a more modern payment solution and are looking for help so they don’t end up in another cashless ATM situation,” Michael J. Sinnwell Jr., CEO of Hypur.

Cannabis payments have evolved considerably since cashless ATMs were introduced and many cannabis businesses aren’t familiar with the new payment options available to them. Additionally, cannabis payments is a fragmented market full of third-party resellers making it difficult for cannabis businesses to find definitive information.

Hypur also offers a Strategic Guide to Cannabis Payments that provides a comprehensive resource about all cannabis payments. Hypur’s new Cashless ATM Transition Guide is designed specifically to help cannabis businesses make the transition away from cashless ATMs. View the Cashless ATM Transition Guide.

   

“With all the misinformation in the market, choosing a cannabis payment solution is much more difficult than it should be. Our Strategic Guide to Cannabis Payments and our new Cashless ATM Transition Guide provide cannabis businesses with resources to help them make informed decisions,” Michael J. Sinnwell Jr., CEO of Hypur.

Hypur’s guide focuses on helping cannabis businesses transition from cashless ATMs to PIN debit processing. PIN debit processing, the most modern payment solution currently available to cannabis businesses, offers a traditional payment experience customers are accustomed to.

PIN debit and cashless ATMs both use debit cards but PIN debit is true merchant processing, not an ATM withdrawal, and everything from the application process to accepting payments is different. Hypur’s Cashless ATM Transition Guide helps businesses understand the differences and what to look for when selecting a PIN debit payment provider.

About Hypur

Hypur’s technology has helped financial institutions provide bank accounts to cannabis businesses since 2015 and has helped financial institutions process over 1.3 million cannabis transactions. Learn more at hypur.com.