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Cannabis Banking Solutions - Diamond Payments

Cannabis Banking Solutions

Despite the legalization of marijuana and cannabis sales in numerous states and the District of Columbia, obtaining banking services remains a considerable challenge for businesses operating in this industry. This difficulty arises from the fact that selling marijuana is still considered a federal offense, posing a risk for financial institutions that may face asset seizures by the FDIC if they engage with such businesses. However, although only a handful of banks and credit unions are willing to work with marijuana-related businesses, they typically do not openly advertise this service. Diamond Payments Cannabis Banking Solutions aims to address this gap.

We collaborate with select financial institutions to facilitate the opening of merchant accounts tailored to cannabis or marijuana-related enterprises, serving both physical retail locations and online stores. Our clientele encompasses a range of businesses, including marijuana dispensaries, cannabis paraphernalia retailers, and CBD shops.

We furnish our clients with an online gateway featuring proprietary software designed for marijuana transactions, ensuring the security and integrity of each credit and debit card transaction. Additionally, we extend comprehensive ATM services to cannabis establishments, covering installation, programming, and a five-year warranty on labor and parts. Our ATM service entails no monthly fees and includes real-time reporting capabilities, backed by highly responsive customer support.

An advantageous feature of our banking solutions is the provision of reloadable customer cards. Each client receives branded store value cards, which customers can top up with cash for making purchases and participating in loyalty programs. This payment card system operates independently of the Visa/Mastercard network, effectively reducing marijuana credit card processing fees.

Customers can conveniently reload their store cards via a mobile app linked to their bank account or credit card. When making purchases with the store card, funds are deducted directly from the linked account or card, streamlining checkout processes and minimizing wait times. These personalized store cards, bearing the business’s name and logo, foster customer loyalty and drive repeat visits. Moreover, our retail clients can leverage data from the store card program to devise targeted marketing strategies and bolster sales, ensuring lasting benefits.

An additional challenge faced by cannabis businesses revolves around managing large sums of cash. With our banking solutions and cannabis point-of-sale systems, retail establishments no longer need to contend with the risks associated with transporting substantial amounts of cash to the bank. Our comprehensive cannabis banking solutions facilitate secure money deposits and exchanges, with no restrictions on currency types or deposit amounts.

Furthermore, our online banking services enable us to cater to cannabis-related businesses worldwide, offering a suite of products tailored to support their growth and prosperity. Diamond Payments Cannabis Banking Solutions provides the essential tools for navigating the complexities of the cannabis industry and establishing a solid foundation for long-term success.

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