Thank you for your inquiry and interest in our payment gateway. Unlike solutions that tie into offshore banks, etc to avoid US card association rules this is not the case.
We facilitate providing the merchant with a digital wallet. The transactions are similar to PayPal and are treated as quasi-cash. Quasi-cash per MasterCard® for example uses MC6050/51 for such transactions. All transactions are in USD.
We provide a gateway to an electronic pay system that works with a cash-based digital wallet.
The eWallet operates in a “PCI-DSS Level 1 Certified Provider” environment. This means that it complies with the best security standards in electronic transactions using the most advanced technology to process and secure your information. It is constantly being updated in terms of security and user friendliness.
The actual eWallet was developed by a veteran pioneer in the US payment industry and has been private labeled by many banks worldwide as a universal payment system as they gravitate away from your present bank App.
From the merchant perspective, the eWallet is funded daily and funds can be wired to any non-OFAC-restricted country and bank.
It was originally developed for e-commerce and can be integrated into most shopping carts but it functions as the gateway. Integration into Magento, Woo-commerce, WordPress is easy and fast. For storefront dispensaries for card-present transactions we recommend a card reader such as PAX A920.
It was never intended for the canna or CBD space until the need was demonstrated that canna and CBD merchants including delivery services are being stifled by their local banks and forced to take in cash or deal in risky crypto currencies or worse sign up for merchant accounts tied into banks that nobody ever heard of, or are being part of an aggregated transaction MID along with an auto parts dealer or worse yet, being miscoded.
We know it is only a matter of time that the big banks will be accepting this very active group of merchants as evidenced by the recent increased investment by Constellation Brands in Canapy Growth which was partially financed by Bank of America.
I hope this provides you some information that is helpful.
We joined the Growers Network hoping to reach decision makers, dialogue and gain knowledge to help us improve our services. We appreciate the dialogue!
Chief Commercial Officer