On the first day of Treez Pay’s launch in April 2020, over 50% of the consumers at merchants offering this new payment option chose to use it. This adoption rate speaks to the pressing need for a reliable and easy-to-use electronic payment option in the cannabis marketplace.
All too often cannabis merchants have found themselves in a worst-case payments scenario: payments methods fell short of the stringent regulatory scrutiny in this sector, and compliance risks rendered them unreliable. Unlike mainstream retailers, many cannabis merchants have been resorting to cash for their order volume. Even when they do work, prior electronic options have been disjointed, posing an awkward checkout experience for customers.
To add another obstacle: the timing of COVID-19 precautious created a sudden need for contactless transactions.
Stronghold created a payments solution with rigorous internal compliance controls and a seamless user interface. Treez Pay eliminates the use of a third-party application or a separate login—an industry first. Merchants maintain their brand presence throughout the transaction because the ACH solution is embedded directly in the checkout flow. By integrating Stronghold’s infrastructure with Treez’s broad reach in the cannabis marketplace, many merchants now have ready access to payments technology of a caliber that an essential business deserves.
