POSaBIT Rolls Out First Customer for its Innovative Point-of-Sale System

December 11th, 2018

POSaBIT the leading financial technology company delivering unique blockchain-enabled payment processing and point-of-sale (POS) systems for cash-only businesses, today announced that its integrated POS and payments platform has been deployed at Trove in Washington state. This is the inaugural deployment of POSaBIT’s complete store management solution designed to help the cannabis sector realize its full retail potential. 

“The cannabis industry has seen tremendous growth, with companies flooding into the market with numerous piecemeal solutions, but up to now they’ve really been missing the big picture,” said POSaBIT Co-founder and CEO Ryan Hamlin. “With our complete store management system, the sector can deliver the modern experience that consumers demand, with remarkable benefits to the business owner.”

The company provides retailers with a unique offering of innovative POS technology combined with the company’s safe and compliant cryptocurrency payments approach, a unique solution that allows cannabis retailers to accept credit/debit cards by enabling customers to acquire cryptocurrency through a dedicated console and spend it where the POSaBIT system is installed. As a result, previously cash-only businesses can offer a secure and compliant means of payments along with a sophisticated and high-touch customer experience provided by the same POS system utilized by many Fortune 500 companies.

“Working with POSaBIT’s payments platform over the last 18 months has been incredibly seamless, so we knew the support we’d receive through their POS system would be incomparable to others in market,” said Trove CEO Yin Lai.

The POSaBIT POS technology offers an array of key features (most at no additional cost to the store owner) that allow stores and their customers to improve their customer experiences:

·       Loyalty programs

·       Instore digital menus

·       Online ordering/in-store pickup

·       Inventory management and state seed-to-sale compliance

·       Customizable discounts

·       One integrated hardware profile (monitor, printer, scanner, cash drawer)

“The POSaBIT team worked with us every step of the way to ensure the transition of our data and inventory was so simple and the cost-savings we’ve realized from leveraging all of the solutions together has provided tremendous ROI,” said Lai. “This all-in-one system gives us peace of mind of compliance and of course the current debit and credit payment services continues to provide a competitive edge in this crowded space.” 


POSaBIT is a financial technology company that delivers unique and innovative, blockchain-enabled payment processing and point-of-sale systems for cash-only businesses. POSaBIT specializes in resolving pain points for complex, high-risk, emerging industries like cannabis with an all-in-one solution that is compliant, user-friendly and utilizes top-of-the-line hardware. POSaBIT’s unique solution provides a safer and transparent environment for merchants while creating a better overall experience for the consumer. For additional information, visit: www.posabit.com.

Media Contact:

Katie North, The Blueshirt Group