POSaBIT Launches Fully Compliant Mobile Payments Technology for Cannabis Industry

Company Well-Positioned for Expansion as Mobile Cannabis Delivery Continues to Grow

SEATTLE – July 31, 2019 – POSaBIT (CSE: PBIT), a leading financial technology company delivering unique blockchain-enabled payment processing and point of sale (POS) systems for cash-only businesses with a focus on the cannabis industry, announced the rollout of its fully compliant mobile payments system for dispensaries across states. POSaBIT’s new handheld device allows for compliant processing of mobile delivery that could be extended across the 25-plus states that currently allow for delivery to medical and, in some cases, recreational cannabis consumers.

“Delivery is one of the fastest growing segments of the cannabis industry and an area that many dispensaries are moving toward,” said Ryan Hamlin, POSaBIT CEO and co-founder. “Our fully compliant solution allows businesses to feature a state-of-the-art retail customer experience for both in-store and delivery, while also providing in-depth business analytics and increased revenues for businesses.”

The new payments system moves from requiring an iPad, printer, scanner, and debit terminal to only needing the device and debit terminal. POSaBIT’s all-in-one handheld device includes an Android device, printer and scanner that seamlessly allows dispensaries and affiliated delivery drivers to scan the consumer ID, process the purchase of the product, add a tip for the delivery driver, and print the receipt for the customer.

This easily installed, mobile-operated system will replace POSaBIT’s existing payments solution used in stores and will be rolled out to existing and new customers over the next several months. At half the cost of the previous hardware solution, the new mobile hardware improves businesses’ ability to implement the solution and quickly begin offering it to consumers.   

POSaBIT already manages millions of transactions for over 120 dispensaries across Washington, California, Nevada, Colorado, Arizona and Oklahoma.

 

About POSaBIT

POSaBIT (CSE: PBIT) 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.

  

Contact:

Media Relations:

Katie North

The Blueshirt Group for POSaBIT

415-217-4963

katie@blueshirtgroup.com