Cannabis Payment Company Enters FinTech Space, Offers An Ecosystem Of Financial Solutions For The Industry

Paybotic Financial, a newest venture from Paybotic, working in partnership with Regent Bank, member FDIC, announced the waitlist is open for our full program launch offering FDIC-insured checking accounts, electronic payments, and mobile and online access to cannabis operators operating in legal markets across the United States.

The program includes a full-suite financial solution enabling cannabis-related businesses to access traditional banking services such as checking accounts and electronic payments. It includes the capability to view multiple checking accounts from one centralized login, same day and next day deposit/payment settlements, and nationwide coverage. Businesses will have access to physical and digital business debit cards, card limit and utilization, digital payment options such as ACH and domestic wire transfers, cash management and logistics, and other features. Additionally, the platform will include a consumer payments mobile wallet which allows for instantaneous budtender tipping, while offering retail dispensaries same/next day and guaranteed funding.

“Having worked in cannabis payments for over 10 years, we fully understand the banking challenges that plague the cannabis industry,” stated Eveline Dang, CEO of Paybotic Financial. “Paybotic started as a payment processor with ‘bring your own bank account’ solutions. However, we found that we were having to turn a number of our clients away because they lacked the appropriate type of commercial deposit accounts, or one at all. Our clients at Paybotic were constantly asking for this type of service, and we saw a need to help relieve them of this burden that so many cannabis operators face. Paybotic Financial is backed by our combined experience and expertise in cannabis, and we are proud to be providing a supportive solution that works for our clients.”

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