The chair of the Senate Subcommittee on Competition Policy, Antitrust, and Consumer Rights has called on Amazon and Googleâ€™s Alphabet to extend more information about how smart home devices and virtual assistants will meet user privacy and competition requirements. A subcommittee hearing last week â€” Protecting Innovation and Consumer Choice in Home Technologies â€” raised […]
Jack Maâ€™s Ant Group is in the midst of discussions with enterprises owned by China that would create a credit-scoring firm while making Antâ€™s data transparent to the countryâ€™s regulators, The Wall Street Journal reported on Wednesday (June 23), citing sources. The new venture is anticipated to move forward before the end of this year […]
In todayâ€™s top news in digital-first banking, Nicolet BanksharesÂ plans to buy County Bancorp, while MAXEX has secured an investment from J.P. Morgan. Plus, New Jersey-based CRB Group has bought data and risk analytics company PeerIQ. Nicolet Bankshares Acquires County Bancorp In $219M Deal Nicolet BanksharesÂ plans to purchase County Bancorp and its banking subsidiary, Investors Community […]
In todayâ€™s top retail news, Bed Bath & Beyond debuted another owned brand, while Perfect Corp. has integrated with Facebook. Plus, NordstromÂ and Indochino are launching store-in-store shops. Bed Bath & Beyond Rolls Out Wild Sage Brand Amid Private-Label Push Bed Bath & Beyond has introduced an additional owned brand as part of its private-label push. […]
Chinese grocer Dingdong is setting its sights on getting a $6 billion valuation when it goes public in the U.S. The company, which is backed by Japanâ€™s SoftBank Vision Fund II, delivers groceries mainly in such big Chinese cities as Shanghai, Beijing, Shenzhen and Hangzhou. Reuters reported that the valuation would mean a jump of […]
Less than eight months after Yardline announced their launch in the e-commerce financing space, they were acquired by Thrasio. The blazing fast progression from launching to selling the company suggests that Yardline’s niche presents a unique opportunity. “There are many companies out there that look at e-commerce businesses in the space and say, ‘there’s no […]
A series of eight merchant cash advance agreeements were not loans, said the First Department of the New York Appellate Division. In Strategic Funding Source, Inc. et al. v. Steenbok Inc. et al, the defendants filed for summary judgment to dismiss the complaint. The Court denied it and defendants appealed, causing the Appellate Division to […]
Fountainhead, an Orlando-based SBA lender, funded over $4.72 billion in PPP loans to SMBs in the past 15 months. According to the SBA, the 30 member team facilitated the 12th most PPP loans in the country. So far in 2021 alone, Fountainhead funded $3.95 billion, after a total of $760 million in 2020, preserving 430,000 […]
The industry is back. I say this while sitting in a Miami hotel, my third such trip to Florida since becoming fully vaccinated against Covid in May. There’s a lot of action going on. I’ve sat down in multiple broker shops in both New York and Florida and the phones are ringing off the hook. […]
A LinkedIn poll posted by the Chief Legal Officer of Coinbase that asked followers to weigh in on the pronunciation of Dogecoin, drew an unexpected response. Neel Kashkari, the president of the Federal Reserve Bank of Minnesota, replied that it was pronounced “pon-zi.” Kashkari, who spent 3 years at the US Treasury where he established […]
Zero Fee Commerce is introducing a bank sponsored payment service for the cannabis industry.
Cannabis businesses may now open merchant accounts to accept PIN debit cards.
Zero Fee Commerce is leading the way by offering this service nationally in the United States and Canada.
What the Zero Fee Commerce solution offers:
A Bank Sponsored Merchant Account
Payment Service for PIN Debit Transactions
A Surcharge may be Recovered in Dollar Increments
On-Line Reporting and Statements
API Integration into POS Software and Seed to Sale Software
Wireless Processing for Delivery and Mobile Business
For years, to accept credit cards, cannabis businesses “merchant account hopped”, or set up less desirable payment options. Cannabis shops would set up merchant accounts in another businesses name. This could result in bank fines and being placed on a “terminated merchant list”, which is not a viable solution. Cannabis shops could use ATM machines or point of banking terminals, (many of which are not bank sponsored). Additionally, ATM machines are expensive and have the additionally large task of managing cash.
There have also been alternative payment options such as offshore processing accounts and online wallet accounts which use an aggregating type of solution whereby a 3rd party re-sends funds to make deposits. These solutions also have one thing missing. They do not use a sponsoring bank to process the wires or ACH transactions. Many times, the 3rd party aggregation is not informing their sponsoring bank about the nature of these transactions.
Zero Fee Commerce merchant account has none of these issues. Zero Fee accomplishes this by processing only debit card payments which utilize debit networks, and avoid processing through the Visa and MasterCard and American Express networks. This allows the sponsoring bank and the businesses utilizing Zero Fee’s solution to avoid the regulations imposed by card associations.
Improve your customer experience with Zero Fee’s bank approved merchant account. Process transactions securely and avoid liability. Contact Zero Fee Commence today to establish an account.