After months of record highs, small business optimism has apparently begun a downswing â€” or has it? The latest research on the topic reveals a multifaceted view of small businesses’ economic and financial outlook in the U.S., with conflicting findings illustrating how complex the picture of SMB financial health is today. Earlier this month the […]
The evolution of payroll is all about pushing back against the notion of one-size-fits-all. As innovative technologies move down stream, small and medium-sized businesses are poised to benefit significantly from being able to customize a flexible payroll and human capital management (HCM) program. Employees and a shifting talent landscape have introduced the demand for payroll […]
U.K.- and Australia-based Capify, an alternative finance provider targeting small firms, has landed a $96.6 million investment from Goldman Sachs, the company said on Wednesday (Jan. 16). Goldman Sachs Private Capital provided the credit facility that will be used to promote Capify‘s growth across Australia and the U.K., particularly its merchant cash advance and SMB […]
More than 200 APIs will be made available from more than a dozen banks in Hong Kong through JETCO, backed by Union Pay. Elsewhere, Ripple's xRapid sees further adoption, while SWIFT has published a standard for its Pay Later API.
General Electric‘s divestiture of GE Capital assets continues as MUFG Union Bank announced plans to acquire GE Capital’s Trade Payable Services (TPS) operations. In an announcementÂ on Wednesday (Jan. 16), MUFG Americas and GE Capital said MUFG Union Bank will acquire GE Capital’s supply chain finance platform for an undisclosed sum. “The acquisition of this world-class […]
Lamine Zarrad, CEO, Joust This week marked the launch of the Joust iOS app, a platform for freelancers and small businesses that provides banking, payments, collections and invoice factoring solutions. The Android App is scheduled for release on February 1, 2019. â€œWe straddle three different domains: payments, merchant processing, and factoring, all in one app,â€� […]
Capify, which serves the UK and Australia markets, announced this morning that it has secured a Â£75 million (roughly $95 million) credit facility from Goldman Sachs. â€œThis credit facility validates our company as a leader in the marketplace and underlines the strength of our business model to provide simple, affordable and smart financial options to […]
New York State plans to outlaw the use of Confession of Judgments (COJs) in small business loan contracts this year, according to details revealed in Governor Andrew Cuomo’s newly published Justice Agenda. The proposal, dubbed “Stopping Predatory Merchant Cash-Advance Loans,” is a 3-part plan to: Codify an FTC rule that prohibits COJs in consumer loans […]
Today, Strategic Funding announced the launch of a new brand identity, including a name change. Strategic Funding will now be called Kapitus. â€œWe had a name that was very well respected,â€� said Kapitus founder and CEO Andy Reiser. â€œEverybody loved our name, quite frankly. They loved it so much, they all copied it. You canâ€™t […]
Change reflects new strategy, expansion of product portfolio, technology advancements and a renewed commitment to provide financing to more businesses New York, NY â€“ January 15, 2019 â€“ Strategic Funding Source, a veteran of the small and medium-sized business alternative lending space, today announced the launch of a new corporate brand identity, including a new […]
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.