Order to Eat (OTE) is changing the recipe of how restaurants work, and even what they look like. In the February 2020 Order to Eat TrackerÂ®, a PYMNTS and Paytronix collaboration, we explore the radical transformation that order-to-eat commerce is delivering to the restaurant sector, as well as the technology firms catering to it. Among […]
For those seeking streetwear-themed food, there is a cornucopia of options. Ground zero seems to have beenÂ Taco Bell and Forever 21â€™s 2017Â team-up to combine fast food and fast fashionÂ into a single entity â€“ fast-food fashion.Â The initiative got a lot of attention, sold a lot of T-shirts and managed to become, if not exactly a trend, […]
Rent-to-own (RTO) companies Rent-A-Center, Buddyâ€™s and Aaronâ€™s have all settled a case with the Federal Trade Commission (FTC) alleging they made reciprocal non-competition deals with each other that violated federal antitrust law and created an environment that limited choices for consumers, according to an FTC press release. The complaints said from June 2015 to May […]
Ride-hailing company Lyft has acquired Halo Cars, an advertising startup that displays ads on top of vehicles, according to a report from Axios. The move illustrates the ride-hailing industryâ€™s attempts to pull revenue from sources besides its core business, especially since both Lyft and Uber IPOs have underperformed. Uber has been testing a similar tie-up […]
The coronavirus has far-reaching impacts that extend beyond health, with a wide range of economic effects in sectors ranging from transportation to telecom and retail. We have the latest news on the economic impact of the coronavirus from airlines canceling flights to the delay of the rollout of next-generation 5G networks and merchants reopening stores […]
A Maryland State Senator and 4 State Delegates are calling for a prohibition on merchant cash advances through a bill introduced this month that aims to make it illegal to arrange, facilitate or consummate a merchant cash advance with a merchant in the state. Maryland State Senate Bill 913 and House Bill 1478, literally headlined […]
United Capital Source has partnered with Brex on a deal that will see UCS customers receive bonuses upon sign-up for a Brex Corporate Card.Â Such rewards include 100,000 points in statement credit and waived card fees for life. â€œWe really wanted to start to offer business credit cards to our clientele. We believe that as weâ€™re […]
Craig Hecker, who founded and sold Rapid Capital Funding, has acquired a stake in Bitty Advance. According to the press release, Hecker and Bitty Advance CEO Edward Siegel first met more than ten years ago when Siegel had just entered the merchant cash advance industry at Rapid Capital Funding. Bitty has been on the move. […]
Fort Lauderdale FL – February 21, 2020: Craig Hecker has acquired an equity stake in Bitty Advance. Hecker is a pioneer and leader in the merchant cash advance industry who founded, grew, and sold Rapid Capital Funding. Bitty Advance CEO Edward Siegel first crossed paths with Hecker in 2009 when Siegel was employed by Rapid […]
Patreon, the membership platform that provides payment and subscription services for creators, will now start funding those artists that are on its site through Patreon Capital. Said to be modeled after Shopify Capital, the service will be available to certain creators initially, with Patreon reaching out directly to them to offer merchant cash advances. The […]
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.