Consumers are flocking to digital channels during the current COVID-19 pandemic, an ever expanding volume that is challenging merchants to keep up. These customers want to be able to complete their transactions as quickly as possible, meaning the onboarding process must be swift and seamless to ensure they do not abandon it for faster competitors. […]
Not all that long ago, blockchain and bitcoin were inseparable â€“ shorthand for the Wild West of cryptocurrencies and speculation. And you might recall that digital tokens were emblematic of volatile price swings. A boom and crash just a few years ago showed that, as estimated by Bitcoinist.com, as many as 160 projects were on […]
A decade ago, when Brazilâ€™s RecargaPay first debuted, a glance around the global payments ecosystem would have shown a similar pattern. The worldâ€™s largest digital payment companies at the time â€” PayPal and Alipay â€” got their start inside of marketplaces, RecargaPay Founder and CEO Rodrigo Teijeiro told Karen Webster in a recent conversation. In […]
For gig-economy companies, is it time to make way for the third way? AsÂ reportedÂ Monday, Uber CEO Dara Khosrowshahi wrote in a New York Times op/ed that gig-economy companies like his should set up funds to help pay benefits to workers, ranging from health insurance to paid time off. â€œThere has to be a â€˜third wayâ€™ […]
From a lack of supplier acceptance of electronic payments to outdated infrastructure within accounts payable (AP) departments, the B2B payments ecosystem still has much room for improvement on multiple fronts. Moving the needle in the journey away from paper checks isn’t a one-sided battle, either. Indeed, solving some of the biggest AP challenges increasingly requires […]
Point-of-sale (POS) lenders, also referred to as buy-now-pay-later (BNPL) firms, allow shoppers to break up their individual purchases into installments, often without interest. By adding BNPL as an option at checkout or further upstream in the purchase process, the consumerâ€™s buying power is increased and they are often less likely to abandon their checkout cart. […]
I recently spoke with Christopher Pepe, Head of ISO Relations at World Business Lenders. Pepe explained why WBL’s practice of securing loans against real estate has enabled their business to keep lending and to do deals unsecured lenders and MCA providers are not equipped to handle. You can watch the full interview here:
While the news media, regulatory agencies, and law enforcement are high-fiving each other over the course of events in the Par Funding saga (a lawsuit, a receivership, an asset freeze, and an arrest), there lies a major problem: The SEC already suffered a major defeat. On July 28th, rumors of a vague legal “victory” for […]
â€œItâ€™s actually shocking to me how tone deaf those who claim to represent our industry are when it comes to policy,â€� is how Steve Denis, Executive Director of the Small Business Finance Association, described the Innovative Lending Platform Associationâ€™s response to and influence over the drafting of bill A10118A/S5470B. Known as New Yorkâ€™s APR disclosure […]
LendingPoint announced this week that it is partnering with the online marketplace eBay to provide funding to sellers on its platform. Titled eBay Seller Capital, the program will offer terms of up to 48 months, with no origination or early payback fees, and which will be capped at $25,000 during its pilot program. â€œWeâ€™re committed […]
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.