When planning a large-scale marketing push or publicity stunt, it can be easy to overlook the fact that getting attention is hard, and getting positive attention is even harder. Actually managing to grab customersâ€™ attention with whatever eye-popping experiment one is hoping to roll out is no small feat â€“ particularly in an era when […]
Sydney, the most populous city in Australia, is also a burgeoning FinTech hub: In fact, Deloitte has ranked it as the eighth most conducive hub for growth in the FinTech sector. The city also has a deep financial talent pool, â€œrobustâ€� wealth management and a high rate of mobile use, the firm noted. As such, […]
Welcome to Five at Five, your late look at the payments and commerce news of the day. Todayâ€™s coverage includes a detailed look at Amazonâ€™s grocery sales, along with an eBay deal in Japan. Facebook faces a hurdle related to WhatsApp, Toys R Us hits a dim mark and a data breach targets patients and […]
Looking to bolster its international eCommerce presence, eBay has acquired Japanese eCommerce platform Qoo10, according to a regulatory filing. In its 10-K filing with the Securities and Exchange Commission (SEC), eBay said it completed the acquisition of Giosis Pte. Ltd.â€™s Japan business, which includes the Qoo10 platform, for $306 million in cash, and relinquished its […]
Lloyds Banking Group was hit by a computer outage that left customers unable to conduct fund transfers for several hours, according to officials. The outage impacted hundreds of customers of Lloyds and Halifax, which both operate under Lloyds Banking umbrella. The outage was connected to the U.K.â€™s Faster Payments service, and led to outages that […]
Read all of our stories about this bill Commercial Financing Disclosures Bill – Assembly Banking and Finance Committee [0:00:03] Limon: We didn’t put any time limits on it, but I will ask for brevity in comments that are made. So, with that, I will have you begin, Senator. Glazer: Thank you, Chair Limon. Senate Bill […]
Paul Watkins speaking with attendees at the 2018 Arizona Technology Innovation Summit at the Camby Hotel in Phoenix, Arizona. | Photo Credit: Gage Skidmore Acting Director of the Bureau of Consumer Financial Protection (Bureau) Mick Mulvaney announcedÂ this week that he has chosen Paul Watkins to lead the bureauâ€™s new Office of Innovation. According to a […]
Bruce Kropschot, Senior Managing Director, The Alta Group Interest in mergers and acquisitions (M&As) in the equipment finance industry has been high in the first half of 2018, according to The Alta Group, a consultancy dedicated to equipment leasing and asset finance. This follows a May 22 Reuters report announcing that global M&As reached $2 […]
The Bureau of Consumer Financial Protection (Bureau), created largely by Democratic politicians in the wake of the 2008-10 financial crisis, has not been the most popular government agency under the current administration. That said, a June court decision declared that the agency itself is, in fact, not very democratic. The controversial decision came from District […]
OnDeck announced today that it has closed on a $75 million (AUD) asset-backed revolving credit facility with Credit Suisse for its business in Australia. This will be used to refinance OnDeck Australiaâ€™s current loan book at a significantly lower cost, as well as to fund future originations there. Â This comes shortly after Lending Express […]
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.