U.K. challenger bank Monzo has closed a funding round with another 60 million pounds ($80.3 million), the same amount as its last funding round from June, TechCrunch reported. Monzo has now raised 125 million pounds ($167.3 million) during the pandemic. The company also now has over 4.8 million customers, including over 60,000 business users, and […]
J.P. Morgan Asset Management has announced that it has agreed to acquire FinTech 55ip, which works to help financial advisors deliver tax-smart investment strategies, according to a press release. The release stated 55ip will still operate as its own separate company, but it will have the "full support" of J.P. Morgan. 55ip, which has been […]
Dr. Moncef Slaoui, who acts as President Donald Trump's COVID-19 vaccine czar, said the U.S. should have enough vaccines to immunize 100 million people by the end of February, CNBC reported, citing a briefing attended by reporters. Slaoui, who leads Trump's vaccine program Operation Warp Speed, said there would probably be enough vaccines to help […]
â€œNever say never,â€� the simple advice most of us have been getting since childhood â€” a warning against universal pronouncement about what one will, or will not do, for the rest of time. It is advice the team at Jimmy Johnâ€™s might have taken in early 2019 when they announced theyÂ would never go in for […]
Intelligent automation supplier Kofax has announced new innovations for its invoice and accounts payable (AP) solutions, according to a press release. Kofax's solutions, the release stated, help to boost the speed and ease of processing financial documents and data, including automation of time-consuming manual work and easy ways to connect financial systems. The new solutions […]
The SBA has dumped all of it. A court order recently forced the SBA to reveal precise details of every single PPP and EIDL borrower regardless of loan size and regardless of privacy concerns. The SBA dumped all the data late on Tuesday night through a series of downloadable .csv files. However, small-business-forum.net has made […]
Enova International announced the appointment of James J Lee to the position of Chief Accounting Officer. The new role went into effect on November 23rd. Lee was previously the Controller of Life & Health of Kemper Corporation.
An Inventory and Purchase Order Lending Platform Targeting $500K to $10MM Opportunities Bethesda, Maryland / November 30, 2020 â€“ Black Olive Capital LLC (â€œBlack Oliveâ€�) announced today the launch of its intelligent inventory and purchase order lending platform. Black Oliveâ€™s mission is to provide fast and easy inventory and purchase order financing to underserved small-to-medium […]
In the weeks following the election, the news cycle has been heavily focused on the presidential transition’s legal aspects. Instead of worrying about vote recounts, merchant cash advance (MCA) companies are considering what legal changes, if any, might come after Jan 20th. Will the Biden administration spell the beginning of new regulations on the world […]
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.