The Internet of Things (IoT) has firmly taken hold, with new applications â€” focusing on the support of consumer, business and industrial use cases â€” now being developed and rolled out regularly. The adoption of IoT technology to support business use cases is particularly impressive. Thirty-four percent of businesses are using IoT in their operations, […]
In the U.S. and worldwide, counterfeiting is a large, lucrative business worth between $1.2 trillion and $1.5 trillion annually, according to the International AntiCounterfeiting Coalition (IACC). Fake fashion items and accessories alone represent a $500 billion global business per year, but counterfeiting is much bigger than fake purses and shoes. Everything from makeup to clothes, […]
Harvey Schwartz, the former president and co-chief operating officer of Goldman Sachs, is reportedly in talks to become the next CEO of Wells Fargo.Â The New York Post reported that members of Wells Fargoâ€™s board have been meeting with Schwartz,Â who was beat out by David Solomon to become Goldmanâ€™s new CEO last year. One source revealed […]
Government moves at its own pace, for better or worse or both, but that pace can provide opportunities for fraud and expensive errors â€”Â mistakes and missteps that can cost hundreds of billions of dollars annually. Take all the paperwork required to access federal benefits in the U.S. Not only does that encourage the spread of […]
With PSD2 becoming firmly planted in the European Union (EU), more markets are integrating the regulation into their financial systems, and prepping for changes in the ways they approach payments, data transfers and customer authentication. Businesses and banks under its purview are preparing for one specific change under the regulation: Strong Customer Authentication (SCA). This […]
The speed at which a small business owner can access capital to grow and create jobs in New Jersey is too dangerous and must be stopped. This is the takeaway from a bill (S3617) proposed by New Jersey State Senator Nellie Pou that calls for a minimum 3-day waiting period between when contract terms are […]
Kunal Bhasin, owner of brokerage 1 West Finance, funded three A paper deals for companies that all happened to work out of the same Manhattan office building on the corner of 42nd Street and Third Avenue. Itâ€™s actually not as big a coincidence as it sounds because itâ€™s the same building where 1 West Finance […]
In this dark blurry photo, Ross moderates an online lending panel in 2014 Direct Lending Fund CEO Brendan Ross, has resigned, according to Bloomberg News and numerous individuals identifying themselves as investors on an industry blog. The fund not only lost nearly 25% of its portfolio in a single sour investment, but it’s reported that […]
Left: Chad Otar, Excel Capital. Right: Lori Miller, LGC Interior Design Excel Capital CEO Chad Otar was so impressed by a marketing company he helped obtain funding for that he turned around and emailed his other clients about the potential benefits of their service. As a result Otar said that about five of his clients […]
Earlier this week, Alan Hayon had a challenge – to get a merchant above a 500 FICO score in order to make them eligible for small business funding. Within 30 minutes, Hayon increased the merchantâ€™s personal FICO score by 59 points, getting them above 500. And the deal funded the following day. Hayon is 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.