POSaBIT brings blockchain powered payments to Nevada’s biggest cannabis retailer
POSaBIT will provide Nevada’s highest-volume cannabis dispensary chain with a compliant debit payment solution, complete with real-time data analytics.
Published by
CryptoNinjas.net
07/18/2019
POSaBIT, a financial technology company delivering unique blockchain-enabled payment processing and point of sale (POS) systems for cash-only businesses with a focus on the cannabis industry, announced a deal today with Reef Dispensaries.
Tryke Companies, which operates Reef Dispensaries, is a leading vertically integrated cannabis company with six dispensary locations – two serving medical patients in Arizona, and four catering to medical and recreational customers in Nevada, including its flagship location, just blocks from the Las Vegas Strip.
The company regularly surpasses 150,000 tickets per month, announcing earlier this year that it had reached the milestone of three million legal cannabis transactions, accepting only cash payment throughout most of its history.
Ryan Hamlin, POSaBIT
“As one of the epicenters of the legal cannabis industry, with both a large contingency of medical patients and a massive tourist footprint, we’re thrilled to partner with Reef Dispensaries as we’re introduced to the Nevada market. Our fully compliant solution allows businesses like Reef Dispensaries a secure path toward improved customer experience and increased sales.” – Ryan Hamlin, POSaBIT CEO, and co-founder
POSaBIT already manages millions of transactions for over 120 other dispensaries across Washington, California, Nevada, Colorado, Arizona, and Oklahoma.
“We’re excited to offer our customers POSaBIT’s debit solution as we continue to grow and innovate in the cannabis retail space. Having the ability to take debit cards will improve the efficiency of our checkout process and allow us to provide a much better customer experience.” – Reef Dispensaries’ Director of Retail Mark Conley
POSaBIT, a Seattle-headquartered company that provides cryptocurrency payment solutions for industries that lack access to traditional banking and financial services, announced today that it has raised $1.5 million in funding from Seattle angel investors,...
