VENICE, Calif., Dec. 11, 2019 /PRNewswire/ — WAYV and Hypur today announced the launch of the first digital, compliant payments and ordering solution for the entire cannabis supply chain. The first-of-its-kind solution offers businesses new predictability, safety, and transparency with a “credit card like” transaction and next-day wire and ACH payments to reduce reliance on cash and move money digitally throughout the supply chain — the fastest and most reliable way.
“We are solving one of the largest problems facing the industry with the market’s fastest, most reliable, and safest way to pay and get paid,” said WAYV CEO and Founder Keith McCarty. “We provide a turnkey solution that is the most efficient, least costly way to exchange capital and products throughout California.”
The new solution and partnership provides fast, digital, and reliable payments from retailers to brands. Brands can now offer a line of credit to retailers that WAYV will auto debit on the due date, ensuring prompt and predictable payments. Brands will now be able to receive digital payments from distributors – the fastest and most efficient way to get paid. Brands and retailers will enjoy zero payment fees for a limited time.
WAYV is partnering with Hypur, the first and only compliant, transparent B2B and B2C payment platform for the cannabis industry. With Hypur’s expertise and product, WAYV has a partner equally committed to democratizing the cannabis industry. The new partnership will ensure more money moves digitally throughout the entire supply chain.
“Together, we’re committed to giving cannabis companies the same chance that all other businesses have to thrive,” said Hypur CEO and Founder Christopher E. Galvin. “The industry at large has yet to experience the value and benefit of modern payment solutions and this is a revolutionary opportunity.”
Customers are provided complete transparency through an easy-to-use dashboard that lets you know when your payments are due and when you will get paid. The new system allows for better payment terms by providing more options and default payment plans. Businesses can harness the power of WAYV’s distribution network to centralize functions like accounts payable and receivable with the new solution. Taxes and fees are computed automatically while ensuring 100% compliance — freeing businesses to do what they do best: more business.
Retailers like Atrium and leading brands are partnering with WAYV, so they can harness the benefits of modern payments and ordering solutions.
“WAYV is providing a transformative option to limit the black market and empower legal businesses,” said Atrium Partner Max Hererra. “The legal industry needs access to modern payments solutions to realize its full potential.”
WAYV provides the supply chain with no existing financial infrastructure a turnkey solution to a network that is the most efficient way to exchange capital — and products — while maintaining 100% order accuracy and next-day delivery. WAYV serves more than 85 percent of licensed cannabis retailers, partners with more than 80 brands in California, and WAYV customers can immediately take advantage of the benefits of this new solution. To learn more, visit www.wayv.com.
WAYV is the leading logistics and e-commerce platform helping cannabis brands and retailers solve their logistics, compliance and everything else needed to build your business. WAYV serves over 85% of licensed cannabis retailers in California, partners with over 80 brands, guarantees next-day delivery, provides digital payment and financing options, and real-time data for inventory and sales, providing new and valuable transparency into the cannabis supply chain.
About Hypur :
Established in 2014, Hypur is a payments, banking, and compliance technology for cash-intensive industries like cannabis, CBD, and money services businesses. With features such as Face ID, Touch ID, and auto check-in, the Hypur app dramatically improves the in-store payment process for both consumers and merchants. Hypur can also be used for order-ahead, delivery, online, and business-to-business transactions. Financial Institutions benefit from Hypur’s streamlined reporting and document management, facilitating compliance with local regulations.