Press

Hypur’s banking and payments technology has been profiled in many publications and our experts are frequently quoted in articles from national and local publications. We have included select Hypur press mentions below.

Hypur-Temescal Partners to Launch Advanced Hypur Payments

The Banking CIO Outlook team shares details about Hypur Payments, the signature product from Hypur. The article explains how using Hypur is faster and safer than cash transactions at marijuana dispensaries such as Temescal Wellness.

Banking on CBD: What’s the Deal With CBD Payment Processing?

CBD Hacker interviews Tyler Beuerlein, Hypur EVP of Business Development, about the challenges of CBD related banking and payment processing. He explains that CBD is legal but highly regulated, with significant regulatory compliance burdens.

Making Banking Easier

My Tech Mag interviews Michael J. Sinnwell Jr., Hypur Chief Operating Officer, about the challenges of cannabis related banking and compliance and what the future holds for Hypur. Hypur’s unique combination of Compliance-as-a-Service (Caas) and Payments-as-a-Service (PaaS) models is described as keeping financial institutions in a continuously proactive, rather than reactive, environment while conducting Marijuana Related Businesses (MRB) transactions.

Cutting Out the Cash for Medical Marijuana

ABC 5 News in Cleveland highlights the problems with cash in the medical marijuana industry. In particular, the segment shows how Hypur makes purchases safer, particularly for disabled patients who feel at-risk carrying cash into dispensaries.

Why Cannabis Banking is About to Go Boom

The Bluntness interviews Tyler Beuerlein, Hypur EVP of Business Development, about the challenges of getting a cannabis bank account and how federal legalization would impact financial institutions. He compares the regulatory compliance burden for the cannabis industry to that of money service businesses like pawn shops or payday lenders, and that the main thing he has to do is educate institutions about how to bank the industry.

Hypur: Enabling Banks and Credit Unions to Bank Highly Regulated Industries

Ganjily interviews Tyler Beuerlein, Hypur EVP of Business Development, about how Hypur helps banks and credit unions transparently bank highly regulated industries like cannabis. He highlights the ways Hypur works with financial institutions as well as merchants and even consumers to facilitate transparent transactions and greater regulatory compliance.

Hypur Named Top 10 RegTech Provider of 2018

Banking CIO Outlook, using a panel comprised of CEOs, CIOs, VCs, and the Banking CIO Outlook’s editorial board, selected a list of the top RegTech solution providers. Hypur was named a top 10 provider, with the company leveraging innovative technologies and strategies to drive client success.

Hypur Named a Top Fintech of 2018 by CB Insights

CB Insights named Hypur a top fintech for 2018 in the Payments Processing and Networks category.

Cannabis Credit Unions Curb Cash Carrying

American Legal News interviews John Vardaman, Hypur EVP and General Counsel, about credit unions providing banking services to cannabis businesses. His opinion is that credit unions have more regulatory certainty than banks because the National Credit Union Administration officially recognizes the FinCEN guidance as the criteria for assessing institutions providing banking for the marijuana industry.

Cannabis Banking is Possible

Cannabis Magazine interviews Tyler Beuerlein, Hypur EVP of Business Development, about cannabis banking and how Hypur helps financial institutions provide banking service to cannabis businesses. He showcases how the team that built Hypur used knowledge from working with other cash intensive industries to solve the major gaps and pain points of Marijuana Related Businesses (MRBs), particularly by streamlining the paperwork and regulatory compliance elements.

Feds Should Be ‘Banging the Drum the Loudest’ for Cannabis Industry Banking

National Law Journal interviews John Vardaman, Hypur EVP and General Counsel, who explains how cannabis banking provides visibility to the rapidly growing, multibillion-dollar cannabis industry. He clarifies the benefit of government increasing access to banking services because it would help the marijuana industry pay taxes.

Bank on It: Scottsdale Firm Offers Options for Cash-Heavy Cannabis Industry

Phoenix New Times interviews Tyler Beuerlein, Hypur EVP of Business Development, as part of a feature article showcasing how Hypur helps financial institutions to compliantly bank cannabis businesses. In particular, the article emphasizes Hypur’s unique approach of primarily working with financial institutions to address the fundamental reasons why banks are reluctant to accept funds from cannabis proceeds.

Hypur: Providing Payment Solutions to Those Banking the Cannabis Industry

Cannabis Compliance and Packaging Magazine highlights how Hypur’s cannabis banking software helps banks and credit unions serve the cannabis industry, enabling secure and legitimate electronic payments for dispensaries. The article articulates the varied banking climate from state-to-state, and how different providers can cause greater issues with compliance for businesses, with a recommendation to do things “by the book”.

Cannabis banking regulatory tech is ready for its moment

American Banker features Hypur in an article about startups providing cannabis banking regulatory technology for financial institutions that serve state-legal marijuana businesses. The write-up underlines Hypur’s focus on compliance tools, particularly transaction analysis and transaction management for business-to-business and consumer-to-business transactions.

LA Times – Donald Trump and his stance on Marijuana Related Businesses

The LA Times quotes John Vardaman, Hypur EVP and General Counsel, in an article about the impact the rescission of the Cole memo has had on banking of the marijuana industry. Vardaman’s quote is that little, if anything changed as almost every US attorney in states where marijuana is legal decided to apply the same principles as the Cole memo.

Cannabis Dispensary Mag. – Cashless Realities

Cannabis Dispensary Magazine mentions Hypur as an option for dispensaries looking to reduce cash payments. Hypur is described as convenient for consumers, as well as decreasing their bank fees.

Despite DOJ Actions, Lots of Opportunity for CUs in Pot Banking

CU Journal recaps a panel about marijuana banking opportunities for credit unions that took place at the 2018 National Association of Credit Union Service Organizations (NACUSO) annual conference. John Vardaman, Hypur EVP and General Counsel, was on the panel and shared his thoughts, particularly that the impact of the rescission of the Cole Memo was less than anticipated, with little changing for the industry.

10 Best Tech Startups in Scottsdale

The Tech Tribune named Hypur one of 2019’s Best Tech Startups in Scottsdale. The award was based on several factors including: revenue potential; leadership team; brand/product traction; competitive landscape.

Oregon credit union, tech firm to offer marijuana banking services

Marijuana Business Daily reports on the partnership between Oregon-based Wauna Credit Union and Hypur to allow the financial institution to service marijuana-related companies. Hypur is said to provide technology to supplement Wauna’s compliance processes and electronic payments.

Q&A: Former DOJ Attorney Dissects AG Sessions’ Marijuana Memo

The Recorder includes John Vardaman, Hypur EVP and General Counsel, in a Q&A about the rescission of the Cole Memo and its potential effects on banking for cannabis businesses. Vardaman expresses his skepticism about rolling back the guidelines as the situation has changed, with more jobs, money, and tax revenue in the cannabis industry.

Wauna Credit Union to serve cannabis-related businesses

Local papers The Chief and The Chronicle report on the partnership between Oregon-based Wauna Credit Union and Hypur. In working with Wauna, Hypur is described as a sole-source solution that will enhance compliance efficiency and effectiveness in cannabis banking without having to rely on outsources or third-party options.

California Weed Entrepreneurs Will Make $5.2B in 2018 with Almost No Banks to Put it in

Forbes mentions Hypur in this feature about cannabis banking. Tyler Beuerlein, Hypur’s EVP of Business Development, is quoted saying that fewer than 25 banks and credit unions have at least 15 marijuana-related accounts. Hypur is described as helping to provide the transparency needed for compliance officers and their regulators.

CannaBrunch: Interview with Hypur’s John Vardaman

Cannabrunch interviews John Vardaman, Hypur EVP and General Counsel, about cannabis banking and the potential impact the current administration could have on the cannabis industry. Vardaman focuses on fundamental need for businesses to have a bank account to do payroll, as well as send or receive payments. As a result, he stresses the importance of transparency in the marijuana industry.

Not-so-high Anxiety: States Move Fast to Protect Pot Industry

The LA Times quotes John Vardaman, Hypur EVP and General Counsel, in an article about the Trump administration’s uncertainty related to state-legal cannabis. Vardaman is quoted as saying that the potential threat could be a blessing, ultimately creating an industry that takes compliance with the rules more seriously instead of cutting corners.

Hypur’s John Vardaman on CNBC’s Nightly Business Report by CNBC

CNBC interviews John Vardaman, Hypur EVP and General Counsel, at MJBizCon in DC. He explains that banks need to hear from the Trump administration about how they can continue to permissibly bank this space.

Former Justice Department Official: Trump’s First 100 Days Signal Reasons for Optimism for Marijuana Industry

The Washington Business Journal interviews John Vardaman, Hypur EVP and General Counsel, who explains there are reasons for the cannabis industry to be optimistic despite Jeff Sessions’ staunch anti-marijuana views. Vardaman’s stance is supported by the fact that the Trump administration made no actions against the marijuana industry in the 100 days in office.

A Solution for Banking Cash-Intensive Businesses: Lose the Cash

American Banker interviews John Vardaman, Hypur EVP and General Counsel, about his decision to leave his role as an anti-money laundering attorney at the DOJ to join Hypur, and how Hypur’s technology helps banks and credit unions serve cash intensive businesses including the cannabis industry. Vardaman emphasizes the importance of bringing cash-intensive businesses into (or back into) the banking world because their essential exile has the potential to breed crimes like tax fraud.

Hypur General Counsel on CU Broadcast – Status of Marijuana Banking

CU Broadcast interviews John Vardaman, Hypur EVP and General Counsel, about the status of marijuana banking. He explains that marijuana banking is permissible and profitable, and that the stigma of legal cannabis is diminishing as more banks get involved.

Why Legal Weed Companies are Still Getting Dumped by Financial Service Providers, Payment Processors

Kindland quotes Michael J. Sinnwell Jr, Hypur COO, in an article about the challenges financial institutions and electronic payment processors face when serving cannabis companies. Sinnwell explains that even if cannabis were to become legal at the federal level, or if marijuana were rescheduled by the DEA, the cannabis industry would remain a high-risk business space because of the cash-intensive nature of the industry.

Voices IRS Goes Green: Hashing Out Payments from the Marijuana Industry

Accounting Today mentions Hypur in an article about challenges cannabis businesses have in paying taxes and proving they are operating within their state’s cannabis licensing regulations. Hypur is credited with helping cannabis companies and financial institutions stay compliant and improve legitimacy.

Cannabis Banking in California: Cole Memo Co-Author’s Recommendations

MJINews summarizes recommendations from California’s Cannabis Banking Working Group meeting, including ideas from John Vardaman, Hypur EVP and General Counsel. Vardaman’s advice includes embracing the Cole and FinCen memos as well as speaking with one voice so that marijuana related businesses can literally take the guidance to the bank.

Cash as Budding Problem and Pot-Hole (for Banks)

PYMNTS.com interviews Michael J. Sinnwell Jr, Hypur COO, about the cannabis industry’s reliance on cash and how Hypur can help financial institutions provide banking services to marijuana related businesses. He compares the marijuana industry to the gun and ammunition sector, pawn shops, jewelry stores and even auto dealerships because of the issues prevalent in cash-intensive industries.

As Marijuana Sales Grow, Start-ups Step In for Wary Banks

The New York Times mentions Hypur in an article about start-ups providing technology to help financial institutions serving cannabis businesses. Hypur is described as a software for banks that geo-locates each purchase to prove it was done in an authorized dispensary.

Banking for Cannabis Companies Is About to Get Easier Thanks to This Startup

Inc.com (syndicated to Slate.com) interviews Michael J. Sinnwell Jr, Hypur COO, about how Hypur is helping to convince banks that it is safe and profitable to work with cannabis businesses. Key features that are highlighted in the article are how Hypur can help to automate compliance and reduce paper chasing as well as ensure cash transactions aren’t laundered funds.

Technology Eases Pot Banking Pain

CU Times interviews André G. Herrera, Hypur EVP of banking and compliance, who situates Hypur as a solution for cannabis banking. Hypur is described as automating a financial institution’s processes such as tracking of cash, documents, and applications through a customized process.

Credit Union Times – Pot Banking Fight Continues

CU Times quotes André G. Herrera, Hypur EVP of banking and compliance, in this article about the need for regulatory compliance in the cannabis industry. Herrera explains that Hypur is trying to bring transparency to the cannabis industry, making regulatory compliance easier and more automated.