Point of Banking
A relatively new concept in cannabis payments, point of banking functions similar to traditional ATMs, where a customer inserts their bank card and enters their personal identification number (PIN). However, instead of giving back cash, the transaction is electronic, providing proof that cash has been debited from the customers’ bank account and deposited into a business account. This process — especially if integrated with a dispensary point of sale — feels like a traditional debit transaction for customers and streamlines checkout. See our guide to learn more about point of banking and the rules of cannabis payment processing.