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The Benefits of Using Hypur for Cannabis Payments

Cannabis payments are in the news more now than ever. There are also more cannabis payment options than ever. With all the new payment options available, choosing the right solution can be tricky so we thought we would highlight some of the benefits of Hypur Pay.

Hypur Pay makes cannabis payments secure, reliable, and convenient. We spend so much time highlighting just how easy it is to use that you might not be aware of all the other benefits. Continue reading to find out more about Hypur’s myriad benefits:

Table of contents:

Make more money

Every business wants to make more money. Hypur increases your profits in three main ways.

  1. Individual ticket amounts go up when customers pay with a debit card or Hypur Pay. The average transaction increases by 18-20%, with tickets averaging over $90 depending on the market.
  2. Customers can check out faster with Hypur. As a result, your staff can help more people per hour, reducing wait times for customers in line.
  3. Reducing your cost of cash. Many retailers don’t realize that cash handling increases cost by over 15%, mainly due to labor. By reducing cash handling in your business, Hypur frees up your managers to spend more time on business objectives and improve customer experiences.

Hypur can also help you run a promotion. Partners who ran promotions with us saw 40% increases in revenue, helping you make even more money.

Safe and convenient for pickup and delivery

By removing cash from the equation, not only are drivers less of a target for criminals, but they also don’t need to worry about handling cash as much and encountering those germs. Consumers are safer using this option by eliminating the need to touch cash or make unnecessary visits to an ATM. Hypur’s safe checkout option further reduces contact with shared surfaces or devices. Orders can also be made on-demand if consumers forget to select Hypur as their payment method or they planned on using cash and decide to pay with Hypur instead.

Hypur has integrations with a range of software providers including Caliva, dutchie, and Jane, with many more being announced soon. Whether your technology solution is with an established software vendor or a newcomer to the market, Hypur can help you reliably accept payment for cannabis delivery. Hypur Pay™  is available nationwide, in recreational and medical marijuana markets.

People who choose to order cannabis delivery benefit from the convenience of paying with Hypur. There’s no need to go to an ATM or pay ATM fees, plus they don’t need to have large sums of cash in their home when the delivery arrives. Consumers can feel safe knowing that they are paying for products easily, improving their marijuana delivery experience when you accept Hypur Pay™.

Security you can trust

We take security seriously. Not only does Hypur adhere to the rigorous PCI DSS compliance requirements, but we also strive to go above and beyond to keep your data safe. We do this by treating all Personal Identifying Information (PII) the same way that we do payment card data. Whether we are transmitting or storing your name, date of birth, or other PII, we use the same bank-level security.

Our stringent security protocols require 256-bit or greater end-to-end encryption technology. Whenever you log in to Hypur, we require a TLS 1.2 or higher connection and only permit HTTPS connections. We also utilize infrastructure that spans multiple physical locations, all with N+1 or greater redundancy and live migration capabilities.

Reduce your chargebacks

Chargebacks can range from costly to ruinous. Hypur helps businesses avoid chargebacks and their repercussions by using ACH transfers for cannabis transactions. Consumers need to use their Personal Access Code (PAC), so these transactions are personally authorized.

Because Hypur takes compliance seriously and is fully transparent with our financial institution partners, Hypur transactions are clear on a consumer’s statement. This makes charges less confusing for your customers and reduces the likelihood that their bank or credit union will authorize a chargeback without a valid reason.

Hypur Pay integrates with top cannabis software providers

Hypur integrates with a variety of software solutions. Providing a seamless flow of information, these integrations eliminate the need to enter data in multiple platforms, streamlining your business.

For example, our integration with MJ Platform makes life easier for your budtenders and accounting team, offering electronic payments directly from your point-of-sale platform. Our integration with WAYV helps to streamline your supply chain, digitizing and normalizing what would otherwise be a chaotic process.

Hypur is easy to use

Best of all, Hypur is fast and easy to use. It’s a simple platform that makes for an improved experience for both merchants and consumers. See just how convenient it is:

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Strategic Guide to 

Cannabis Payments