The cannabis industry has a variety of independent software vendors (ISVs) that provide important services to the entire supply chain. These can range from point of sale (POS) systems to track-and-trace or seed-to-sale software. Hypur is committed to connecting you with what you need, which is why we work closely with a range of ISVs. One such vendor is MJ Platform, formerly known as MJ Freeway, a leading seed-to-sale and POS technology for the cannabis industry.
Streamlined dispensary POS with electronic payments
Retail cannabis dispensaries require a lot of tracking and monitoring, over and above the sales processes that people expect in traditional retail environments. That’s why budtenders at most dispensaries have numerous screens in front of them, showing a variety of different software interfaces. Anything that can make the process easier makes for a smoother transaction for customers, as well as happier employees.
Combining Hypur with MJ Platform means that your budtenders won’t hassle with two systems. Hypur’s electronic cannabis payments work from the MJ Platform software. This means there’s no need to open another dashboard for payments, no need to count cash or make change. The seamless integration makes transactions simple, so your budtenders can tend to consumers quickly and easily.
The integration also makes life easier for your accounting team. They won’t need to hassle with batch uploads or complicated installations. Merchants can integrate through the Hypur merchant portal, adding Hypur to your MJ Platform solution. Streamline the accounting process with convenient electronic payments and reporting for in-store, e-commerce and delivery transactions.
Added compliance with seed-to-sale software
MJ Platform, powered by Akerna, is known for providing a seed-to-sale solution that goes beyond fulfilling state compliance requirements. The Hypur platform also strives to go above and beyond when it comes to security and transparency with financial institutions. As a point-of-sale solution for the cannabis industry, MJ Platform has a unique opportunity in integrating with Hypur to make it easier for banks and credit unions to work with dispensaries.
Hypur integrates with MJ Platform for invoice capture in real time. As a result, financial institutions are able to monitor their clients’ business, tracking sales and activity in real time. Not only does this help with their monitoring and tracking of any suspicious activity, it also makes ongoing enhanced due diligence (EDD) a less daunting task for banks and credit unions.
Banking the cannabis industry is expensive for financial institutions because of the degree of risk they take on, and the extent of their compliance burden thanks to the highly-regulated nature of cash-intensive businesses. The seamless integration of MJ Platform with Hypur makes this a more appealing prospect for financial institutions, helping to grow the cannabis industry.
An integration that just makes sense
It simply makes sense that convenient, efficient, safe electronic payments should be available seamlessly within a dispensary POS solution. When you’re ready to pay, it should be as simple as possible. With the seamless integration of Hypur with MJ Platform, you can offer your customers a sustainable payment method without adding any extra work for your budtenders or accounting team.