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.
Hypur Payments, the signature product of Hypur, is safer than using cash, faster than using an ATM and far more credible than any other payment options like the stored value systems and cryptocurrency, to the customers.
Hypur, a Scottsdale-based start-up that offers technology to the financial institutions looking to work with highly regulated industries such as marijuana dispensaries and check cashiers, has joined hands with Temescal Wellness, a leading vendor of medical cannabis, to launch Hypur payments at their retail locations.
Hypur Payments, the signature product of Hypur, designed to take the cash payments out of the equation is extending a secure and reliable way for the customers to pay for cannabis. This electronic payment method is safer than using cash, faster than using an ATM and far more reliable than any other payment options like the stored value systems and cryptocurrency, to the customers.
Through developing this direct account-to-account transfer method, Hypur emphasizes its commitment towards the customers again, by keeping their personal information safe, unlike other cannabis payment options. To ensure customer protection and prevent fraud, Hypur uses advanced methods such as Face or Touch ID and a 4-digit Personal Access Code (PAC).
Hypur, which was founded by a team of banking compliance and software veterans in the year of 2014, has helped many financial institutions in Colorado to serve a number of cannabis businesses in the state. This payment and banking technology startup also serves cash-intensive businesses, like gun and ammunition shops, payday lenders, off-track betting parlors, and pawn shops as well.
Hypur provides effective tools to companies that are struggling for credibility and acceptance by the financial institutions. As a firm that help companies come to the forefront in their respective sector, it was featured as one of the Top 10 RegTech Solution Providers – 2018 in Banking CIO Outlook magazine.
“We are striving to improve our technology and to deliver the industry best services to our clients,” said Michael J. Sinnwell, Jr., the president & COO at Hypur. He also pointed out the minimal qualities a financial institution should possess to finance the regulated industries.