PayQwick is an electronic payment hub where you can pay and get paid electronically. PayQwick’s mission is to bring well-established, proven payment processing, banking services and regulatory compliance to the state-legal cannabis industry, making it safer and easier to do business. PayQwick serves state licensed cultivators, manufacturers wholesalers, distributors, dispensaries and retailers.
The biggest issues facing the marijuana industry today focus on how to manage the vast amounts of cash generated by marijuana sales in light of the U.S. Department of Justice’s enforcement priorities, as outlined in the memos issued by Deputy Attorney General James M. Cole and the guidelines issued by the U.S. Department of Treasury Financial Crime Enforcement Network (FinCEN).
The PayQwick platform solves those issues, enabling LEGAL, BANKABLE marijuana commerce. PayQwick is the only company that solves the legal, cash and compliance challenges faced by the marijuana industry by providing:
- Legal electronic payments, allowing for cashless transactions;
- Cash management services, reducing the risk of violent crime; and
- Regulatory compliance audits, ensuring compliance with state law and reducing the potential for involvement by criminal enterprises, gangs and drug cartels.
As the only federally registered and state licensed financial institution to handle marijuana transactions in the U.S., PayQwick makes cash generated from legal marijuana transactions safe and compliant for deposit into any bank or credit union. PayQwick also has established itself as the Trusted Advisor to state legislatures and regulators who have been tasked with regulating marijuana commerce.
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