Aeropay, Flowhub Team to Offer ACH for Cannabis Sales –

Digital payments provider Aeropay has joined forces with cannabis sale platform Flowhub to offer ACH payments for more than 1,000 dispensaries using Flowhub’s software.

The companies said in a Thursday (April 28) news release that retailers who use Flowhub can now offer cashless payments at checkout, which can boost sales by more than 25% for each transaction, according to Aeropay data.

“Flowhub is a leading platform for cannabis retailers across the country, and this integration will allow thousands of businesses to offer a modern and efficient shopping experience,” Daniel Muller, CEO and founder of Aeropay, said in the release. “This partnership is a consequential milestone in Aeropay’s mission to help cannabis businesses efficiently scale by eliminating operational friction points.”

The companies said the integration makes checkout easier, as customers simply scan a QR code that links to their bank to complete their purchase without needing to use cash or a card.

Read more: AeroPay Enables Online Payments for Cannabis Dispensaries

Kyle Sherman, Flowhub’s founder and CEO, said the two companies are “committed to helping make cannabis products more easily accessible to consumers and reduce reliance on cash. This integration is a stepping stone for innovative payment processing of legal cannabis sales.”

Flowhub processes more than $3 billion in cannabis sales a year. In October of last year, the company landed $19 million in strategic funding from a group led by venture firms Headline and Poseidon, which included a personal investment from rapper/mogul Jay Z.

Around the same time, Aeropay teamed up with cannabis eCommerce provider Jane Technologies Inc. to enable digital payments through Aeropay for the more than 2,100 dispensaries and 300 companies selling products using Jane’s online marketplace.

See also: AeroPay Raises $5 Million To Expand Digital Payments In Cannabis Industry

In addition to the cannabis sector, Aeropay’s application programming interface (API)-based platform handles payments for restaurants, retail and technology firms and nonprofits, both in-store and online. The company said its presence in the cannabis business has seen substantial success, as that industry is poised to reach $130 billion by 2024, according to Aeropay’s calculation.



Plastiq - The Future Of Business Payables Innovation: How New B2B Payment Options Can Transform The SMB Back Office - April 2022 - Learn how all-in-one payment solutions can help businesses streamline B2B transactions and remove AP and AR management frictions

About: While over half of SMBs believe that an all-in-one payment platform can save them time and improve visibility into cash flows, 56% believe that the solution could be difficult to integrate with existing AP and AR systems. The Future Of Business Payables Innovation Report, a PYMNTS and Plastiq collaboration, surveyed 500 SMBs with revenues between $500,000 and $100 million to explore how all-in-one solutions can exceed SMBs’ expectations and help future-proof their businesses.


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.