SAN FRANCISCO--(BUSINESS WIRE)--#fintech--Stronghold and Treez have launched an integration, as a part of Treez Pay, that combines Stronghold’s payments infrastructure and Treez’s software for cannabis retailers to deliver a seamless, secure, and compliant transaction experience for consumers. The Treez Pay solution became operational in early April 2020, coinciding with COVID-19’s impacts, and has enabled contactless curbside sales and delivery.
Treez’s software helps merchants manage the end-to-end aspects of their cannabis retail operations, including seed-to-sale tracking compliance, inventory, analytics, employee and customer management, and order fulfillment. By embedding the payment functionality of Treez Pay in the current solution, it puts regulatory-compliant electronic payments within easy reach and enhances the overall safety and reputation of the cannabis marketplace.
“On the first day of our launch, we saw over a 50% adoption of Stronghold's payment solution,” said John Yang, CEO of Treez. “It was incredible and speaks volumes to the seamless workflow that we have built together. The convergence of digital payments in the cannabis space is long overdue, and I’m beyond excited about the future of a faster and safer consumer experience.”
The cannabis sector has faced a myriad of challenges: from complex regulation to restricted financial services access. Before the integration of Treez Pay, the limited options for electronic payments had either added user friction or were at risk of being shut down and leaving merchants to handle their order volume in cash.
Stronghold created a cannabis payments experience that eliminates the use of a third-party application or a separate login—an industry first. By embedding the ACH solution directly within the checkout flow, this Treez Pay solution allows merchants to maintain their brand presence for customers throughout the transaction. By rigorously meeting all financial compliance requirements, Treez Pay allows cannabis merchants to conduct business with the ease and functionality common to mainstream retailers.
“Cannabis merchants have been among the underserved and underbanked entities that are all too often left on the margins,” said Tammy Camp, CEO of Stronghold. “We’re driven to create flexible, robust financial technology infrastructures that can adapt to unique market needs, meet or surpass regulatory compliance, and promote access for participants across sectors, geographies, and socio-economic groups. We’re grateful that the partnership with Treez allows us to reach this marketplace during such a significant cultural turning point.”
As Treez Pay’s use expands, merchants, consumers, regulators, and critical industry partners all stand to benefit from Treez Pay’s robust, graceful technology designed specifically for the needs of the cannabis sector.
Treez is an enterprise, business management platform, serving the entire cannabis vertical from farmers to brands and retailers with our Point of Sale, Grow, Brand, and Data software solutions. Our fully integrated software ecosystem is at the epicenter of the most complex and demanding legal cannabis market in the nation, and specializes in operationalizing the demands of the modern cannabis supply chain.
Stronghold provides financial technology infrastructure and payment capabilities to underserved industries and markets with unique needs that require customized, comprehensive payments, and currency solutions. Stronghold specializes in highly regulated markets by building compliance functionality within the technology infrastructure. In addition to providing access to ACH payments, Stronghold also offers solutions for real-time payments and virtual payment networks for a broad range of markets and entities.