Time is money – so why waste it with inefficient payment options?

by | Feb 26, 2021

Which is a worst-case scenario here? 

Your cultivation operation works out a lucrative sales transaction, but afterward you have to spend a lot of aggravating time and effort chasing down all the details of the payments, never quite sure when the money will arrive.

OR

You’re a dispensary purchasing manager trying to get your hands on a particular cannabis product you know will sell well with your customers. But you’re prevented from making the purchase as your transaction is rejected because – surprise! – it involves cannabis. Even worse, you might be facing an entire banking-service shutdown depending on the payment processing platform you’re using for the transaction.

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The truth is, no matter what side of a sale you’re on, waiting on delayed payments means lost time. And in today’s fast-moving cannabis industry, lost time is lost money. And lost money in this kind of highly regulated business also can be financially devastating in ways more severe than in other business spaces.

Thankfully, Leaf Trade provides a unique digital payment benefit for its clients, one that is a paradigm shift in how payments are made and received, and it’s one that delivers peace of mind for both sellers and buyers.

Neil Block VP of Finance Leaf Trade

Gone are paper checks and/or cash, which can be an expensive way to run a business. And gone, too, is the wait for checks and paper currency to be delivered. 

For Leaf Trade customers who use Leaf Pay, the payment process is automated and simplified. Sellers don’t have to spend time collecting money, and buyers don’t have to devote hours to paying invoices and tracking them for record-keeping. Once Leaf Pay is set up the first time, it’s good to go.

Leaf Pay fully compliant with the stringent financial regulatory mandates of the industry. `

Plus, it’s completely secure to use and is built on a banking framework that is FDIC-insured and one in which your banking information is never shared with other parties.

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Leaf Pay allows Leaf Trade customers to manage all ordering, fulfillment and payment functions in one easy-to-monitor site. The first system that truly does everything at a flexible cost to the seller and free for buyers.

 

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It allows Leaf Trade customers to establish the payment terms they want, too. For example, users choose terms specifying payments as due on delivery – or they can choose Net 15 or Net 30 arrangements, as well. Then, once the buyer places the order and the seller accepts it, the payment term period begins. When the term period expires, payment is automatically transferred from buyer to seller. And any order in the future automatically reflects the same payment terms.

Leaf Pay is a system that is seamlessly integrated with accounting apps such as Quickbooks and cloud-based accounting services such as Sage.

Which is important for any company on any side of a wholesale cannabis transaction, There’s no additional bank accounts to open or manage, and Leaf Pay payments begin as soon as the system is activated. Nothing could be easier about setting it up and using it.

Leaf Pay is available to all Leaf Trade clients. Existing Leaf Trade customers can contact their Customer Success representative or email support@leaftrade.com. If you’re a cultivator or dispensary wanting to join Leaf Pay, request a free demo from the icon on our website, and a member of Leaf Trade’s sales team will reach out to schedule time with you to discuss Leaf Pay in more detail.