August 10, 2022 – Americus, GA – CannabisBPO, a specialty provider of contact center solutions for the cannabis industry is pleased to announce a partnership with MobiusPay, Inc., an organization that has been providing payment services to digital and brick and mortar businesses for over a decade, especially those deemed high-risk by the financial institutions and card brands.
Marshall Ogen, CannabisBPO VP Business Strategy states, “We continued to hear stories about industry contacts having their merchant accounts shut down, and the stress that disruption places on their business, brand, and customer journey. As a solution provider, we searched for a proven leader in the merchant services sector to introduce to our clients and industry contacts.” Dan Berman, CannabisBPO CEO outlines, “CannabisBPO recognized an industry-wide problem, and sought to identify and vet a unique solution to it. The problem is that the biggest payment processors out there, the Payment Service Providers, or PSPs, are running algorithms, and those algorithms are crawling every merchant’s digital storefront for compliance issues. In the cannabis space, words like “Cannabis” or “Marijuana,” or “THC,” are innocuous marketing terms and industry jargon. But for the algorithms, which are not remotely intuitive, they’re red flags. And when those red flags get tripped, credit card processing stops. These algorithms don’t recognize that the merchant their crawling only sells grow lights or manufactures hydroponics. It’s a huge risk that companies in our industry are dealing with every day. And it’s one of several reasons that payment processing and merchant services, more broadly, are at the forefront of cannabis industry conversations. MobiusPay is that solution.”
MobiusPay offers a “white glove,” hands-on approach to merchant services. This makes establishing and maintaining a merchant processing account faster and easier for every CBD business. MobiusPay also provides low-risk merchant accounts to businesses in the industry that do not touch the plant but are vulnerable because their sales and marketing materials contain cannabis-related jargon.
Per MobiusPay CBDO Todd Glider, “We’re honored and excited to call the team at CannabisBPO partners and friends. We look forward to working together to bolster an already strong business community. It is the wild west out there,” he continued. “That means you can count on boundless innovation and, unfortunately, a fair amount of mischief. Cannabis companies are already subject to so much scrutiny, and so much confounding ambiguity. The last thing you want to do is get involved with a payment services organization that cuts corners or skirts the rules, or simply doesn’t understand the guidelines unique to high-risk processing.”
According to MobiusPay CEO Mia Hyun, “MobiusPay has been providing merchant services for more than 12 years, especially to businesses deemed high-risk by the financial institutions and card brands. It has allowed us to cultivate direct relationships with numerous acquiring banks, and this is crucial when it comes to the Cannabis space. The 2018 Farm Bill made the sale of CBD and other cannabis products containing .3% THC or less by volume legal, federally. Nevertheless, few U.S. banks are willing to provide CBD businesses with merchant accounts. MobiusPay already has direct relationships with three of them, and it’s a number that continues to grow.”
One of MobiusPay’s most popular services is the financial analysis of any merchant’s credit card processing statements. If you’re not in the business of payments, those statements come across like a black box, making it impossible to glean any business intelligence from them. Yet, there are costs and fees associated with every transaction, and you should know where the money’s going and why it’s going there. To celebrate its partnership with CannabisBPO, MobiusPay is waiving its fee for this service. To receive a free financial analysis of their processing statements, all merchants must do is mention CannabisBPO when they reach out to MobiusPay.
Per Todd Glider, “Redundancy in your processing, for the purpose of risk mitigation, that is another important message we’re championing in the cannabis space. MobiusPay is not suggesting that anyone jettison their current processor, even if it’s a giant, one-size-fits-all processor that employs an unintuitive algorithm. What we are saying is that, at a minimum, you need a backup processing solution. You need redundancy. If your account gets frozen, if you suddenly can’t accept credit card payments, the results are always disastrous. That’s why we say, ‘Without redundancy, without a backup processor, you’re living in Hurricane Alley without a generator.’”
CannabisBPO is a specialty provider of contact center solutions for the cannabis industry. With locations in Canada and the US, the company offers outbound and inbound contact center services in a 24/7 setting. The company’s core service channels are text, email, mail, phone, chat, and social media for customer service, sales, and technical support projects. They currently provide services to leading LPs, MSOs, regional dispensary groups, device companies, CBD brands, industry conferences, and more. CannabisBPO helps cannabis companies drive revenue and mitigate risks. For more information, visit CannabisBPO.com. Follow us on Facebook, Instagram, LinkedIn, and Twitter.
MobiusPay, Inc. is a US-based global financial services organization that is committed to empowering individuals and businesses. For more than a dozen years, MobiusPay has leveraged state-of-the-art secure billing technology, long-standing relationships with financial institutions and award-winning customer support to provide merchant processing and payment solutions to brick and mortar and digital businesses around the world.
VP of Human Resources & CCO email@example.com www.cannabisbpo.com
CBDO Todd.Glider@MobiusPay.com MobiusPay.com