Transparent, compliant and totally aboveboard: At last, a payment processing solution that checks all the boxes, because it's bank-backed
This is a truly exciting development. KM Processing can now offer your business traditional, bank-backed merchant services that insure total convenience for your customers and total compliance for you. Now you can accept payments like the rest of the world without nagging worry or anxiety.
The solution is true PIN Debit Processing.
It pulls payments directly from the customers' account and deposits them into your business bank account. Because it's backed by a bank, it offers all the openness and transparency of a traditional merchant account, with the one limitation you might expect — it only allows debit card transactions. But looking forward, you should also know that when the federal legal policies change, the transition to credit cards will be simple and seamless. Here's the bottom line: No work-arounds, no smoke and mirrors, no bull.
True PIN Debit means simple, frictionless, and secure payments to promote the sustainability of your business.
Please note. PIN Debit is radically different from the Cashless ATM. Here's how the two solutions stack up against each other.
- Customer pays no Convenience fee
- Full acquiring bank disclosure and complete\transparency.
- Frictionless Checkout Process
- On average, sales increase by 25%+ versus cash or ATMs
- When there is federal change, you can transition to credit cards seamlessly.
- No contract necessary.
- No early termination fees levied.
- True DBA and business address on descriptor and receipts
- Bank approved cannabis program fully transparent
- Sales must be rounded up to the nearest $5, $10 or $20. Budtender must provide change.
- Convenience fee is tacked on, usually along with an out of network fee.
- Most often, no disclosure of acquiring bank.
- Checkout requires explanation
- Sales, on average, increase only 18% versus cash
- New merchant account required for credit cards upon federal change
- 3 to 5 year contracts usually required
- High early termination fees are customary
- DBA is disguised — false address information is common
- Cannabis transactions/ATM placements hidden from bank