BankLine and B4U Bring Crypto to Cannabis
MIAMI, August 30, 2022 (Newswire.com) - BankLine and B4U Financial have partnered to integrate B4U's proprietary global digital currency payment solution into licensed cannabis-related businesses' existing Point of Sale (POS) systems across the U.S.
A Seamless Digital Payments Solution
The B4U payment network easily integrates with an existing POS via API or may operate as an independent solution.
B4U's retail-centric POS digital currency payment network operates seamlessly on any internet-connected device, computer, tablet, or mobile phone, providing convenience for consumers to use Bitcoin for in-store, online, curbside, and home delivery payments. The "Text To Pay" feature allows customers a convenient, secure, and simple mechanism to collect outstanding balances by allowing clients to pay instantly, including a gratuity, from any device.
Advantages to the Retailer
- Attracts a key demographic wishing to conduct transactions with digital currency
- Fees charged to the customer
- No interchange charges to the retailer
- No chargebacks
- Eliminates cash transactions
- Bitcoin can be used as payment when Visa and MasterCard can not
- Settlements are guaranteed
- Settlements can be made in fiat or digital currency
- Comprehensive reporting through the B4U portal
- Complete tracking by POS operator, store, division, state, country, etc.
Advantages to the Consumer
- Eliminate the need to liquidate Bitcoin via an exchange
- Reduce conversion fees to customer
- Providing a "peer-to-peer" transaction removes the customer's tax implication if they were to convert their Bitcoin via an exchange and then use USD for payment
Bitcoin Gift Cards
B4U also offers a Bitcoin gift card which can be sent via email or text from a crypto ATM terminal, online or smartphone to a recipient anywhere in the world (excluding sanctioned countries).
Robust Reporting Portal
B4U provides merchants a robust reporting portal to ensure proper tracking of sales, payments, terminal ID, and additional information vital to their back office.
Implications For Medical Cannabis
In addition to medical cannabis, the U.S. continues to legalize the adult use of cannabis, now available in over 7,000 state-regulated dispensaries across the United States.
As digital currencies and cannabis continue to flourish, B4U's POS solution delivers a comprehensive payment mechanism for retailers, growers and consumers.
BankLine is led by Mark Ochab and brings experience from top Fortune 100 companies, federal agencies, and financial forensics firms. This cohesive blend of bank industry experience and compliance regulation affords BankLine the opportunity to offer customers unparalleled crypto-friendly banking services.
B4U is led by CEO T. Jack Williams, inventor of the electronic gift card, CEO of core pre-paid debit card processor, Global Payments SME, who has worked with many large merchants for payment processing. Mr. Williams founded B4U Financial in 2017. B4U Financial is the leader in the liquidity of cryptocurrencies. Consumers and businesses are benefiting from B4U solutions providing liquidity thru ATMs and merchants in the mainstream market.
About B4U Financial LLC
B4U Financial is a leading cryptocurrency services provider. The company offers a complete, end-to-end solution for bitcoin, USDT and USDC processing, including purchases, branded payment card loads, IBAN account funds transfers, B4U prepaid debit cards and a global platform designed to meet purchase and liquidity requirements.
For more information, please visit b4ufinancial.com.
BankLine is the only Crypto-friendly banking solution that offers a portfolio of redundant financial institutions willing to serve the varied needs of the crypto industry. BankLine's network of crypto-friendly banks and services helps mitigate the threat of bank discontinuance and provides ongoing, sustainable, and scalable banking and support services.
Each BankLine customer has a direct relationship at an FDIC-insured depository institution. The accounts are titled in the business entity's name and are exclusive for the entity's activity.
By contracting with more than 350 cash vault facilities managed by Loomis, Brinks, and Garda. BankLine's banks currently provide service to more than 29,000 BTM locations in the continental U.S., Hawaii, Alaska and Puerto Rico.
In addition, BankLine's partner banks provide over-the-counter services for online crypto companies.
For more information, please visit bankline.com.