MJBiz Buyers Guide: Retail Strategy 23 - 23
MJBizDaily Buyers Guide Retail Strategy
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Dispensaries that purchase an ATM have an opportunity to reclaim the expense through surcharges. Photo by Cindy Tang
IN-STORE ATMS AND CUSTOMER CASH
SOLUTIONS
While 39 states have legalized some form of marijuana, cannabis remains largely a cash-only
industry. The lack of credit card processing continues to negatively impact retail businesses and
consumers looking for convenient ways to pay for their orders.
Investing in a cash-dispensing ATM (not to be confused with cashless ATMs) can improve business at
a dispensary or adult-use marijuana store.
According to industry experts, implementing an ATM should be a no-brainer when retailers develop
business plans.
" Cannabis retailers should consider obtaining an ATM well before opening their doors for business, "
advises Waldo Banks, vice president of sales and marketing at NationalLink, an ATM service provider
for retail businesses. " If a shopper is forced to leave the store to get cash, the likelihood of them
returning is highly unlikely. "
According to Banks, 40 million Americans are considered " underbanked, " meaning they don't utilize
the traditional banking system and instead operate with cash.
" The demand for ATMs will continue to exist despite the proliferation of digital wallets and cash
apps, " Banks adds. " Banks are closing branches nationwide, and ATMs become the local branch for
having access to cash. "
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MJBiz Buyers Guide: Retail Strategy 23
Table of Contents for the Digital Edition of MJBiz Buyers Guide: Retail Strategy 23
MJBiz Buyers Guide: Retail Strategy 23 - 1
MJBiz Buyers Guide: Retail Strategy 23 - 2
MJBiz Buyers Guide: Retail Strategy 23 - 3
MJBiz Buyers Guide: Retail Strategy 23 - 4
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