Green Check (GC), a fintech provider of financial services solutions and industry insights in the cannabis market, today announced a partnership with Payment Alliance International (PAI), Powered by Brinks, to deliver ATM solutions to the cannabis industry. The partnership will help PAI reach more operators via Green Check's network of cannabis-friendly financial institutions.
The partnership continues Green Check's commitment to expanding access to financial and business services for the cannabis industry and the tens of thousands of legal, state-licensed operators looking for reliable providers and services.
According to Kevin Hart, founder and CEO of Green Check, more than 70% of the industry's $7.8 billion processed over the last 12 months was cash-based. Based on data from the 9,000 cannabis businesses that use the Green Check Connect marketplace, cash currency still holds the lion's share of transactions in the industry. So, he says it is 'imperative to have reliable, trusted integrated ATM cash management solutions that support cannabis operators' growth and success. We're excited to partner with PAI to do just that."
Watch: Kevin Hart: We Need to Keep the Good Money In and the Bad Money Out of Cannabis
PAI is one of the largest ATM portfolio management tools and services providers in the U.S.
"In an environment where operators are uncertain which digital payment solutions are going to be reliable or available, the one constant is cash, meaning a cannabis business cannot have cash disruptions and unreliable ATMs without directly and dramatically impacting their customers and their bottom lines," says David Dove, CEO of PAI. "PAI solutions enable consumers and businesses to have reliable access to cash, real-time visibility to transactions and revenue, as well as comprehensive reporting to meet compliance requirements. We want to create more transparency, normalize the industry, and assure anyone can access cash when needed."
