LeafLink Direct Payments Expands to Six StatesProduct Resources • July 20, 2022
Direct Payments and our new digital onboarding experience join Flexible Payments as part of LeafLink’s Payments Suite.
In an effort to streamline the entire wholesale cannabis supply chain, with payments at the core, we're excited to share that we've officially launched LeafLink Direct Payments in Colorado, California, Arizona, Massachusetts, Ohio, and Nevada this month.
The cannabis industry is, in and of itself, a revolution. Yet, as fast as cannabis is advancing in buyer/seller relations, marketing, and distribution, there is still a very inherent hurdle that most of us aren’t addressing – wholesale payments.
Direct Payments enables buyers and sellers to increase the speed and security of wholesale transactions. Our solution addresses operational pain points experienced by buyers and sellers who rely on cash transactions, allowing them to seamlessly send and receive compliant ACH payments.
For buyers, you can effectively manage cash flow without the uncertainty associated with the history of cannabis transactions: mailing and clearing checks. Sellers, on the other hand, can leverage Direct Payments to manage payment, which was once purely manual cash collections, while lowering transaction costs and expediting time-to-cash timelines. Our Direct Payments offering is complimentary for all LeafLink customers until next year.
"LeafLink's Direct Payments solution has helped us to streamline both invoicing and payments across the state of Ohio. Payments are received quickly and are invoice-specific, tied to the individual customer. This new solution has optimized our operations by simplifying our accounting records and receivables," said Richard Comstock, Lab Director at Purpose Leaf.
Our payments portal is now nested within our new digital onboarding journey for all users, which verifies and approves businesses for LeafLink Payments in real-time through an intuitive self-serve onboarding experience. With this new experience, it's a fast, simple, and secure way for cannabis operators to start leveraging LeafLink Payments solutions without the manual account setup process that existed previously.
The expansion of Direct Payments is another step towards LeafLink’s mission to revolutionize the way cannabis operators transact, particularly in partnership with Flexible Payments, our original Payments solution. Flexible Payments allows sellers to offer buyers risk-free terms while still receiving their payment at the time of delivery.
“Between Direct and Flexible Payments solutions, LeafLink offers a range of holistic digital payments and purchase financing services that simplifies cannabis business operations,” said Ryan G. Smith, CEO and Co-Founder of LeafLink. “Our Direct Payments service gives cannabis operators a seamless, simple, and intuitive way to manage digital transactions. The LeafLink team is excited to offer such a necessary solution to our customers across six states and hopes to help more cannabis businesses realize their growth goals in the future.”
"LeafLink is in a unique position because we are solving for an industry that is very under-served. Whatever side of the equation you’re on in the B2B cannabis space, our goal is to fast-track your growth and efficiently give you the funds that you need. Part of being able to do that is offering a seamless onboarding experience for our customers,” said Harish Mukhami, Senior Vice President of Product for LeafLink. “I expect this will drastically shift the way cannabis operators view digital payments, which haven’t been widely adopted by the industry due to the cumbersome and manual nature of getting started. We’ve addressed that gap and are reducing that friction entirely so that customers can start transacting almost immediately.”
Reach out to firstname.lastname@example.org to learn how to digitize payments, access funds, and bring better predictability and control to your finances, all via LeafLink.