Paying and Getting Paid for Wholesale Cannabis Just Got a Lot EasierProduct Resources • July 26, 2022
Simply paying and getting paid for inventory in the wholesale cannabis industry has long been a struggle for brands and retailers. We’re here to help with LeafLink Payments, offering simple, digital payment and financing solutions for your business.
It’s clear that paying and getting paid for wholesale cannabis is a struggle. The industry will continue to face these challenges caused by a lack of access to traditional payment solutions (as cannabis continues to be a Schedule 1 substance), so we knew we had to find a solution.
LeafLink Payments is our answer to the challenges faced by operators when it comes to transacting business-to-business. Buyers and sellers can pay and get paid when they want, and gain immediate access to working capital. Once we incorporated LeafLink Payments into our centralized platform, it was an instant hit — more than 70,000 transactions (including extensions) and over $900 million in volume has been executed on the platform since launch.
Simplify Operations To Grow Faster
Whether you’re a buyer or seller, you need access to working capital to grow your business. In an industry primarily run with cash and checks, that can be hard to come by. Our offering directly increases your cash flow and ensures that it’s timely and predictable. You get quick and efficient access to funds, making it a lot easier to reinvest profits into the growth of your business.
Here’s how it works. LeafLink Payments allows sellers to get paid upon delivery while offering net terms and payment extensions to buyers - without the traditional risks of operating a cash business. We work directly with each buyer to manage payment collection, and sellers get paid upon delivery no matter when the buyer makes final payment. Simply put, sellers get paid faster and never have to worry about collections and buyers gain more flexibility and buying power.
LeafLink Payments also allows you to digitize and streamline your AP/AR within a single dashboard, which makes life a lot easier for your administrative staff. But none of this really matters without reliability, security, and compliance and we have those covered as well. Payments processed through LeafLink are backed by trusted financial institutions, and we’ve raised a $250 million debt facility in order to provide this critical liquidity to the industry.
Start Paying and Getting Paid Digitally Today
It often takes a lot of back and forth to get started with solutions that make a significant positive impact on your business. If your operations aren’t streamlined, every day is costing your business. Think inefficient workflows, error-prone manual efforts, disparate reporting, cash lost in transit, and more — that's why we’ve designed a fast, simple, and secure process to get started with digital payments in LeafLink.
Onboarding for LeafLink Payments can be done in under 10 minutes, and we’ll pre-fill out as much information as we can to make it as streamlined as possible. To get started, all you have to do is toggle over to Payments in LeafLink and follow the steps.
Forward-thinking businesses are already digitizing their payments, and we’re excited to expand this offering to additional markets across the country. We want everyone to have access to powerful payment solutions, because when you succeed we all succeed.
Ready to digitize your payments? Toggle over to the Payments portal in LeafLink to get started!