CANNABIS PAYMENT PROCESSING
Simple, secure, and payment processing for dispensaries.
This is a real solution to the banks pulling the plug on pin debit.
Our Payment Processing
Accept debit card
payments online & in-store
payments online & in-store
Integrated with WeedMart
Minimize the risk of human error & speed up the checkout process with a terminal that integrates directly with our WeedMart Commerce Solution
Unlike cashless ATM, or PIN debit which doesn’t always work, our transactions are for exact dollar amounts, and provides 100% card acceptance rates.
With the ability to accept Credit Debit & Mobile Wallets, Watch your sales grow—customers who use cashless payments typically spend up to 20% more per order than those who don’t
SECURE PAYMENTS FOR DISPENSARIES
Reduce the risks associated with cash management.
Point of Sale
How does it work?
Better Cannabis payment options
In the fast-paced world of digital finance, Rethink Financial emerges as a pioneer with its groundbreaking payment platform. By building its own payment rail and adopting MCC Code 6540, Rethink Financial redefines secure account funding and transactions. The platform’s commitment to adhering to Suspicious Activity Reporting (SAR) guidelines and filings as required under the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) rules, published by FINCEN through its guidance document, further cements its position as a trailblazer in the industry.
Understanding Rethink Financials’ Innovative Solution
A Proprietary Payment Rail:
Rethink Financial has taken a bold step by creating its own payment rail, allowing for greater control, security, and efficiency in processing transactions. This proprietary infrastructure sets the stage for a seamless and trust-enhancing user experience.
Built On MCC Code 6540:
By operating under MCC Code 6540, Rethink Financial aligns itself with rigorous regulatory standards. The code, which covers account funding, stored value card purchases, and prepaid load services by non-financial institutions, ensures compliance with AML rules and enhances transparency in all transactions.
SAR Guidelines and Compliance
Adherence to Suspicious Activity Reporting (SAR) Guidelines:
Rethink Financial takes the responsibility of combating illicit financial activities seriously. By following SAR guidelines, the platform actively monitors and reports any suspicious or potentially illegal transactions to the appropriate authorities, contributing to the overall security and integrity of the financial ecosystem.
Strengthening AML Compliance:
The integration of SAR guidelines into Rethink Financials’ operations enhances its AML compliance efforts. Through vigilant monitoring, robust record-keeping, and due diligence in identifying customers and transactions, the platform fortifies its defense against money laundering and fraudulent activities.
How Rethink Financial Differs from Crypto Currencies
Stability and Predictability:
Unlike cryptocurrencies, which are infamous for their price volatility, Rethink Financial offers users’ stability and predictability in their transactions. The platform’s focus on account funding and stored value card purchases ensures that the value of assets remains consistent and reliable.
Secure and Transparent Transactions:
With its blockchain-based approach and NFT-recorded transactions, Rethink Financial provides enhanced security and transparency. Users can confidently verify the legitimacy of their transactions, promoting a high level of trust among participants.
Catering to High-Risk Markets: The Cannabis Industry
Addressing Unique Challenges:
The cannabis industry, classified as high-risk due to legal complexities and regulatory hurdles, benefits from Rethink Financials’ payment platform. By operating under MCC Code 6540 and adhering to SAR guidelines, the platform streamlines cannabis transactions while maintaining strict compliance.
A Safer Financial Ecosystem:
Rethink Financials’ commitment to AML compliance and the prompt reporting of suspicious activities makes it a reliable partner for businesses in the cannabis industry. This contributes to a safer financial ecosystem for all stakeholders involved.
Ensuring Legitimate Transactions, Not Money Laundering
The Essence of Money Laundering:
Money laundering involves concealing the origins of illegally obtained funds through complex transfers to make them appear legitimate, thus evading detection by authorities. Rethink Financials’ practices are fundamentally different from money laundering, as its platform prioritizes transparency, accountability, and strict adherence to AML rules.
Transparency in Transactions:
Rethink Financials’ platform operates on a model where assets are not exchanged or liquidated. Instead, electronic ledgers are updated to denote the number of asset markers in relation to users and merchants. The underlying USD, held in BSA regulated and cannabis-friendly banks, remains unchanged. This approach ensures complete transparency and accountability in all transactions, eliminating the possibility of money laundering activities.
Regulatory Compliance and Industry Approval:
Rethink Financials’ innovative payment platform has undergone rigorous audits and gained approvals from major card networks, FINCEN, and its Acquiring & Sponsor Banks. This comprehensive approval ensures that Rethink Financials’ platform is not only reliable and secure but also fully compliant with the stringent requirements of the financial industry and compatible with the cannabis market.
Rethink Financials’ innovative payment platform represents a transformative leap in secure account funding and transactions for high-risk markets. By building its own payment rail, embracing MCC Code 6540, strictly adhering to SAR guidelines, and maintaining full compliance with federal and state regulations, Rethink Financial fosters an environment of trust, transparency, and regulatory compliance. As it continues to revolutionize the financial landscape, Rethink Financial empowers businesses and users alike, providing a solid foundation for seamless and secure digital finance solutions in an ever-evolving world. By meeting the unique needs of the cannabis industry and other high-risk markets, Rethink Financial ensures that legitimate transactions thrive, safeguarding the financial ecosystem from money laundering and fraudulent activities. With its commitment to transparency and compliance, Rethink Financial stands as a beacon of trust and innovation in the fast-growing landscape of digital finance. The platform’s dedication to working exclusively with BSA regulated and cannabis-friendly banks further solidifies its role as a responsible and reliable partner for businesses in high-risk industries.