Compliant with FinCEN and the Bank Secrecy Act
Since the recession of Cole Memorandum on January 4, 2018, it has become even harder for banks to offer basic financial services to companies involved in the legal cannabis industry, due the perceived risk of being prosecuted for breaking federal law.
This step backward has had to be met by a step forward by innovative companies looking to provide the cannabis industry with the financial tools it deserves.
All transactions, including credit and debit card payments, made using LINX’s payment systems are compliant with FinCEN and the Bank Secrecy Act. By using our products your legal cannabis business will be fully compliant with federal law, and will minimize scrutiny from FinCEN or any other federal government entities.
We have spent over four years working with legal and technical experts to develop our payment systems and products, in order to achieve our aim of bringing legitimate financial services to the cannabis industry, to enable its continued progression.
A standardized purchasing process
By standardizing the purchasing process for cannabis industry stakeholders, and establishing an industry-wide, cost-effective flat transaction fee, LINX is aiming to modernise the industry and bring it into a more efficient and financially stable era.
Our payment system remits real-time sales tax and applicable excise payments, increasing financial support and streamlining payments processing for all parties.
The level of our research and dedication towards creating a product fully compliant with federal law has lead us to become the primary provider of merchant credit and debit merchant processing services for dispensaries in the United States.
Contact LINX today to discuss how your dispensary can adopt our merchant payment process services, and how by using our products you can make bill payments and invoicing far simpler, make your working environment safer for customers and employees, and attract new customers with a card-based payments system removing the need for point of sale cash transactions.