BPay from LINX is a fast, secure and fully compliant bill payment system designed for legal cannabis supply chain.
For most cannabis businesses the use of cash makes financial processes less safe, less efficient and far less cost effective.
LINXs’ BPay platform enables you to make payments and view transactions from a central dashboard accessible from any web browser on any platform. The BPay ecosystem provides full traceability of electronic funds movement through the lifecycle of the payment flow, coupled with a full audit trail detailing the movement of these funds between counter-parties.
In addition to being able to pay your suppliers, you can also make secure tax payments and exit funds to your bank account on demand. LINX BPay has been designed to bring legal cannabis businesses in line with other industries, creating more opportunity for growth.
Being able to receive cleared funds in real time makes for instantly better cash flow. Get paid faster, with cleared funds from bill payments deposited to your Linx BPay account in REAL TIME. Bank transfers executed by 1pm PST are deposited into your Bank account the following banking business day, with no risk of chargebacks or insufficient funds. The exit to Bank is final and guaranteed good funds.
Spend less time chasing bills and matching invoices with the ability to view details attached to every payment request. Exported CSV payment files can be easily imported into your preferred accounting/ERP system.
Removing the need for cash payments decreases costs and increases efficiency for all stakeholders in the legal cannabis value chain.
A central dashboard accessible anywhere with an internet connection means you can view all your payment activity at any time, and visualize incomings and outgoings in way that is impossible when managing cash transactions.
In the payment requests section of your dashboard you are able to send bills, request and collect funds and pay suppliers with the available balance in your account.
Paying taxes is one of the most inefficient aspects of the cannabis ecosystem. The taxing authorities want their taxes paid electronically and in some cases, assess a penalty for cash payments. Scheduling and keeping appointments to bring in large amounts of cash is time consuming and can be dangerous. Electronic tax payments are integrated into the BPay system, so you can pay your taxes and keep accurate records with just a few clicks.
Using cash for business transactions in the legal cannabis industry is a barrier to growth and legitimization. LINX’s BPay platform and card payment systems are designed to give businesses access to the same financial services and systems enjoyed in other industries, and to end outmoded and inefficient practices currently hindering the progress of dispensaries that deserve to thrive.