Treez Announces Multiple Advancements In FinTech Offerings for Cannabis Retailers

  • TreezPay One Application - A streamlined online application process that allows retailers to apply and get expedited approval for multiple compliant TreezPay cashless payment products, including integrated card and direct ACH payment solutions.
  • Treez launches general availability of its proprietary ACH payments product, Swifter ACH Payments, to streamline financial services with fully compliant digital payment solutions.
  • PayLater Embedded Financing, a tech-enabled, integrated lending service, is now available exclusively and directly through the Treez platform providing instant offers, including up to $10,000 in funding with zero initial fees.

SAN FRANCISCO, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Treez, the leading enterprise commerce technology platform that helps retailers accelerate revenue growth, drive better operational efficiency, and increase profits, today announced multiple advancements in financial offerings for their cannabis retail customers: TreezPay One Application, the launch of Swifter ACH Payments and PayLater Embedded Financing. These enhanced financial service offerings from Treez give retail dispensaries additional tools to help grow their business and normalize their consumer experience both online and in-store. All three updates to the robust Treez enterprise platform are now available to existing and future Treez customers.

“Now more than ever, cannabis retailers need quick, easy and direct access to traditional fintech solutions including working capital and stable cashless payment options for their consumers,” said John Yang, Co-Founder and CEO of Treez. “With the launches of our TreezPay One App, Swifter ACH Payments and embedded financing within the Treez platform, we are delivering to our customers the sophisticated tools they need to compete effectively and grow their business.”

TreezPay One Application

TreezPay One Application massively streamlines the cashless payment application process amidst the growing risk of card network shutdowns, allowing retailers to apply and get approved for multiple compliant and redundant TreezPay products, including integrated card and direct ACH payment solutions, all at one time.

"I never thought I'd find myself impressed by a merchant processor application, yet somehow TreezPay One App has done it. Getting signed up takes less than a minute, and the application itself is a breeze compared to any other process I've personally encountered during my 7.5 years in the cannabis industry. I am blown away by the efficiency of being able to sign up for multiple payment solutions with a single application," said Tyler Licata, Director of Operations at Higher Level Dispensaries.

TreezPay One Application provides enhanced benefits for cannabis retailers who are no longer willing to accept “cash only” transactions as their sole means of conducting business. Cannabis retailers have found that accepting cashless payments boosts order value, decreases transaction time, and allows merchants to increase their average monthly revenue by 25% and average order value by at least 20%. The new TreezPay One application provides retailers with multiple options to solve this issue and create a better retail experience for consumers.

Key highlights of the TreezPay One Application include:

  • Comprehensive Data Collection: The application gathers all necessary information for TreezPay product applications in one place, simplifying the process and saving retailers countless hours.

  • No Obligation: Retailers can explore individual products without any obligation to sign up for all cashless payment options.

  • Flexibility: Easily add or change payment offerings as needed, with all necessary information readily available within the Treez platform.

  • Convenience: The application allows users to save progress and return at their convenience.

Swifter ACH Payments

Treez is excited to introduce the launch of Swifter ACH Payments, a proprietary solution, into its comprehensive suite of financial services. The announcement follows the acquisition of Swifter in Fall 2022, adding cutting-edge technology to TreezPay offerings.

With Swifter ACH, cannabis dispensaries can enjoy the following advantages:

  • E-Commerce Boost: The integration supercharges e-commerce capabilities, leading to increased transaction volumes, customer loyalty, and higher average order values. Retailers can embed ACH into their eCommerce solutions, enabling customers to conveniently “Pay Now” for their online orders. In addition, Swifter ACH enables customers to tip on their online orders during the checkout process, resulting in a staggering 120% on average increase in tips per transaction.

  • Compliance and Security: Swifter ACH stands out as the most compliant and secure payment option available, offering peace of mind for both dispensaries and customers.

  • In-Store Convenience: In-store customers can link their bank accounts quickly via QR code, making checkout swift and hassle-free. On average, it takes a first-time user slightly more than 50 seconds to link their bank account. After linking, returning customers can check out in-store or online with a single click.

  • SellTreez POS Integration: Swifter ACH seamlessly integrates with SellTreez POS and simplifies returns or canceled orders, amplifies customer loyalty rewards and enhances customer satisfaction.

PayLater Embedded Financing

Through Treez’s partnership with a leading fintech platform, Treez customers can easily delay their vendor payments with the click of a button within the Treez platform through the ‘PayLater’ product. All Treez retail customers get instant approvals for up to $10,000, and their first-month fee free. The game-changing lending service designed exclusively for cannabis retailers makes Treez the first point-of-sale (POS) platform to provide instant funding directly within the Treez platform.

When retailers delay vendor payments with ‘PayLater’, they access:

  • Improved Cash Flow: Get more cash to spend on operations.
  • More Buying Power: Take advantage of quantity discounts by purchasing in bulk to expand margins on your products.
  • Instant Access: Treez retail customers can access instant funding options through PayLater lending choices directly within the Treez platform, eliminating the need to visit a third-party site.

  • Competitive Rates: Retailers can benefit from competitive rates for short-term capital solutions to help manage accounts payable and receivable.

  • Inventory Finance: The PayLater option allows customers to delay vendor payments, offering greater flexibility for retailers. The service offers up to $10,000 in funding and zero fees for the first month to help Treez retailers strengthen their cash position.

About Treez
Treez is the leading enterprise cloud commerce platform providing point of sale software, retail analytics, cashless payments and integrated partner solutions to the highest volume retail operators in the biggest state markets in the cannabis industry. Treez's innovative technology and insights help retailers accelerate revenue growth, drive better operational efficiency and increase profits.

The extensible open API platform provides smooth integration into a variety of best-of-breed solutions across ecommerce, delivery, customer relationship management, marketing and loyalty, accounting, ERP and more. Layered on top is a dedicated client success team and 24/7 customer support, giving retailers everything they need to grow their business.

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