HALIFAX, Nova Scotia, April 26, 2019 (GLOBE NEWSWIRE) -- SONA has been selected by Biome Grow Inc. (Biome), as its merchant service provider, a deal that could represent several hundred million dollars in credit card processing annually. SONA’s partnership challenges unfair markups in payment acceptance services faced by the Canadian cannabis industry. Despite the industry becoming quickly established, securing key business services like payment acceptance is an expensive and difficult process.

Given most merchant service providers’ sponsoring banks are U.S.-based, there are limited options for cannabis companies to secure a merchant service provider. The result is with limited companies offering the service, processing rates provided are often significantly higher than companies processing similar transaction volumes in another industry. In comparison, SONA’s fees are more in line with what a larger national company would enjoy who are processing similar transaction volumes. “Regardless of industry, companies deserve transparency and fair rates,” says Ryan O’Leary, CEO, SONA. “We were determined to get Biome set up while navigating through the requirements of the sponsoring bank. This process required a great deal of communication and understanding from all parties.”

SONA is founded on Ryan's years of industry experience having negotiated a unique arrangement with the world’s leading global payment processors; to control his own fees and pricing, while offering the global providers’ processing power, reliability, security, and state-of-the-art equipment.

“This relationship with SONA, a Nova Scotia based company, is but another demonstration of Biome’s commitment to directly and indirectly supporting the communities and businesses in Atlantic Canada. But more than that, this relationship allows Biome to leverage SONA’s unique arrangement with leading global payment processors. Specifically, industry leading transaction processing rates, which directly benefits our bottom line. SONA’s genuine support of Biome demonstrates vision, leadership, and authenticity, which as 'The Conscious Cannabis Company' aligns with Biome’s values and overall mission,” says Khurram Malik, CEO.  

Biome can now quickly fulfill its distribution transactions and meet demand for future licenses.

Media Contact
Ryan O’Leary

About SONA
SONA provides competitive pricing and tailored solutions to simplify payment acceptance. In an industry known for confusion and misleading claims, we put it all on the table with clear, honest, transparent information and a fresh approach. Powered by the world’s largest payment processors, we offer cutting-edge technology to improve business and commerce transactions. Based in Nova Scotia, SONA is a national provider with representation coast to coast.

About Biome Grow Inc.
Biome wholly owns five subsidiaries, including: The Back Home Medical Cannabis Corporation, a company incorporated under the laws of the Province of Newfoundland and Labrador and in the late stages of applying for a license under the Cannabis Act; Great Lakes Cannabis, a company incorporated under the laws of the Province of Ontario and in the late stages of applying for a license under the ACMPR; Highland Grow Inc., a licensed producer in Nova Scotia under Canada’s Cannabis Act; Red Sands Craft Cannabis Co., a company incorporated under the laws of the Province of Prince Edward Island, and; Weed Virtual Retail Inc., a company incorporated under the laws of the Province of Ontario in the business of operating a new virtual reality technology platform focused exclusively on the medical and recreational cannabis markets. Biome is a Canadian-based company with national and international business interests.