POSaBIT

POSaBIT, founded in 2015, is a prominent provider of point of sale and payment solutions specifically tailored for the cannabis industry. The company operates in over 500 locations across 23 states, offering a robust platform that integrates various features to support cannabis retailers. POSaBIT’s growth has been significantly bolstered by the acquisition of Hypur, further enhancing its market presence. The company is publicly traded under the symbols CSE: PBIT and OTC: POSAF.

POSaBIT’s platform includes a wide range of functionalities such as integrated loyalty programs, customizable discounts, and detailed reporting. It supports workflows including delivery and curbside orders, facilitated by the Pocket POS system which includes inventory scanning and a built-in scanner, transaction abilities, and a receipt printer. The platform is PCI DSS compliant, TLS-Certified, and features advanced data encryption, ensuring compliance with KYC and AML regulations.

The POSaBIT Payments omnichannel platform synchronizes online ordering with in-store and delivery sales, providing real-time analytics across all sales channels. It supports debit card transactions, mobile payments, and cashless payments, reducing the reliance on cash. The platform also includes a discrete SOS feature for retailer protection and supports compliance with state and federal regulations, including age verification and tax reporting.

POSaBIT’s platform offers a robust reporting dashboard, detailed reports for employees, inventory managers, store managers, and owners, and a customer recommendations engine using machine learning. It integrates with popular tools and offers an open API, supporting custom loyalty programs and customer profiles. The platform’s comprehensive features make it a versatile solution for cannabis retailers, ensuring a normalized purchasing experience and streamlined operations.