Combining Integrity
with Technology
with Privileges
Kiosks
Current state of the industry
Until now, Cannabis Business (CB) locations have been relying on non-compliant ATMs. The problems are bank sponsorship, Network registration, clean vault cash and ATM ownership. This has resulted in “outlaw” ATMs. Many use false names and addresses until they are discovered and “re-registered.” Most CB locations are currently cash loaded by an individual carrying a bag of money or actual cannabis cash. With anti-money laundering (AML) laws and Federal oversight (SAR, BSA, Reg E), this is just what regulators do not want. There is a void in the industry for an ATM/Vault cash services provider completely independent of CB ownership and involvement.
ATMMS Solution
ATM Merchant Systems now has a fully compliant ATM program for CB locations, consisting of bank sponsorship, ATM ownership and clean vault cash, delivered and installed by fully licensed and insured armored carriers. This provides a compliant and safe program that separates CB locations from the banking network.
Bank Sponsored and Networks Registered
ATM Merchant Systems is bank sponsored and registered with Visa, MasterCard and other National and Regional networks. The sponsor bank maintains network agreements and is responsible to the networks for ATM compliance.
Armored Carriers
ATM Merchant Systems selects armored carriers based upon performance history. The carriers are bonded and maintain insurance, covering theft and robbery, errors and omissions. Using bonded and insured carriers provide safety and addresses liability concerns.
