Hypur and Salal Credit Union announce new partnership to bring digital payments to cannabis companies

SCOTTSDALE, Arizona., 23 april 2020 / PRNewswire / – Hypur inc. (Hypur), the leading provider of compliant, secure and sustainable payments for high-risk, cash-intensive businesses, today announced a new partnership with Salal Credit Union (Salal) to offer contactless digital payment, curbside pickup and delivery options to members of the Salal cannabis business through the Hypur platform. The new partnership builds on Hypur’s extensive network of banks and credit unions and reflects the efforts of both institutions to improve public safety by limiting the use of cash, increasing digital payment solutions and increasing tax revenues. , and helping cannabis businesses thrive with modern banking options.

“Cannabis companies rely on accessible and modern financial and banking resources to help their business grow. Building long-term relationships with trusted financial partners to better serve our customers and their consumers is essential to Hypur’s mission, ”says Tyler beuerlein, Director of Revenue at Hypur. “We are excited to continue helping cannabis businesses thrive with Salal, which is also known for its trusted compliance, regulatory and risk management operations. “

As part of this partnership, Hypur will support Salal’s network of cannabis retailers and wholesalers with a variety of modern digital payment products. Cannabis operators who choose to partner with Hypur and take advantage of its fintech can use the company’s Hypur Pay ™ digital app to create a more secure and convenient payments ecosystem for the cannabis industry. Additionally, Hypur will provide contactless payments for in-store, delivery and take-out purchases with a new secure payment feature, which includes a tip feature for delivery drivers and budtenders.

Hypur’s reliable and compliant technology reduces cash handling, physical contact at the checkout, and eliminates the extra step of stopping at an ATM to get cash to pay for products. The availability of digital payment solutions for cannabis deliveries and purchases is critical as the cannabis industry has been deemed ‘critical’ in many cities and states across the country during the COVID-19 pandemic. With some dispensaries experiencing increased sales to consumers during social distancing and shelter-in-place mandates to maintain public health and safety, Hypur is keeping those transactions safe.

For more than 70 years, Salal has served members across the country with its retail, corporate and indirect lending programs. Today, Salal is among the leading financial institutions providing banking and financial services to the cannabis industry and serving some of the largest cannabis dispensaries in the United States.

“Hypur’s advanced and unique payment services fuel our ability to help businesses grow,” says Brett ballman, vice-president – director of corporate banking services at Salal. “Companies that turn to Salal for banking, commercial real estate or other needs will now also enjoy the added benefits of Hypur’s streamlined, secure and compliant transactions. “

Hypur is an experienced and trusted payment provider that serves over 600 customers nationwide and has over 25 partnerships with banking and financial institutions. In its six years of operation, Hypur has never experienced a failure. Hypur recently launched its secure payment feature with a partnership with leading cannabis consumer brand. Calive, which is now available nationwide. To learn more about Hypur and its digital payment solutions for the cannabis industry and cannabis consumers, visit: Hypur.com.

About Hypur:
Created in 2014,Hypur is a payment, banking, and compliance technology for cash-intensive industries like cannabis, CBD, and money services businesses. With features like Face ID, Touch ID, and auto check-in, the Hypur app dramatically improves the in-store checkout process for consumers and merchants. Hypur can also be used for advance orders, delivery, online transactions, and business-to-business transactions. Financial institutions benefit from Hypur’s streamlined reporting and document management, facilitating compliance with local regulations. Learn more about www.hypur.com.

About Salal:
Situated at Seattle, Washington, Salal is one of the largest credit unions Washington state with over $ 700 million in assets and more than 40,000 members. It is a full-service financial institution that serves its members across the country through its business and indirect loan program. Salal operates four distinct lines of business – retail banking, small business services, mortgages and direct lending to dealers – which offer a wide range of deposit and lending products. Learn more about www.salalcu.org.


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