Operating on a cash-only basis isn’t just inconvenient and risky for marijuana dispensaries, it is also an annoyance for many customers who don’t want to have to withdraw from an ATM every time they make a purchase.
To overcome this, many cannabis retailers are adopting cashless payment alternatives from ACH bank transfers to point of banking and cryptocurrency options. Ensuring your customers know how to make use of these options isn’t a given though, and you may need to encourage customers who prefer to pay in cash what the benefits of digital payment alternatives are.
If you want to increase customer adoption of digital payment alternatives, here are five strategies you should implement.
1. QR codes
QR codes are the method by which ACH transfers are verified from the linked bank account, and it is proving successful as customers are increasingly willing to use QR codes for transactions.
To encourage the use of this payment option, you need to make sure customers are aware of it. So, get in touch with your payment partner for QR marketing materials to put on display around your dispensary. If that’s not possible, try out a free QR code generator instead, print it off, and make it visible.
2. Include cashless payment options on marketing materials
Without overdoing it, you should consider making your cashless payment options clear on dispensary business cards, a payment info sheet, signage at the register, and another at the entrance.
3. Make your cashless payment options prominent on your website
If you provide online payments, it stands to reason this should feature heavily on your store’s website.
To make it clear and encourage adoption, stick a banner at the top of the page announcing the payment service, a landing page that sets out in detail how the payment process work, and an FAQ section for any queries the customer may have.
It may also be a good idea to embed a video from your digital payment partner that advertises the service.
4. Market your digital payment service online
A targeted digital marketing campaign can inform your current customer base. You could also seek to entice prospective new ones with the offer of discounts. This campaign can include an email newsletter to your customers as well as social media posts.
5. Ensure your budtenders inform customers
Budtenders are the ones who interact directly with your customers. If they are friendly, informed and advise the use of the service, customers are more likely to adopt it.
As such, your budtenders should be very familiar with how cashless payments work, how customers can get started and what the benefits of it are over cash payments.
Many cashless payment providers offer training materials and other resources for dispensary staff, so make sure to inquire about these.
With these few simple steps, the transition from cash to digital payments can be relatively seamless and provided added value not just to your dispensary but to your customers as well.