The startup offers a mobile application that enables users to place cashless orders for food, drinks, and store items at partner vendors and events, eliminating the need for physical drink coupons. Transitioning into the cannabis fintech space, the app provides efficient payment solutions and competitive pricing for cannabis-related purchases in the U.S. market.
Funding
$770K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses in the kratom, CBD, hemp, nutraceutical, and vape industries face challenges in securing reliable payment processing due to the high-risk nature and complex regulatory landscape surrounding these products. This can lead to merchant account terminations and difficulty accepting major credit cards.
Solution
WAAVE Technologies provides compliant payment solutions tailored for businesses operating in high-risk wellness industries. The platform offers tools to navigate federal, state, and local regulations, streamlining transaction security and compliance. WAAVE enables merchants to accept major credit cards online, in-store, and in online marketplaces, while maintaining good standing with financial institutions. The platform's automated compliance features, PCI DSS compliance, and fraud prevention tools help to minimize legal risks and optimize operations for high-risk environments. WAAVE also offers solutions for buyers, ensuring secure transactions and ID protection when shopping with certified wellness sellers.
Target Audience
WAAVE's primary customers are merchants in the kratom, CBD, hemp, nutraceutical, and vape industries, as well as buyers seeking secure and compliant transactions within the wellness market.
Features
- Automated compliance monitoring with real-time updates on industry-specific laws
- Streamlined payment processing with a single account for multiple product categories
- Broad acceptance of major credit cards, including Visa, MasterCard, Discover, and AMEX
- PCI DSS compliance for secure transaction data handling
- Tools for high-risk management and fraud prevention
- Online payment gateway with features like login checkout and payment requests
- Virtual terminal and POS solutions for in-store and remote card payments with OTP verification
- Mobile app for in-store payments via QR codes
- Compliance blocks for geo-fenced transactions based on product and state
- COA alert system to verify Certificates of Analysis and notify before expirations
- ID validation protocol using AI-based checks to ensure compliance with ID laws
- Disclaimer, claims, and age gate features to automatically adjust website legal wording
- Dashboard monitoring for a clear view of compliance and transaction statuses