Merrco provides secure payment processing solutions specifically designed for cannabis and CBD businesses in Canada and the U.S., utilizing traditional terminals and an omnichannel platform for both in-person and online transactions. The company addresses the challenges of payment acceptance in a heavily regulated industry, ensuring compliance and reliability for merchants.
Funding
$30M 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
Cannabis and CBD businesses face significant challenges in securing reliable and compliant payment processing solutions due to the heavily regulated nature of the industry. Traditional financial institutions are often hesitant to provide services, leaving these businesses with limited options for accepting payments. This can hinder growth and create operational complexities.
Solution
Merrco provides secure and compliant payment processing solutions tailored for cannabis, CBD, and other regulated industries in Canada and the U.S. The company offers an omnichannel platform, PayHQ, that supports both in-person and online transactions, along with traditional terminals and mobile payment options. Merrco integrates with leading POS systems and e-commerce platforms, providing a seamless payment experience for merchants and customers. Additionally, Merrco facilitates access to financing solutions through partnerships, enabling businesses to secure capital for expansion and operational needs. The platform is PCI DSS-compliant, ensuring secure storage of customer data and reducing the risk of fraud.
Target Audience
The primary target audience includes cannabis, CBD, vape, liquor, and other regulated businesses in Canada and the U.S. seeking secure and compliant payment processing solutions.
Features
- Omnichannel payment platform (PayHQ) supporting in-person, online, and mobile transactions
- Traditional terminal solutions for in-store payments
- Integration with leading POS systems (e.g., Buddi, Greenline, iHeartJane, Dutchie)
- E-commerce payment gateway with open API for integration with existing online stores
- Click and collect functionality for online orders with in-store pickup
- Electronic Funds Transfer (EFT) for vendor and client payments
- Recurring billing and invoicing features for automated payment plans
- Age verification tools to ensure compliance with regulations
- Debit surcharging to generate revenue on Interac debit transactions
- Merchant financing options through partnerships for business expansion
- PCI DSS-compliant platform ensuring secure data storage