Cashless cannabis payments aren’t just the future, they’re crucial for dispensary success right now.
Options like ACH bank transfers, point of banking, and even cryptocurrency payments are quickly growing in popularity.
Your job is to make sure you have multiple payment options available. Then you need to help your customers understand how those options are better than paying with cash.
The process is actually easier than it may seem because cashless options are typically a better option for both cannabis customers and dispensaries.
Below are 5 of the best ways to increase customer adoption of cashless payments at your cannabis dispensary.
1. Use QR codes
QR codes became popular during the pandemic, and it looks like they’re going to stay popular for the foreseeable future. A study from The Drum/YouGov found that 75% of US respondents say they plan on using QR codes going forward.
To entice customers to download an app to pay (ACH transfers use this method to transfer funds from a bank account), then you need to display QR codes for them to scan.
First, ask your payment partner to provide you with these marketing materials. If they do not, then you can use a free QR code generator to create your code.
Then, print the QR code (you can customize the printed page to be more enticing to customers) and display it in the following places:
At the register
On your front door
At your front desk
Throughout your dispensary on the walls
QR codes will play an important role in the future, especially for cannabis payments. Stay competitive and satisfy customers by allowing them to scan and pay.
2. Brand your website for cashless cannabis payment processing
For your customers to notice that you have new payment options, your website needs to show them, especially if you’re offering online payments for ecommerce.
Try some of these options to show online cannabis shoppers new ways to pay:
Display a banner ad at the top of your home page announcing the new payment service.
Add a landing page to your site that explains details of your cashless payment option.
Include an FAQ section on your website that answers common questions regarding non-cash cannabis payments.
Embed a video (like the one below) to visually show how easy and effective digital payments are at a dispensary.
You may not have to include all of the above information on your site, but the more you’re able to provide, the more comfortable your customers will feel with your cashless payment system.
3. Display relevant signage in your store
Customers should visually notice that you have additional payment options at your dispensary. This can be done with cannabis displays.
There’s an old advertising rule that consumers need to be exposed to an ad 7 times before they notice it. In this case, that’s probably overkill — but you still need to nudge consumers in the right direction to increase non-cash payment adoption.
Here are some great ways to advertise your payment solution in-store:
Offer personalized business cards.
Hand out customized one-pagers that describe your payment solution.
Hang signs on your front door that show your solution in action or say something like “pay using [insert payment method]”.
Use signage at your register to spark interest.
If more customers see that you have additional payment options available they’ll be more likely to begin using them. Remember, you don’t want to overwhelm shoppers. Find a middle ground that catches customer attention but doesn’t exhaust your audience.
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4. Market your payments digitally
Construct a digital marketing campaign to target both customers and prospective shoppers at your dispensary. The primary focus of the campaign should be to showcase your new cashless cannabis payment solution(s).
The best digital marketing strategies are done over multiple channels. Some of ideal options for a cannabis company to use are:
Email - If you have an email database of customers or regularly send emails out, then this option will be easy. Simply schedule and send emails that promote your new payment option, showcase its benefits, and even provide discounts.
Social media - Linkedin is one of the most cannabis-friendly social channel. But you can post across your preferred dispensary social media platforms announcing your new solution, regularly showing payments, sharing a QR code to download the app, etc.
SMS - If you’re already sending out SMS messages, then you should be including announcements about your digital payment options. Create fun, simple notifications to send out to your database to keep them in the loop and considering new ways to pay.
Ideally, your payment provider will help you with assets to post to social as well as some copy to use across your channels. If this is the case, you’re one step closer to higher customer adoption!
5. Train your staff to advocate for cashless payments
Budtenders are the face of your cannabis business. Their opinion will quickly convince customers on the fence about your digital payment options — if the budtender is trained properly.
In order to increase adoption of your new payment method, make sure your staff are experts on the solution.
Your staff should be familiar with the following:
How your cash free solution works
How customers can begin using digital payments
Why this option is better than cash
How many other customers are using the solution
Provide a step-by-step demo of the process for customers
Many payment companies provide training for your dispensary staff. Check with them to find out if this is an option.
A few changes make a huge difference
You don’t have to change your entire strategy at once to see results in digital payment adoption. Simply work your way down the list and continually advocate for the process.
The great thing about using digital payments for cannabis transactions at your dispensary is they’re going to improve customer experience.
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This will lead your customers to spread the word to friends, colleagues, family, etc. about the dispensary that doesn’t make you pull cash out of an ATM for every transaction.
Keep in mind that there may be regulatory or legal requirements around advertising, so research before implementing anything. Also, make sure you understand the difference between integrated and non-integrated cannabis payments.
As financial services improve for cannabis businesses, potentially allowing card payments at the point of sale checkout, payment processors and businesses alike will see a boost in adoption.
Interested in accepting cashless, contactless payments at your dispensary? Book a demo with Aeropay today!
