Merchants in the marijuana and cannabis industry.
Mobile payment app with blockchain or secure technology allowing marijuana merchants to process debit and credit card payments
Setup Fee: Variable
Monthly Fee: Variable
Swipe Rate: Variable
Keyed-in Rate: Variable
Early Termination Fee : Variable
GreenMed was founded sometime in mid-2017 and is based out of Los Angeles, California. Little else is known about the merchant.
GreenMed started in mid-2017 with a unique approach to processing payments for marijuana purchases. A mobile payment application was developed using blockchain technology, making changing or hacking the system extremely difficult. Another way GreenMed was attempting to stand out was by offering an opportunity for a pre-sale of its GreenMed tokens, which could then be used as a cryptocurrency when the site went live in Q3 2018. Pre-sale of the tokens concluded in October 2017. Use of the tokens meant evading rules and regulations mandated by major financial institutions for credit card processing fees.
Reviewers claim that contract terms and transaction fees were not disclosed on GreenMed’s website. Multiple claims are made declaring GreenMed is not a reputable company. Their social media platforms and blogs have not been updated in months.
Los Angeles, CA
Merchant Provider Risk Tolerance
There is little known about the software options GreenMed would provide. At the time of this article, no known website can be located.
The idea behind the GreenMed tokens was similar to other cryptocurrency platforms. Customers would enter their credit or debit card information on the app and browse marijuana products at local dispensaries. At the time of purchase, they use their credit card information to purchase a set value of tokens. Merchants can then cash the accumulated tokens to their current market value rate for immediate payout; however, GreenMed created an incentive to hold on to the tokens instead. By charging a small fee per transaction, earnings on those fees would be distributed to holders of tokens.
Since the financing information and transaction rates are not publicly available, little is known about the financing options. At the time of this article, no known website can be located.
There is little known about the hardware options GreenMed would provide. At the time of this article, no known website can be located.
Discloses All Important Terms
Public Pricing Available
Pricing and fees were not disclosed at the time the social media platforms and website were active. Little else is known about this information as a website cannot be located.
Mobile Payment Rate
Virtual Terminal Rate
Payment Gateway Fee
Early Termination Fee
PCI Compliance Fee
Equipment Lease Terms
Address Verification Service (AVS)
Account Setup Fee
Gateway Setup Fee
Contract terms were not disclosed at the time the social media platforms and website were active. Little else is known about this information as a website cannot be located.
Early Termination Fee
There is no profile established on the Better Business Bureau (BBB) website.
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Total Online Reviews
Total Online Complaints
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