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Spotlight Innovatorsators
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development of Paybotic’s suite of services. In addition we are expanding our service offerings into different related
verticals such as Lending, Insurance, and Accounting services that cannabis merchants need access to, but have difficulties
to do so.
What recent enhancements have you made to your technology and service offerings?
With more states preparing to go live with adult-use cannabis, we understand that access to capital is one of the urgent
needs of retail operators. We have automated several processes to help our merchants get approved for capital seamlessly
and quickly. This can be done right on the Paybotic platform by any merchants processing with Paybotic. In addition, we
are offering ecommerce and B2B payments to our customer base, together with options to finance vendor payments where
applicable.
How can ISOs, agents and ISVs better serve merchants in industries classified as high risk?
Knowledge is power. I believe ISOs, agents and ISVs who understand the challenges and opportunities of these high risk
industries will be able to deliver on the needs for merchants in such industries. Also, as cliche as this may sound, customer
service needs to remain at the core of payments and financial services provided by ISOs, agents, and ISVs, and that is the
one and most effective ways to understand the merchants to better serve them.
How does working with Paybotic benefit channel partners, including ISOs, agents and merchant level salespeople?
Paybotic is working towards creating a platform that powers the financial ecosystem for cannabis merchants. ISOs can
also work with us to provide support for cannabis merchants in several ways, while building residual streams on all of
these avenues in a fast growing industry:
• Business checking accounts
• Online cash management services
• Cash pickup and deposits
• B2B Invoicing
• Escrow services
• Shopping cart integration
• Inventory management
• POS-ERP integration
• Jurisdictional tax impound and payments
• Risk and compliance management
Where do you see Paybotic in ten years?
A brand that not just the merchants are familiar with, but their customers. Up until this point, we have only tapped into
the cannabis industry on the merchant’s end. We see tremendous value in continuing the growth of the end-user base to
bring the merchants and their customers even closer.
Do you see legalization as a threat? An opportunity?
Legalization is an opportunity for every stakeholder in the cannabis industry. The only way to move forward and create
more value for our merchants and their customers is by replacing our current offerings with better solutions and services.
That is the core philosophy here at Paybotic. We are all looking at legalization with a positive mindset and entrepreneurial
spirit.
What’s it like running a company in hyper growth, and what keeps you up at night?
Running a hyper growth company is thrilling, challenging, and even exhausting at times, but definitely rewarding - I
have to say. As a company grows, naturally the team culture may shift in ways that we do not expect, so maintaining
the core values is of the utmost importance for us. Also, the tough part about the job is how do we get “uncomfortable”
enough in order to make the necessary changes to our current service offerings to come up with better solutions and
services to better serve our customers.
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