Introducing Global Primex's New Alternative Payment Method: Settle!
Global Primex has been developing alternative payment methods that suit the needs of both consumers and merchants for over a decade now. Each product is developed with concepts that are simple to imagine, but difficult to achieve, such as convenience, security, privacy and innovation. We embrace these concepts while maintaining the highest level of regulatory compliance, something we take great pride in.
Our latest financial product is Settle®, which will begin its testing phase in June and is set to launch in August of 2021 in Illinois. Settle is designed to facilitate cannabis shopping for consumers and dispensaries, both online and in-store.
A Booming Industry
Cannabis sales in the U.S. have skyrocketed in recent years, growing 46% from 2019 to 2020 alone. The industry is now worth nearly $20 billion, with plenty more room for growth in the next decade and beyond. Despite this rapid growth, the cannabis industry is without a reliable, convenient form of payment, as the vast majority of transactions are made with cash. Cash payments can be expensive, risky, and burdensome for both businesses and consumers. Consumers purchase Settle directly through the app using ACH bank transfer and cryptocurrencies, and from our retail distribution partners using any payment method accepted by those partners. Consumers then have a quick, easy way to buy cannabis, both online and in-store.
The Settle User Experience
Settle runs exclusively through the user's mobile device. After a quick registration process, we allow our consumers to shop for cannabis online or in-store with their favorite dispensaries.
1. Customer visits dispensary website and selects desired product(s) to purchase.
2. User selects Settle as preferred payment method and enters the unique Digital Card PIN code at checkout.
3. The customer picks up his prepared order in person, which requires a positive ID verification and final in-app confirmation.
1. Customer selects the desired product(s) in the dispensary.
2. At checkout, customer purchases a new Digital Card or selects an existing one in the Settle app.
3. The dispensary employee scans the unique QR code on the customer's Settle app and completes a quick ID verification.
The Future of Cannabis Shopping
Settle takes legal cannabis shopping to another level with unprecedented versatility, safety, and convenience, something the cannabis industry needs in order to continue its rapid rise. As our Chief Strategy Officer, Justin Block, said, “In this age of constant connection and one-click purchases, consumers expect hassle-free payment options, no matter what they’re buying. Settle provides dispensaries the ability to serve these customers by offering a wide range of convenient and compliant payment opportunities, including a unique online process.” The Settle app provides the payment consumers trust, and the freedom consumers deserve, all while keeping businesses safe and compliant.
For more information about Settle, visit www.settletopay.com.
For Media Inquiries:
Rene Salla, VP Marketing, Global Primex LLC