Another marijuana payment kiosk is sprouting up.
Free Agrisoft payment kiosks will be beta tested in a limited number of cannabis dispensaries soon, and the company is inviting dispensaries to apply for them now, according to an announcement from Kansas City, Mo.-based Agrisoft Development Group.
The company is partnering with C4EverSystems LLC to integrate Agrisoft Seed to Sale cannabis-tracking software with cash-payment kiosks at dispensaries and cultivation sites. At present, all medical and recreational cannabis transactions take place in cash. Banking associations have stated they will not permit money from cannabis sales to be deposited in their banks until cannabis is removed from the list of Schedule I controlled substances. The threats of diversion, theft and human error are serious concerns to dispensaries and state regulators. Payment kiosks will take cash out of the hands of retail employees and lock it away. They also guarantee transparency, accurate accounting and 100-percent collection of taxes due, the company said. The concept in the cannabis industry is new, so Agrisoft is inviting a limited number of licensees to beta test kiosks in their dispensaries.
When customers enter a dispensary, their authorization to make a purchase is verified and they are given a bar-coded receipt. They then place their order at a retail counter or a point-of-sale order tablet where their barcode is again read. They then proceed to the kiosk to make their cash payment, after which their order is fulfilled. The kiosk integrates with Agrisoft’s point-of-sale software and counts the cash, identifies counterfeit currency, provides exact change and secures the money, the company said.
“From a management standpoint, the system is invaluable,” Agrisoft CEO Charles Ramsey said in the announcement. “Managers can see at any moment how much revenue has been collected in real time. This is especially important in the event of unannounced state inspections and audits.”
Agrisoft COO Matt Cook is a regulatory consultant to the cannabis industry who is assisting dozens of states and foreign entities as they put together their cannabis statutes and regulations, according to the announcement. “States are scrutinizing the risks involved in legalizing medical and recreational marijuana,” Cook said. “If we can take cash out of the hands of individuals, lock it in kiosks that are as impenetrable as ATM machines, track the money in real time, and include camera security, the comfort level of regulators will vastly improve.”