Helix TCS will integrate Dama’s payment processing software, PayMyWay, to offer an additional payment method and access to platform licensees
Inc () has finalized its strategic partnership with Dama Financial to facilitate secure and compliant financial transactions on Helix’s BiotrackTHC platform, the market leader in commercial seed-to-sale software for the legal cannabis industry.
In a statement on Tuesday, Helix TCS said it will integrate Dama’s payment processing software, PayMyWay, to offer an additional payment method and access to a banking solution to BiotrackTHC licensees.
The integration will allow merchants to accept electronic payments using the PayMyWay mobile app at point-of-sale and have access to a compliant online bank account where sales revenue can be securely deposited.
READ: Helix TCS adds former NYSE senior executive Garvis Toler to its leadership team
“We are constantly working to identify solutions to critical infrastructure challenges that cannabis business owners face today,” said Helix CEO Zachary Venegas. “We are pleased to announce that via our partnership with Dama Financial, operators no longer have to worry about secure and compliant payment processing or banking.”
Leveraging years of experience in the underbanked and cash-intensive industries, Dama Financial provides cannabis-related businesses with best-in-class financial solutions. Using Dama’s cutting-edge technology, they can manage all of their banking and payment needs via one platform, akin to any non-cannabis-related business, eliminating the hassle and risk associated with cash-intensive businesses.
Helix TCS said it and its wholly owned subsidiary BioTrackTHC have been bringing solutions to the legal cannabis industry that enable clients to manage their businesses compliantly and securely, grow sales, and maximize the efficiency of operations.
“The BiotrackTHC team is undoubtedly leading the future of automated technology for businesses in the seed-to-sale supply chain,” said Dan Henry, CEO of Dama Financial. “We are proud to partner with them and look forward to pioneering the conversion of a cash-based economy to a digital economy.”
Denver-based Helix TCS is a leading provider of critical infrastructure services, helping owners and operators of licensed cannabis businesses stay competitive and compliant while mitigating risk. Its products reach over 2,000 customer locations in 38 states and seven countries and have processed over $18 billion in cannabis sales.
Contact the author: [email protected]
Follow him on Twitter @PatrickMGraham