Reviews

Paybotic Review

June 27, 2022

Paybotic is a cannabis payment expert. The company’s goal is to ensure that clients understand how to streamline their processes and operations. Paybotic can help them decide what payment process suits their business needs. This will increase revenues, reduce costs, and utilize smart technologies.

Paybotic works with various industries, including:

  • MMJ curbside
  • MMJ delivery
  • Dispensaries/retail cannabis
  • Cannabis e-commerce

It offers solutions, such as but not limited to payment processing, check processing, merchant cash advance, cannabis banking, business insurance, and smart safe depository banking. With a ranking of 4.7 stars on Trustpilot, the company has evidence that it delivers on its promises.

logo-of-paybotic

Paybotic Merchant Services

Payment Processing

Paybotic offers a multitude of ways to pay for cannabis purchases. Clients can pay with cash, debit cards, checks, and bank transfers. Traditional banks do not process payments for cannabis businesses, but Paybotic can. It provides the payment processing system so cannabis-based industries can legally accept all kinds of payments no matter where they are.

High-risk Merchant Account

The cannabis industry is considered high-risk, so traditional banks don’t easily approve merchant accounts for these businesses. Paybotic provides a payment processing solution for cannabis and hemp businesses. The company did not mention if other high-risk industries can use its payment solutions.

Cryptocurrency Payment Processing

Another popular way to pay for cannabis purchases is by using cryptocurrency. Businesses should begin processing cryptocurrency as payments for cannabis products because it’s a new and increasingly popular form of payment. Paybotic did not say what kind of digital currencies it is currently accepting, though.

Merchant Cash Advance

Running a cannabis business can be expensive. However, not many banks and credit unions lend money to dispensaries. Paybotic has a merchant cash advance service to finance initiatives to grow your business further. It is important to note that cash advances are not loans. Rather, they are funds advanced and repaid with a percentage of the business’s sales.

merchant-cash-advance-of-paybotic

Gift Card Programs

Paybotic can help cannabis merchants implement a gift card program for their customers. It can either be promotional cards, reloadable cards, e-gift cards, or PIN security cards. The gift card program aims to attract new customers, make upfront sales, and offer customer convenience.

 

Paybotic Fees, Rates & Pricing

Processing Fees

Paybotic does not publish its fees, rates, and pricing. Its website does promise zero operating costs and no debit and credit card fees.

Additional Fees

There is no information about any additional fees.

Hidden Charges

Paybotic also says it has no hidden fees.

 

Paybotic Complaints

There are no formal complaints filed against Paybotic.

Rip Off Reports

There are no rip-off reports about Paybotic.

Other Complaints

There are no other complaints about Paybotic.

 

Paybotic BBB Rating

Paybotic has a listing on the Better Business Bureau (BBB) website, but it is not accredited. It has an NR rating. There are no reviews and complaints about the business on the site.

paybotic-bbb-rating

The BBB accredits and rates businesses based in the United States, Canada, and Mexico. The highest rating it gives is A+, and the lowest is F. Merchants and consumers usually check the BBB website to ensure the company is not a scam.

BBB Reviews

Paybotic has no reviews on the BBB website.

 

Is Paybotic Legitimate?

Paybotic is fairly new in the game. It has only been around for five years, but it has profiles on business networking and social media sites. On Facebook, the company has more than 2,400 followers. The content is also regularly updated. On Twitter, Paybotic has 99 followers, with the latest tweet sent out a week ago as of this article being written.

ScamAdviser gave the site a good trust score of 100/100. The trust rating is based on the following:

  • The company has existed for quite a few years.
  • It has a valid SSL certificate.
  • There are several positive reviews about the site.

However, ScamAdviser also flagged the website for not having many visitors and not being optimized for search engines. The website’s owner also hides their identity with the WHOIS service.

Scams

ScamAdviser’s trust rating means that Paybotic’s website is not a scam. There are also no scam reports about the company.

Lawsuits

There are no lawsuits against Paybotic.

 

Paybotic Customer Reviews

Paybotic has a lot of client testimonials on the website. The clients rave about the company’s services that allow them to accept card and alternative payments. They say the staff has been courteous and supportive of their needs. According to the clients, they almost have zero problems with Paybotic, and most of the issues they encountered in the past were due to their system’s fault.

paybotic-trustpilot-review

The company has a 4.7/5 rating on Trustpilot. That rating is based on 47 reviews. The clients call it the only legit payment processor in the industry of cannabis businesses. They also praise the company for being prompt and reliable. Those who had trouble with the system note that they received excellent support from Paybotic’s staff.

On Facebook, it has one positive review. The customer even mentions the staff member who helped her set up the system.

 

Conclusion

Paybotic may just be the best payment processor for the cannabis industry. Customers have been raving about the services, saying that they streamlined their business processes and enabled them to reach more markets. If you are in a high-risk industry, you need to check out the products and services that Paybotic offers. You might find the system or platform that will best support your business.

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