POSaBIT Celebrates Another Successful 4/20 with Record-Breaking Performance

SEATTLE--(BUSINESS WIRE)--For clients of Seattle-based cannabis payments and point of sale provider POSaBIT, 4/20 means one thing: green.

POSaBIT is proud to announce that the company’s retail clients processed nearly $5M in debit transactions on 4/20 alone, serving thousands of happy customers across hundreds of dispensaries in the US.

By investing in skilled staff and technical redundancies, POSaBIT was also able to avoid the downtime suffered by others in the industry, leaving many cannabis patrons unable to make a purchase on the biggest holiday in the industry.

In fact, POSaBIT has not suffered downtime on 4/20 since the company was founded in 2015 even though its volumes have doubled every year. April 20^th (“4/20”) is the busiest day of the cannabis year and a widely-recognized holiday. Many cannabis companies expected the highest single-day sales ever for the sector thanks to a combination of factors: increased legalization, exclusive deals and discounts, and a growing number of Americans celebrating 4/20.

Ryan Hamlin, CEO and co-founder of POSaBIT, said: "We are thrilled to celebrate another successful 4/20 with our customers and partners. Zero downtime for merchants, point of sale and payments systems is a bit boring at this point, year after year. But we are proud to be boring, because that means that our customers don’t have to worry about the POSaBIT platform. Our customers can focus on running their business instead. Our success today, and that of our clients, is a testament to our hard work and commitment to providing the best point of sale and payments solution for the cannabis community. We are grateful for the trust and loyalty of our customers, who have chosen POSaBIT as their preferred point-of-sale and payments provider. We look forward to continuing to serve them and grow with them in the future."

The POSaBIT platform, recently united with Hypur, is designed to handle high volumes of transactions without compromising speed or accuracy. POSaBIT's customer service team is always ready to assist clients with any issues or questions they may have, ensuring a smooth and seamless operation.

About POSaBIT

POSaBIT (CSE: PBIT, OTC: POSAF) is a FinTech, working exclusively within the cannabis industry. We provide a best-in-class Point-of-Sale solution and are the leading cashless payment provider for cannabis retailers. We work tirelessly to build better financial services and transaction methods for merchants. We bring cutting edge software and technology to the cannabis industry so that all merchants can have a safe and compliant set of services to solve the problems of a cash-only industry. For additional information, visit www.posabit.com.