Xplor Technologies has announced a new point-of-sale and payment processing solution for CBD retailers to better market, manage and grow their business.
According to a report by BDS Analytics & Arcview Market Research, CBD sales in the U.S. are set to surpass $20 billion by 2024, but today’s retailers selling these products have been left behind by many leading payment providers. Many of these small businesses have struggled to fully establish themselves, due to the complexity of local and federal regulations for CBD sales in the U.S.
Xplor Technologies has created a seamless way for small- and medium-sized businesses to take payments, retain customers and succeed in this rapidly growing marketplace. Also known as Clearent, Xplor Technologies is now one of the few providers offering reliable payment processing, specifically designed for the CBD industry.
With this launch, it offers the powerful market-leading combination of a secure and reliable payments platform, profit-enabling programs such as cash discounts and surcharging and built-in inventory management, marketing and loyalty tools. This unique combination will help CBD retailers build lasting communities of buyers as they seamlessly accept payments across multiple sales channels and more easily promote their products to consumers. The solution also provides the ability to reduce operating costs by making back-office tasks more efficient.
“We look forward to supporting CBD businesses with our tailored Xplor Pay point-of-sale solution, which will help them reduce operating costs, improve profitability and build lasting relationships with recurring customers,” said Matt Morrow, chief revenue officer, Xplor Pay. “We understand the pain points CBD retailers face, and we’re uniquely positioned to help them not only overcome these, but also drive more value in this exciting, fast-growing industry.”
With a proven history of supporting businesses in complex, highly regulated industries, Xplor Technologies is committed to helping CBD retailers and industry partners remain compliant with stringent regulations governing the sale of CBD products. Xplor has a team focused on staying up to date on federal, state and local CBD regulations. In addition, its CBD payment processing solutions leverage risk monitoring tools on an ongoing basis, which helps businesses avoid unexpected shutdowns and surprises. In 2021, Xplor Technologies served 800 partners and helped over 78,000 businesses process $31 billion in payments.
With operations across North America, Australia, Europe and the United Kingdom, Xplor operated across 140 countries in 2021.