Dama Financial will facilitate the secure transfer of online payments within the Amercanex marketplace for wholesale cannabis via its bank partners, the company said.
"At Helix TCS, we have always focused on providing fully compliant, transparent infrastructure solutions to the cannabis industry,” Helix TCS CEO and Executive Chairman Zachary Venegas said in a statement.
“The Dama solution will allow cannabis businesses to transact like any other business would, and I’m proud to bring this first-in-class system to the industry.”
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Garvis Toler, Helix TCS' president of data services, told Benzinga he's excited about the payment integration and what it means for the industry.
“Allowing cannabis businesses to bank and do business like other business is a significant step and will facilitate even more rapid growth in the industry."
Banking and payments have been "a major issue" for the industry, he said.
"This integration has solved that problem, allowing operators to grow their businesses without the additional burden of worrying about moving money. I think this will be a game-changer for the industry."
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