Xplor Technologies Launches Comprehensive Payment Processing for CBD Retailers to Capitalize on Fast-Growing Market

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Jun 30, 2022, 09:00 ET

New comprehensive point-of-sale and payment processing solution enables CBD retailers and industry partners to operate cost-effectively, manage day-to-day operations easily, and comply with nutraceutical regulations.
CBD sales in the U.S. are set to surpass $20B by 2024.

ATLANTA, June 30, 2022 /PRNewswire/ -- Xplor Technologies, a global platform integrating software, payments, and Commerce Accelerating Technologies for "everyday life" businesses, today announced a new solution to help businesses selling Cannabidiol (CBD) products better market, manage, and grow their business.

CBD sales in the United States (U.S.) are set to surpass $20B by 2024¹, 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, they offer 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 at Xplor Technologies. "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, it's 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.

"Every day more businesses are looking for efficient ways to securely accept payments for CBD sales. By embedding Xplor's secure processing technologies into our software, WAAVE is well-positioned to meet growing demand by delivering a seamless payment experience for delivery, online, and in-store CBD sales," said Silvana Carpanelli-Hayes, Founder and CEO of WAAVE Technologies.

Xplor Technologies' tailored CBD solution is available to U.S. retailers now. To learn more visit: https://clearent.com/cbd-payment-processing/

About Xplor Technologies

Xplor Technologies is a global platform combining SaaS solutions with embedded payments and Commerce Accelerating Technologies. Xplor provides enterprise-grade SaaS solutions for SMBs in "everyday life" verticals: Childcare & Education, Fitness & Wellbeing, Field Services and Personal Services – and a global, cloud-based payment processing platform.

With operations across North America, Australasia, Europe, and the United Kingdom, Xplor serves over 78,000 businesses that processed over $31 billion in payments, operating across 140 countries in 2021.

Xplor Pay (Clearent), allows merchants and partners to accept payments anywhere, anytime, with our complete range of payments solutions including point-of-sale, ecommerce, mobile, in-app, recurring billing, e-invoicing, and auto-reconciliation.

To learn more visit: https://www.xplortechnologies.com/

¹ According to a report by BDS Analytics & Arcview Market Research.

SOURCE Xplor Technologies