Retail
Posabit acquires Hypur for $7.5M
April 3, 2023
Posabit Systems Corp., a point-of-sale and payments provider for the cannabis industry, has acquired certain assets from Hypur Inc. in a cash and equity transaction valued at up to $7.5 million, according to a press release.
Hypur provides payment and bank compliance solutions for high-risk industries, including cannabis businesses, and has partnerships with banks and credit unions throughout the U.S.
The acquisition enables Posabit to offer a more comprehensive suite of payment and compliance solutions for the cannabis industry, including redundant PIN debit payment processing, Hypur Pay, a cannabis ACH eCommerce and mobile payment solution, and Hypur Comply, compliance technology for financial institutions serving the cannabis industry.
With the acquisition, Posabit now provides a one-stop shop for all payment and bank compliance needs for cannabis dispensaries, processors, cultivators, distributors and the financial institutions that serve them.
