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Southern ITS intros financial tracking system for marijuana kiosks

Las Vegas-based Southern ITS International Inc. unveiled its medical marijuana system Greeniosk to document and audit marijuana transactions.

November 12, 2014

Las Vegas-based Southern ITS International Inc. unveiled its medical marijuana system Greeniosk to document and audit marijuana transactions.

Greeniosk integrates an ATM kiosk with a CRM reporting system to provide a transaction audit trail. Medical marijuana kiosks dispense $250,000 to $5 million in yearly revenues, the company said. While most transactions are done in cash, some dispensaries accept debit cards. Greeniosk is designed to eliminate RICO concerns that cause most banks to decline medical marijuana credit and debit card transactions by providing a level of compliance and auditing.

In a news release, Sylvain Desrosiers CEO of SITS, said, "We have received an overwhelming response to our Greeniosk system from the dispensaries that we have visited and should begin installation of our first units in approximately 4 weeks. Our goal is to install over 100 units in the next 6 months. Our Greeniosk system will resolve several problems for the dispensaries including elimination of manipulation of cash by employees while reducing risk of theft, since the Greeniosk kiosk is a 300 pound reinforced locking safe requiring special keys to open. Dispensaries are not required to make a capital investment in the Greeniosk system. SITS will install the system and kiosk, thereafter recovering its costs via a minimal fee for each marijuana retail dispensary transaction."