MMJ, CBD and Collections: Our Takeaways From Transact 16

MMJ, CBD and Collections: Our Takeaways From Transact 16

When Instabill exhibited at the Transact 16 convention and tradeshow last week, we took note of several recurring themes and popular discussion points when visitors dropped by our booth. Transact 16, held Apr. 19-21 at Mandalay Bay in Las Vegas, didn’t disappoint.

Here are some of the more popular inquiries we faced:

Q: Can Instabill find payment processing for medical marijuana?

A: Yes. Instabill partners with an international bank which enables us process credit card transactions with an aggregate solution.

Q: Can Instabill find payment solutions for CBD merchants?

A: Yes. Instabill has an international payment processing solution for CBD as well as the aforementioned solution regarding medical marijuana.

Q: Can Instabill offer payment solutions for debt collection?

A: Yes. Debt collection is not an easy industry for which to furnish solutions, but Instabill can get it done, even purchased debt (with processing history).

We were very encouraged by several visits from low and medium risk payment processors inquiring about partnering with Instabill for high risk merchant account leads, which is our forte. We’ll be pursuing those possibilities aggressively.

Why Transact 16 Attendees Should Pay Attention to Instabill

How does a business measure success at a tradeshow? It will months to accurately answer, from the follow-up phase until we can get a particular merchant or partner fully integrated.

The goal of any tradeshow is to showcase your company’s assets and display how your company can benefit others. With the best partner revenue sharing arrangement in the payments industry – 60 and 70 percent shares – we have long encouraged agents, ISOs and even competing PSPs to send us their high risk, hard-to-place leads.

There Are Always a Few…

We were also approached by merchants seeking payment processing for industries we’d never heard of, (for which we cannot provide payment solutions at this time): IV cleansing (to speed the sobering process) and a company that leverages improved credit out of a consumer’s consistent monthly bill payments.

We enjoyed the conversations immensely though.

If We May Suggest…

Instabill has attended ETA Transact for 11 straight years, by far the longest of any of the half dozen tradeshows we attend each year. In speaking with other exhibitors and attendees, we felt attendance was down. In fact, we feel it would make sense if the cost of a tradeshow floor pass, especially for non-members, was reduced (it is currently $650 for a floor pass for a non-ETA member).

“Compared to when we first started attending, there was a lesser amount of foot traffic,” said Instabill CEO Jason Field. “By charging so much money for agents, we feel it puts an agent off from attending. It’s a lot of money to attend these shows. Add hotel, meals and cab fare, and it’s a lot more money.

“That said,” he continued, “We had some very productive meetings at our stand with many companies.”

You’ll Be Hearing From Us Soon

Within two weeks, we’ll be reconnecting with the good folks behind the stack of business cards we collected from Transact 16. To refresh your memory, Instabill has a proven, trusted network of domestic offshore and international banks that specialize in high risk industries most processors are unable to provide.

Where to Next?

Instabill will attend the 2016 CNP Expo May 23-26 at the Loews Royal Pacific Resort in Orlando. To schedule a meeting about high risk partnership opportunities, e-mail CEO Jason Field directly at jfield@instabill.com.

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