Dama Financial to Handle Electronic Payments for Verda Customers in the United States

SOUTH SAN FRANCISCO, Calif., June 30, 2021 /PRNewswire/ -- Dama Financial ("Dama"), the nation's largest provider of access to banking and payment solutions for the cannabis industry, has signed an agreement with Canadian ecommerce and delivery leader Verda to manage electronic payments for Verda's U.S. customers.

Based in Waterloo, Verda launched in 2019 and now provides ecommerce and logistics software for a growing number of Canadian and U.S. cannabis companies. Under the terms of the partnership with Dama, for its U.S. clients Verda will integrate Dama's Paytender solution, which allows consumers to pay in-store, online, or at delivery, into the Verda platform. 

"Verda has quickly become an ecommerce powerhouse in Canada, and we look forward to helping them replicate that success as they expand into the United States," said Eric Kaufman, Dama chief revenue officer. 

"Cashless payments are standard for ecommerce, and cannabis is no different. Customers want to purchase online seamlessly, and our partnership with Dama allows that to happen. We are really excited to relieve this massive pain point for our U.S. customers," said Evan Adcock, Verda co-founder and chief executive officer.

In addition to Paytender, Dama's offerings include access to FDIC-insured Premier Banking, Dama Smart Safe, installment loans, secured credit cards, cash management, and merchant services with its sponsoring FDIC–insured partner banks.

About Dama
Based in South San Francisco, Calif, Dama is the cannabis industry's leading provider of access to banking and financial services, powering safe and secure depository solutions for top licensed cannabis operators throughout the United States as well as electronic consumer payment solutions. The company was founded in 2017 by a team of world class fintech and payments executives to provide high-risk industries with critical access to fundamental financial solutions. Dama has leveraged its experience in other unbanked categories to develop solutions, driven by its proprietary technology platform, capable of navigating a complex web of regulatory and compliance requirements. The company's expansive product set, including Premier Business Banking, Paytender and CashToTax, fueled 350% top-line growth in 2020.

About Verda
Founded in 2018, Verda is an all-in-one, compliant cannabis ecommerce platform. Verda is the simplest way for licensed recreational dispensaries to sell products online for delivery or pickup. Embedded on their website, stores can accept cashless payments (U.S. & Canada), manage delivery taxes, logic, and routes—all integrated into their existing tools and workflow.

© Dama Financial. All Rights Reserved. Dama Financial is an agent of its partnering financial institutions and licensed money transmitters. Your funds will be deposited into a custodial account maintained for the benefit of account holders at one or more FDIC-insured institutions. Fees, terms and conditions apply to depositing funds into and using your Account. Account terms and conditions and fee schedule are available upon registration to access the online application.

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SOURCE Dama Financial

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