SOUTH SAN FRANCISCO, Calif., May 19, 2023 /PRNewswire/ — Dama Financial (“Dama”), the nation’s largest provider of access to banking and financial services for the cannabis industry, has added Dama Smart Safe to its business toolkit.
Smart safes allow business owners to authenticate and monitor their cash at every step of the handling process. With rapid advancements in counterfeit technology, the detection of fake currency with the naked eye has become nearly impossible. Smart safes are equipped with bill validators that significantly decrease the risk of fraud. At the same time, the cash is reconciled automatically, eliminating the need to spend hours doing it manually.
Dama Financial has added Dama Smart Safe to its business toolkit, allowing businesses to authenticate and monitor cash.
With Dama Smart Safe, the safe can promptly record any deposit as a credit to the customer’s Premier Business account, providing access to the money the next business day. Dama Smart Safes can be configured to meet the needs of any size operation.
“Cannabis businesses deserve solutions that solve real problems.” said Anh Hatzopoulos, Dama co-founder and chief executive officer. “Between human error and the risk of theft, handling cash has become one of the more difficult processes for any business to manage, so we’re proud to roll out Dama Smart Safe to help cannabis operators improve both efficiency and public safety.”
Comments from Dama Smart Safe customers:
“We love the quick access to funds. It’s like having a bank teller inside our store twenty-four hours a day to accept our deposits,” said Kaz Ajir, co-founder of Grupo Flor, which owns the dispensary East of Eden.
“Dama’s Smart Safe Solution saves our operation hours every single day,” said Monica Gray, chief operating officer of Nice Guys Delivery.
Dama’s other offerings include access to Premier Banking (FDIC-insured accounts), credit, cash management, and merchant services.
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 offerings include Premier Business Banking, Paytender, credit, and smart safe solutions. More information is availabl