Merchants work with the Venu team to submit an application to join the network. Once the application process commences. Merchants will interact with the team via our merchant portal available at access.venu.bank.
Payments just got superpowers
Cannabis payments solved
Meet Venu, a cashless payment solution delivering a higher return on your transactions. Venu is a bank-built and bank-backed payment solution developed for highly regulated businesses. Venu was built to serve the cannabis industry by providing a bank grade cashless payment solution.
Safe and compliant
Cannabis is credible
Venu is built and backed by MainStreet Bank and its financial technology division Avenu. Venu is the first bank-managed payment solution, built to the highest regulatory standards within our own exclusive payments network. With Venu, payments now have the superpowers merchants and cannabis business owners deserve with, compliant bank-backed payments.
Not worth the risk
Break free from grey area payment solutions
Keep your customers on the safe side of payments, with Venu. Grey area payment solutions are not good for the cannabis industry, your business or your customers. Step into compliant, bank-backed payments that elevate your business and empower your customers.
Cashless ATMs are primarily marketed to merchant types that are unable to obtain payment services. Supporting this scheme affects the integrity of VisaNet and the Plus network, as well as the Visa payment system.
- Visa spokesperson
We instructed financial institutions that offer payment services to cannabis merchants and connects them to Mastercard, to terminate the activity. The federal government considers cannabis sales illegal, so these purchases are not allowed on our systems.
- Mastercard spokesperson
We are different
Connecting you directly with our banking core
We are a bank and a development company; when you use Venu, you are us. Built into our core is transactional fraud protection, anti-money laundering monitoring and compliance monitoring. Additionally, you will be backed by a community business bank, an innovative financial technology division and a reputation built on providing business owners with the tools and support they need to thrive.
Bank backed
The Venu payment solution is built by Avenu, a division of MainStreet Bank
Funding made simple
Say goodbye to risky payment solutions and cashless-ATMs
Reliable payments
With Venu, funds are transferred instantly from the customer's Venu account
How it works
Streamlined process,
no messing around
QR code generated
Customers launch their Venu app and generate a unique QR code
Accept payment
Merchants scan the customer's QR code at checkout
Transaction complete
Funds are instantly transferred from the customer's Venu account
Features & benefits
Quick, easy and hassle free
Our banking core
Created by a an established community business bank
Fraud prevention
Advanced network security, and multi-factor authentication
Transparent fees
Straightforward, consistent structure with no hidden fees
Positive funds model
Reduces the likelihood of a legitimate return or a dispute
Reduced security risk
Eliminate risks related to managing cash purchases
FDIC insured
Protect your deposits up to $250,000 securely and without worry
Monitoring & reporting
View closed loop transaction activity and summary reporting
Account management
Online account management for deposit account
Customer support
Reliable & responsive assistance whenever you need it
FAQs
How do I sign up?
What documents are required to get started?
Venu merchant applicants provide documentation to validate their business, relevant state licensing and registrations, ownership, and financials. The Venu team guides merchants through the onboarding process to support a seamless experience that meets MainStreet Bank's Know Your Business standards.
What are the Venu terms and fees?
Terms for the Venu program are month to month, up to 3 years.
New Venu merchants will pay an implementation fee that covers the one-time application fee and set up of the Venu Network for a single location.
Fees associated with the Venu program include an implementation/application fee, monthly account fees, standard fees for wire and other common banking services. Transaction fees for the Venu network are highly competitive. All merchant fees benefit from earned offset based on monthly account balances.
What is the expected funding time for payments?
Customer purchases made through the Venu network transfer net of settlement fees to the merchant's MainStreet Bank account for access the next day.
Where does my daily transaction batch settle?
Merchants maximize their banking benefits by settling their daily transactions into a MainStreet Bank account. Merchants may choose to transfer funds to another institution, however this may impact availability of funds and limit a merchant's earnings credit.
How do I access Venu reports?
Venu reports can be found by logging into your account at access.venu.bank.
How do I complete a transaction using Venu?
Transactions take place using gateway.venu.bank. A budtender logs into the gateway with their ID and assigned PIN. They enter the transaction ID number, the transaction amount ($xx.xx), click on the form of scanning (wand or device camera), scan the Venu QR code on the customer's mobile device, click submit.
Do you offer consumers a split payment option?
We encourage customers to pay their transaction in full using their Venu account. Merchants have flexibility to accept the Venu account payment type and cash, for example. Because merchants enter the specified amount to pay using the Venu network, the flexibility exists to support split payments.
Who can I contact if there is an issue?
Customer support hours are open between 8:30am and 8:00pm ET.
Merchants can call the Venu customer support team at (877) 313-3834, or merchants can reach out via email at access-support@venu.bank.
Customers can call our Venu customer support team regarding Venu app questions at (877) 226-9940 or email the team at support@venu.bank.
Are returns permitted?
The Venu network and Venu gateway support returns. Merchants define their policies concerning acceptable returns.
What is the process for handling transaction disputes?
The Venu app and Venu network operate with strong security controls, which help mitigate the risk of unauthorized transactions. Venu app customers can dispute a transaction in the app. As needed, the Venu customer support team may contact merchants using the customer ticketing system at access.venu.bank to inquire about disputes and requested documentation. Merchants will get notified via an email regarding pending disputes that need a merchant's response.
How do I get started with my Venu app?
You'll need three things:
- Your Social Security Number
- Your US government-issued ID
- A smartphone, computer, or tablet with biometric authentication enabled and a camera to take your picture
During enrollment, we're able to verify your identity with a photo of your U.S. government-issued ID.
How do I fund my Venu App?
Fund your Venu app account with an external bank account. Follow the prompts within the app to add your bank information (account and routing number). At this time, we are not accepting funds from other Fintech accounts (e.g., CashApp, PayPal), debit/credit cards or cash.
When will my funds be made available?
Our general policy is to allow you to use your funds on the first business day after the day of deposit. In some instances longer delays may apply, in which case we will notify you.
How do I dispute a transaction?
Notify us immediately if you find errors on your account statement or in your transaction history.
There are two ways to dispute transactions:
- In-app: Locate the transaction you want to dispute, select the dispute icon and follow the prompts to dispute the transaction.
- By phone: Call us at 1-877-226-9940
How do I cancel my account?
We're sorry to see you go! But if you want to cancel your Venu app and close your account all you need to do is call us at 1-877-226-9940, verify some personal details, and request to close your account.
What do I do if I forget my password?
- Go to your Venu App and tap Settings > Forgot Password
- Enter the last four digits of your social security number and your mobile number
- Reauthenticate your identity through your device
- Choose a new password
Is there a limit on how much I can deposit or spend?
Transaction type
Purchase
Deposits (new accounts <30 days)
Deposits (accounts >30 days)
Limit
5 per day, up to $1000 in aggregate, no more than 25 per month for a total of $5000
2 per day, up to $1000 in aggregate, 10 per month for up to $6000 in aggregate
$2500 per day, 10 per month for up to $7500 in aggregate
Check out the app
Say hello to Venu and download the app
Download the Venu app, and see how easy it is for customers to enjoy cashless payments today. It's as simple and easy as launching the Venu app and tapping purchase to generate a unique QR code.
