Super Processor is a financial technology company that created a new credit card network to service and support emerging, high growth and underserved industry sectors like cannabis and cryptocurrency. Invest Now
These segments of the economy are not supported by the large credit card networks so Super Processor built proprietary technology to enter these markets.
In addition, we assembled a team of banking and credit card leaders to launch and scale the business.
Our initial focus is the cannabis sector which is a $28 billion market that is growing at 14-19% per year, but we are in the middle of multiple implementations into web3 and cryptocurrency segments as well.
Installed core payment processing technology on Super Processor platform which forms the foundation of our proprietary payment processing technology.
C-suite filled out with hiring of CFO and CTO.
Signed first merchant.
First bank partners – North Bay FCU and Gain FCU.
- Legal memorandum completed which demonstrates how Super Processor solutions are legal at federal and state level, and comply with all credit card regulations.
- Coin Hunt World partnership.
First credit card transaction successfully processed.
Super Processor is a new payment processor that can process debit, credit, and prepaid card transactions for merchants and retailers in the general market, cannabis and for the SuperNet brand. SuperNet (a subsidiary of Super Processor) is a credit card issuer that offers a credit card with a revolving line of credit to consumers. SuperNet is also a credit card network that runs outside of the current brands (Visa, Mastercard, Discover and American Express) and is accepted at merchants displaying the SuperNet logo – such as cannabis dispensaries.
The US cannabis market represents $28 billion in sales and is growing at 14-19% each year. Super Processor expects to penetrate at least 10% of the cannabis market within the next 5 years.
Our plans begin with the launch of the credit card product in Q4 2022, driving distribution through general market sales channel partners, POS systems, large multi-state cannabis companies, and cannabis delivery services. We will expand our product offering to include ACH services and debit card processing to become the only payment provider in the cannabis market offering a full suite of payment services that are fully compliant with all federal and state laws and regulations.
The opportunities for Super Processor are massive as we grow in the payment processing space. While there is a clear opportunity in cannabis credit cards, bigger opportunities exist along three vectors –
(1) expanding product offering within the cannabis space e.g. ACH processing and debit card processing;
(2) expansion into other underserved industry segments like web3 and cryptocurrency; and
(3) driving the SuperNet card network into mainstream, general market segments.
The sum of these opportunities offers an upside that is exponentially larger than the cannabis credit card opportunity.
Super Processor competes against many other electronic payment providers who support the cannabis industry. These companies offer consumers the ability to pay using debit cards or ACH transfer. The cannabis payments market is extremely fragmented and none of these companies control a significant share of the market.
For credit card payments specifically in the cannabis space, our SuperNet product is the only card brand network that offers consumers the ability to make cannabis purchases with credit cards.
Key metrics for Super Processor’s business break down along three dimensions.
First, we closely monitor customer measures like number of merchants, number of cardholders, and which customers are utilizing our products.
The second set of measures looks at the activity and return of the customers, so we look at metrics like total amount of money processed, the average revenue per dollar processed, and the average revenue per customer.
Lastly, since we are lending money to consumers, credit risk metrics are front of mind for us. Things like Charge Off Rate, % of Customers Delinquent, and Average Charge-off per Customer help us ensure we are making good decisions on this front.
In a word, Super Processor’s unique value is ACCESS. Our consumer credit card differs from other cards because it can be used at retailers and merchants that the major credit card networks ignore, prohibit, or underserve, like cannabis, cryptocurrency, and web3 businesses. Visa, MasterCard, American Express, and Discover do not permit their cards to be used in cannabis businesses, and are only beginning to allow their cards to be used in the crypto and web3 worlds.
Michael W.K. Tsang, Co-Founder and CEO
- Michael is a 23+ year payment processing industry executive.
- He has been laying the groundwork for the cannabis industry to accept credit cards for over 14 years.
- Expert on payments, card issuing, and merchant acquiring.
dress wedding, Co-Founder and Chief Strategy Officer
- Cannabis industry icon for the last 16 years.
- Co-founder of Harborside, a large California dispensary, that went public on the Canadian Stock Exchange in 2019.
- Longtime advocate for peace and social justice.
John Pfisterer, CFO
- Finance executive with 25 years of experience in credit cards, fintech, and payments.
- Divisional CFO at Capital One for 11 years and first CFO at Paya.
- Deep experience in financial planning, risk management, and data analytics.
Debra Wohlrab, Chief Operating Officer
- 35 years of senior level experience in global financial services organizations.
- Executive at MasterCard.
- Extensive consulting background in financial strategy, product development, and compliance.
Dori Tritt, Chief Technology Officer
- Over 25 years of IT leadership experience in the ERP software industry.
- Over 20 years of consulting experience focused on system architecture, integration, data management & governance, and security.
- Began his career with PeopleSoft.
Advisors and Board Members
Yin Lin, Advisor
- Yin co-founded SheWorx, a women’s event/networking platform.
- Yin advises the company on business development, investor relations, and the New York cannabis market.
Kale Inoue, Board Member
- Kale is a serial entrepreneur and the largest investor in Super Processor.
- Kale has experience as a CEO, CFO, and COO in multiple industries including e-commerce, real estate, and finance.
Super Processor will use the proceeds from the Reg CF to launch and grow the credit card business across the United States. We expect that our offering costs will be $180,000 or 3.6% of the proceeds. Of the remaining funds, more than 50% will be used for people, technology, and other costs to operate the company.
These costs will enable Super Processor to onboard new cardholders and merchants, securely process credit card transactions while managing all the data related to the business and support the customer service and technical needs of our customers.
37% of the proceeds will fund the credit card loans that we extend to consumers which will drive the company’s revenue. The remainder of the proceeds will be used for marketing to grow the company’s consumer and merchant base.