Common Questions for Zenco Mobile - asked by consumers
About Zenco Mobile Pay Program
What is Zenco Mobile?
Traditional credit cards and payment apps cannot process payments for cannabis related purchases. Zenco Mobile was developed in participation with banks/credit unions and payment processors to help consumers pay for these purchases hassle free and cashless. Now consumers can stop paying ATM fees and enjoy the convenience of paying via their cell phone to shop for cannabis products.
How does Zenco Mobile work?
Zenco in partnership with a third-party processor provides a technology platform to enable users to initiate the transfer of funds from their checking account directly with their bank to pay for their purchase. Zenco Mobile enables the use of the closed-end bank to bank payment network to process your payment from your bank account directly to the store.
Is Zenco Mobile a Gift card or a "storeD-Value" wallet?
No. Think of Zenco Mobile as an electronic debit card that you carry in your wallet. That debit card issued by a bank in your wallet cannot process your purchases for cannabis products because they are issued by VISA/Mastercard. Zenco Mobile will process the purchase as a debit payment in the exact amount of the transaction from your checking account at the time of purchase. So you don't need to load funds into your Zenco Mobile account before you decide to purchase. Zenco does not hold on to your money at any point of the transaction.
Do I have to pay a convenience fee?
No. Zenco never charges the consumer for the use of its payment app. Zenco Mobile is free to sign up. However we understand that to offset the higher banking charges levied on cannabis retailers, some merchants may charge a transaction fee. If they do, we do not participate in any way or share any portion of such fee. You should discuss the merchant's policy in this regard directly with them.
How long does it take for the zenco MOBIlE account to become active?
Once you have enrolled, your account will either be activated immediately, or you'll be sent an e-mail with instructions for verification. Over 80% of applications are approved instantly. However, if you are not activated immediately, the information that you provided will undergo a bank validation process. This process can take up to three (3) business days from the enrollment date. If additional information is needed, you will be notified of the activation step and program details through subsequent e-mail messages. You will be requested to complete the bank verification step in order to activate the payment function. This step requires you to confirm two small test transactions that we post to your bank account for verification purposes.
Why not just use my credit card?
Traditional credit and debit cards cannot process payments for cannabis related purchases, regardless if cannabis sale is legal in your state or not. Zenco is designed specifically to facilitate the cannabis related purchases that other card payments cannot process.
what is an ach debit transaction?
The Automated Clearing House ("ACH") Network is a private network established for participating financial institutions to provide a reliable and efficient nationwide batch-oriented electronic payment system. The Federal Reserve and Electronic Payments Network act as ACH operators, through which financial institutions transmit or receive ACH funds transfer entries/requests.
Where can i use my zenco mobile payment app?
Zenco Mobile operates on a closed-end payment loop network. That means Zenco Mobile can only be used at approved dispensaries/stores. We are working hard to expand the number of stores where you can use Zenco Mobile. Please feel free to encourage your favorite retailer to sign up for Zenco Mobile. They can sign up online by visiting www.Zencopayments.com. It's easy.
how is my zenco mobile payment app used for my cannabis purchases?
Zenco Mobile has partnered with a leading third-party payment processor to jointly offer a technology platform that enables you to link your checking account from your bank to enable you to pay for purchases electronically instead of using cash.
About My Account & Security
Is my information secure?
The security of your data is very important to us. We partner with experienced payment processors who understand and equally value the security of your data. They maintain all bank information and PINS in their secured servers in an encrypted format from the time you submit your enrollment data. Additionally your payment PIN generated in the Zenco Mobile App can only be used one time and expires within 30 minutes after it is required.
Why do I need my e-mail address?
Your account must be registered so that you can use it as a form of payment. An e-mail is required for account registration. You will also receive an e-mail receipt for each purchase that you make using your Zenco Mobile Payment app. Your e-mail also becomes your login to our member website where you can manage payment account information, view your transaction activity and/or change your PIN if needed.
I saw a small deposit and withdrawal in my bank account, what is this?
For security purposes, we validate your enrolled bank account information to ensure that we have the correct account number, the account is open, and, most importantly, that the account indeed belongs to you and that you can access to it. We do so by submitting a deposit and withdrawal to your bank account. The "challenge" transactions are a test to confirm the validity of the account. The enrolled payment account is not activated until this bank verification process is completed. You must confirm these two amounts once they appear in your account. A "verification" e-mail will be sent to you upon enrollment that explains this activation process.
what is my zenco mobile PIN?
Your Zenco Mobile PIN is the 4 (four) digit PIN you created when you enrolled into Zenco Mobile.
Help What do I do if I forgot my PIN and got locked out of my Zenco mobile account ?
You may change your PIN by logging into the secure Manage MY Account portal link at www.Zencopayment.com. Once you log in, click on the link for your card number (at the right side of the screen).
Next you will need to select the "Update My PIN" option. If you forgot your PIN, click on "Forgot PIN?" and follow the directions to reset your PIN to whatever new PIN you want.
Once you hit submit, you will receive an e-mail to the account on file with instructions on how to reset your PIN.
If you've never logged into the Manage MY Account portal before, or don't remember your password, you will need to enter your e-mail address and select "Forgot Password" and follow the steps to reset your online portal password BEFORE proceeding with the "Reset my PIN" steps above.
Next you will need to select the "Update My PIN" option. If you forgot your PIN, click on "Forgot PIN?" and follow the directions to reset your PIN to whatever new PIN you want.
Once you hit submit, you will receive an e-mail to the account on file with instructions on how to reset your PIN.
If you've never logged into the Manage MY Account portal before, or don't remember your password, you will need to enter your e-mail address and select "Forgot Password" and follow the steps to reset your online portal password BEFORE proceeding with the "Reset my PIN" steps above.
I put in the wrong PIN code three times when logging into my Zenco mobile account. Am I locked out?
Unfortunately, yes. For security purposes, all accounts are locked after three failed login attempts. You can log into your member account at Zencopayment.com, click "Forgot PIN?" and follow the directions to reset your PIN to whatever new PIN you desire.
Is there a daily limit on my purchases with zenco mobile?
Yes. This limit is specific to the participating store/dispensary where you shop. Each retailer sets an individual transaction limit specific to their business need and risk. You can contact your retailer about their specific limit.
My zenco mobile account was turned off. how do i reactivate it?
If your account was put on hold because your checking account has insufficient funds, you will need to contact customer service to initiate the necessary funds transfer. Once you've paid any outstanding balances, your Zenco Mobile account can be reactivated and you can continue to use Zenco Mobile at your favorite stores.
How can I review my prior transactions?
Zenco Mobile sends you an e-mail receipt for every transaction you conduct using our payment app. Of course, you can also login to your member account and see the available historical transactions there.
How can I turn off the e-mail alert every time I use Zenco?
Once you have enrolled, log into the member portal at www.Zencopayment.com and click Manage Your Account. Select and click on the account number you use to make your purchases and then click "Update My E-mail Preferences", select "No, do not send me e-mails", and click the "Update" button.
About Fees & Charges
ARE there any fees to enroll and use zenco mobile?
No, there is no enrollment fee and we do not charge a fee to the consumer for the use of the Zenco Mobile Payment app. However we do charge a return fee in the event your bank returns a transaction unpaid. So please make sure that there are sufficient funds in your checking account before making a purchase through the Zenco Mobile Payment app. You may also wish to inquire of your bank whether it has an overdraft protection program for your account which could be used for your payment card transactions to potentially avoid additional return fees.
there was an overdraft fee on my checking account. Do you know why?
Transactions made using this payment app that exceed the balance in your checking account may result in overdrafts and associated fees being assessed by your bank. Please contact your bank for additional information.
do I get charged by my bank for an ACH transaction through the zenco mobile payment program?
Most banks do not charge for ACH transactions submitted to a CHECKING account. This is the same method that is currently used for paying mortgage and car payments and any authorized debits from your bank account. It is possible that some banks may charge a monthly fee for such services. So please check with your bank for details.
what will happen if i make a purchase and don't have sufficient funds in my bank account?
You should not make a payment or use Zenco Mobile to make a payment if you do not have sufficient funds in your bank checking account. If you do, your bank will return the transaction and charge you a fee. Zenco will immediately deactivate your account until you cover the transaction amount and any fees that will be imposed (permissible by state law). Zenco, or assigned agents, will make two attempts to try to electronically collect the face amount of the transaction and the associated return fee. If we cannot collect the funds through these attempts, your account will be flagged and referred to a collection service and your membership will be suspended or cancelled.
I just realized that a store accidentally charged me the wrong amount. what do I do?
We understand that mistakes such as this can happen and we are sorry to hear this. We suggest that you go back to the store with your e-mail receipt where you made the purchase for required assistance.