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Medical Marijuana Merchant Accounts | Cannabis Credit Card Processing

mmj debit card processingOffer your customers an alternative to paying with cash! The Transaction Group (TTG) and our banking partners have a debit & credit card processing solution for your legal medical or recreational marijuana dispensary!

Our solution works for both retail mmj dispensaries and mmj delivery services in all legal medical cannabis states.

Card Processing in the MMJ Industry

Historically, the medical marijuana industry has been primarily a cash-based business. All legal mmj businesses had no option but to accept the greater risk that comes with cash businesses.

In the mid to late 2000’s several banks were offering merchant account services for medical marijuana dispensaries, enabling them to accept credit cards. However, the number of available credit card processors dwindled to one by 2012.

At TTG, we saw how the changes in banking policy in regard to credit card processing services were adversely affecting the medical marijuana industry. We sought to find an alternative payment solution for our friends in the industry.

Point-of-Banking (POB)

For several years, we offered a program that enabled legal mmj dispensaries to take swiped debit card payments much like a traditional merchant account. This program was known in the industry as point-of-banking (POB) and also referred to as “cashless atm.”

Dispensaries loved the savings over previously high merchant account rates (when they were available). Customers had to enter a PIN and accept the low convenience fee to complete the transaction. Customers were able to use credit cards, but would incur higher rates, as this was considered a cash advance on a credit card.

While POB proved to be an excellent non-cash solution for dispensaries, we were hopeful that a better solution would be available sooner or later.

That time is here!

A New Processing Solution

Through one of our partners, TTG now offers a debit and credit card processing solution that works much like a traditional merchant account, but without the monthly fees and high rates.

At checkout, the customer’s card information is captured using a unique, highly secure smartphone app. The sales is complete & the customer leaves happy.

Sales can also be completed online by adding provided code for a ‘Buy Now’ button. Boost sales by allowing your customers to shop and select products on your website, make a payment and schedule a delivery or store pickup.

The program is free for customers. Dispensaries pay just 1.95% for debit cards and 2.95% for credit cards! 

  • No setup fee
  • No monthly fee
  • Funds received within 48 hours

Best of all, the program offers INSTANT APPROVAL! Apply today and start accepting credit cards from customers at your dispensary today.

Get started today!

If you’re ready to set up our new debit and credit card processing solution at your marijuana dispensary, give us a call today at 888-383-8056 or click here to learn more.

Business Loans For Medical Marijuana Dispensaries

We understand how capital is important for the growth of any business. Medical marijuana dispensaries are no exception. Unfortunately, it is often very difficult for mmj dispensary owners to get approved for business loans from banks. TTG and our banking partners have a business loan program in place for mmj dispensaries.

The cash advance business loan program offers a fast approval process for legal marijuana dispensaries. Funding is based on current monthly sales. The program offers very favorable terms with no set repayment schedule.

Use the business loan funding for whatever purpose necessary at your mmj dispensary. Whether you’re in need of equipment, expanding a current location, or planning on opening an additional retail location, funding can be obtained.

At TTG, we are here for you. Let us help your medical marijuana dispensary. Call us at 888-383-8056, or email sales@thetransactiongroup.net.

We proudly offer services to legal dispensaries in the following states:

Alaska Arizona California Colorado
Connecticut Washington, DC Delaware Illinois
Maryland Maine Massachusetts Michigan
Montana Nevada New Hampshire New Jersey
New Mexico Oregon Rhode Island Vermont