Medical Marijuana Merchant Accounts | Cannabis Credit Card Processing
And, our debit card 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 2011, and then major credit card associations changed their policies in 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.
TTG Debit Card Processing
We offer a program that enables legal mmj dispensaries to take swiped debit card payments much like a traditional merchant account.
Although credit card processing rates were as high as 7% when that service was available, the TTG debit card solution is a low, flat rate, right around 3%.
We’re happy to hear the favorable response from many medical marijuana dispensary owners that have implemented our payment solution. Dispensaries have an affordable non-cash solution that customers love and appreciate.
Like Any Other Debit Card Transaction
Here is how our program works:
- After selecting their medicine, the customer swipes their debit credit card through a small terminal on the counter & enters their PIN.
- The sales is complete & the customer leaves happy.
- Funds are transferred to the dispensary’s bank account within 48 hours.
We offer FREE terminals to dispensaries for in-store sales as well as low cost wireless terminals for mmj delivery services.
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 firstname.lastname@example.org.
Get started today!
If you’re ready to set up our debit card processing solution at your marijuana dispensary, download the application below or give us a call today. We’d be happy to answer any questions you may have.
We proudly offer services to legal dispensaries in the following states:
|Montana||Nevada||New Hampshire||New Jersey|
|New Mexico||Oregon||Rhode Island||Vermont|