Anchorage Marijuana Dispensary Credit Card Processing
The medical and recreational marijuana industry in Alaska is exploding in growth. As cannabis products are becoming more widely accepted by a broader spectrum of customers, dispensary owners in cities like Anchorage are serving more and more customers each month. While this growth is a good thing for business, businesses that continue to operate without a credit card processing solution may be hurting their sales and doing a disservice to their customers.
The Transaction Group (TTG) is a merchant account solutions provider that specializes in setting up credit card processing solutions for high risk businesses. Since opening our doors in 2004, we’ve helped thousands business owners with their payment processing needs. And in 2012, we started working with marijuana dispensaries who were operating as cash-only by providing a new payment solution that enabled customers the pay with debit and credit cards.
In the time we’ve been in this industry, TTG has come to understand the needs of dispensary customers almost as much as the Alaska dispensaries themselves. We have learned that, given the option, customers prefer to pay with a card, even when there’s an onsite ATM available. For some customers, carrying large amounts of cash to a store to purchase products is a risk that they just don’t want to take. For many other customers, debit and credit cards are a convenience that they simply can’t live without. We’ve also learned that when paying with a debit or credit card, customers tend to spend 15-20% more per transaction than with cash.
It’s understandable that a lot of businesses in the industry are not aware that there’s an alternative to operating as a cash-only business. But it’s time for businesses like these to get with the times. TTG’s credit card processing solution is a win win for marijuana dispensaries in all cities in Alaska, including Anchorage.
Dispensary owners in states throughout the US that have TTG’s solution in place love it because it costs very little to use. When traditional merchant accounts were available for businesses in this industry, rates were 5-6%. These high rates would cost businesses thousands of dollars per month in processing fees. With TTG, there are no processing fees.
Business owners that utilize TTG’s services, will have:
- The ability to accept major credit cards and debit cards
- No processing fees
- No reserves or holdbacks
- Banking services
- Online reporting
Setting up a payment processing solution is incredibly fast and easy. Thanks to our streamlined application and approval process, most Alaska cannabis dispensaries can have a system that works much like a traditional merchant account in place in a week to ten days. We ship the pre-programmed credit card terminal and other equipment express mail. All the business needs to do is unbox the equipment, plug it in and connect to a network.
Whether you just opening a new business in Anchorage, or have an established marijuana dispensary business with multiple locations in Alaska, allow TTG to set your business up with a credit card processing solution. Contact us at 888-383-8056 to learn more or get started today!