Get the Best Credit Card Processing Solution for your Grand Rapids Dispensary
The cannabis industry is growing in all areas in Michigan, including Grand Rapids. Established marijuana dispensaries as well as new ones are enjoying steady business from patrons. But just because business is good it doesn’t mean businesses are left without challenges.
Possibly the greatest challenge for every cannabis dispensary owner in the US over the past ten years has been setting up credit card processing services to take non-cash payments from customers. It’s no different in Grand Rapids today and dispensaries are often unaware of their options. This leads to a predicament between businesses and their valued customers.
Some business owners in this industry feel that their only option is to operate as a cash-only business. And customers, in general, do not like to carry large amounts of cash to make purchases of medical and recreational cannabis. Often the only solution businesses see fit is to have an onsite ATM for customers. The fact is, ATMs are a hassle to restock and operating a cash-only business is less than ideal for accounting purposes and due the risk of theft or robbery.
The Transaction Group (TTG) has a unique solution that enables customers to use debit or credit cards for payment at checkout. Many marijuana dispensaries throughout the US have depended on TTG’s payment processing solution since 2012. And, TTG is not new to Michigan. We have helped cannabis stores in Grand Rapids and other cities in the state with their payment needs since 2018.
TTG’s solution is a value-added system for businesses that is actually a win win. Customers love the ability to pay for products with a debit or credit card and it has been reported that given the option, they tend to spend 20% more on purchases than when they pay with cash. Customers leave happy and the business generates greater revenue.
Dispensary owners love our solution because of the incredible cost savings over a traditional merchant account payment solution. When they were available, rates for marijuana industry businesses were as high as 5-6% because these businesses are considered high risk. With these rates an average sized dispensary can expect to pay $6000 per month in fees.
With TTG’s debit and credit card processing solution, there are no processing fees. That means that Grand Rapids cannabis dispensaries will save thousands over a traditional merchant account. Should traditional merchant accounts become available in the near future, we anticipate rates to be this high again and our option to continue to be the preferred solution.
Getting started with our solution is incredibly smooth. We have a streamlined application and approval process that will have just about any dispensary approved in 1-2 business days. As soon as a business is approved, we ship the equipment express mail. All that is needed at that point to start processing credit cards is to unbox the equipment, plug it in and connect to a network.
When you choose TTG, you’ll get:
- The ability to accept major credit cards and debit cards
- No processing fees
- No reserves or holdbacks
- Banking services
- Online reporting
If you’re just starting a marijuana dispensary in Grand Rapids or have an existing store that needs a credit card processing solution, allow TTG to work with you. Contact us at 888-383-8056 to learn more or get started today!