The Transaction Group (TTG) is a merchant account services provider that has been assisting businesses with payment solutions since 2004. And we specialize in high-risk industries, such as cannabis. Since 2012, we’ve been offering credit card processing services to Los Angeles marijuana dispensary locations. We’re proud to offer these services to both medical and recreational dispensaries in California.
While we believe it’s a no brainer that operating a marijuana dispensary as a cash-only business is a bad idea these days, we realize that some dispensaries have been hesitant to adopt a solution like TTG offers. If you own or manage a dispensary and have been on the fence about setting up a payment processing solution, allow TTG to help get your business moving in the right direction.
There’s no question that operating as ‘cash-only’ brings unnecessary risks and headaches to a business. Excess cash on hand is more difficult to manage and is undoubtedly more dangerous. With TTG’s streamlined credit card processing solution, Los Angeles, CA marijuana dispensaries will operate more smoothly, safer, and see a reduction of their total cash on hand. And they will likely see an increase in total sales, as the ability to pay by card encourages larger purchases by customers.
From what our dispensary clients have reported to us over the years, customers gladly use their debit or credit cards to pay for their products and truly prefer it over carrying cash or pulling money out of an onsite ATM. At checkout, a customer pays for their products with a credit card just like any card transaction that we are all familiar with in our daily lives.
The many dispensary owners in all of California that have implemented our solution love it for several reason, especially due to the incredible cost savings over traditional merchant accounts. Merchant accounts that were being offered by big banks up until 2012 had rates as high as 5-6%. With an average credit card volume of $100,000, these rates required businesses to pay $5,000- $6,000 in fees. TTG has zero processing fees.
TTG will help set your business up with a safe solution that can truly make your business accounting simpler and save you money.
Some of the benefits of TTG’s payment processing solution include:
- No holdbacks or reserves
- Settlement in 3-5 days
- Accept major credit & debit cards
- Pay no processing fees
- Online reporting
- Banking services
Getting a dispensary set up with our payment solution couldn’t be easier. Once approved, we ship the pre-programmed terminal express mail. Then, it can simply be plugged in and connected to a network. Typically, it takes just minutes to set up the equipment and then the business can start taking customer credit card payments.
If own or manage a retail location and are ready to stop operating as ‘cash-only at your Los Angeles, California marijuana dispensary, allow TTG to set you up with our credit card processing solution. And, if you’re an agent looking to help set dispensaries that could use our services, we’d like to hear from you. Contact TTG today at 888-383-8056.