MMJ Dispensary Merchant Services | Medical Marijuana Processing
MMJ dispensary merchant services, medical marijuana processing. Banks nationwide are struggling with the dilemma of offering vendors of medical marijuana credit card processing. Not only do such businesses find it difficult to get needed credit card services, they also face challenges opening simple bank accounts. Due to the conflict between state laws, which have legalized the sale of medical marijuana, and federal laws, which prohibit it, both banks and merchants are left in limbo.
Illegal or Not?
The question of legality is one that is currently being addressed in Colorado and California. Rep. Jared Polis, D-CO and fourteen other members of Congress have appealed to Timothy Geithner, Treasury Secretary, to provide reassurance for financial institutions. Additionally, Ron Paul, R-TX, and Barney Frank, D-MA, have cosponsored a bill to repeal laws making the use of medical marijuana illegal.
No statement has been issued by the office of the Treasury in response to the letter and the bill has not yet made it to the floor for debate. As such, federal law remains in place, leaving both banks and businesses waiting for a resolution.
Looking Beyond the Banks
Of course, no niche is left untapped for long. Even if banks aren’t willing to step out on a legal limb, there are other solutions available for businesses that are considered too high risk.
At The Transaction Group, we have a solution in place for medical marijuana credit card processing, allowing dispensaries to accept card payments. The many dispensaries that we have already set up with this solution love it for the low rates, no credit check, and easy approval and set up.
Customers enjoy the convenience of paying with a card. Keep this option available to them at your dispensary.
Call us to find out more. 888-383-8056!
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Are you shopping for a better rate? Let us save you money!
Most merchants are unaware that interchange rates are adjusted as much as 2x per year. Over the course of several years, those adjustments can hike up a merchant’s rate and cost the merchant thousands in processing fees. Contact us via the form above, or call us today at 888-383-8056. Chances are, we can save you up to 25% over your existing rates and fees!
Why do businesses choose to work with The Transaction Group?
- We aim for 100% customer satisfaction. We understand that the customer comes first. At the end of the day, if the customer is not happy, we’re not happy.
- We offer a FREE rate analysis to every business. In most cases, we can save a business up to 25% on existing rates and fees. But if we can’t beat a customer’s rate, we’re upfront from the start. We don’t waste the customer’s time.
- We are reliable and always available. If a customer has any concerns, we’re available even after business hours. We’ll address any issues immediately.
- We don’t believe in one-size-fits-all.We provide solutions based on the specific requirements of each and every business. What’s best for one small business may not work for another.
- We have a fast & easy setup process. In most cases, we offer a fast and easy approval and set up. While some high risk businesses can have longer underwriting times, we keep the customer informed throughout the process and work for fast approvals.
- We have solutions for every business type. From low-risk card-present credit card processing solutions to payment processing solutions for high risk e-commerce stores, we’ve got it all.
