The Transaction Group (TTG) is a merchant account services provider that has assisted thousands of businesses worldwide with their payment processing needs since establishing in 2004. The company specializes in high-risk industries, including cannabis. And we are proud to be a leading choice for credit card processing solutions by marijuana dispensary businesses in cities throughout the United States such as Portland, Oregon.
Federal law has made banking and merchant services very challenging for legally operating dispensaries. There’s no question that without the ability to accept payments other than cash and have a secure account in which to deposit cash from sales, businesses are at higher risk. Some cannabis businesses, especially newly established ones, don’t realize that they do have a choice not to operate as ‘cash-only.’
Since 2011, TTG has had a credit card processing solution in place that enables marijuana dispensaries in cities like Portland, OR to accept major debit and credit card payments. Our popular solution has been widely used and has been effective at alleviating issues with excess cash-on-hand. It makes bookkeeping easier and is a seen as a value-added service by customers.
Dispensary owners that have been using our services over the years have reported that, given the choice, customers prefer to pay with a debit or credit card rather than be burdened with having to carry large amounts of cash or be required to withdrawal cash from an ATM. The checkout process is a credit and debit terminal-based transaction much like card transactions that we’re all familiar with in our daily lives.
While customers love the convenience of TTG’s solution, dispensaries love the savings it provides over traditional high-risk merchant accounts. With regular merchant services, Portland Oregon marijuana dispensaries would pay credit card processing rates between 5% and 6%. This equates to over $5000 per month in fees. Our solution at TTG has zero processing fees to the dispensary! And the business can expect higher monthly sales revenue, as customers generally spend more each visit when they have the option of using a debit or credit card.
We have a fast approval and set up that can have most Oregon dispensary locations ready to take credit card payments in about one business week. Once the application and approval processes are complete, dispensaries will receive their equipment express mail. The equipment will simply need to be unboxed, plugged in, and connected to a network in order to start processing customer credit cards. Our technicians are always available to walk through the process if needed to ensure the process is smooth.
With TTG’s service you’ll have:
- no holdbacks or reserves
- settlement in 3-5 days
- the ability to accept major credit & debit cards
- a low-cost solution with no processing fees
- online reporting
- banking services available
If you’re looking for a credit card processing solution for your Portland, OR marijuana dispensary, contact TTG today at 888-383-8056. Whether you’re just opening a store or have multiple established dispensaries, you and your customers will appreciate having an alternative to operating as cash only. And if you’re an agent interested in working with us at TTG, we’d love to hear from you too.