Health related Marijuana Dispensaries Have Mercantile Files

Although the sale of medical marijuana is currently legal in 14 states in addition to the District of Columbia, these businesses often encounter great difficulty in obtaining merchant accounts. Considered “high risk” businesses, dispensary owners often face personal prejudices as well. Unfortunately, many banks just aren’t prepared to consider opening a merchant account for the master of a medical marijuana store; they consider the legal due diligence to be an excessive amount of a hassle.

Options Beyond the Banks

Considering that approximately 75% of the American thc vape juice discreet shipping usa population uses their debit or bank cards regularly to create purchases, being able to process such transactions can be critical to the success of many businesses. Granted, the marijuana industry was strictly cash based until recently, but times have changed. If your bank is unwilling to even consider offering you a merchant account, it’s time to check somewhere else.

Merchant account firms tend to be more flexible and several are now actually providing essential financial services to the owners of legal dispensaries. Because most dispensaries remain new ventures and they sell a medical product, they’re, automatically, considered to become a higher risk. However, provided that the store owner has a decent credit record and a clear criminal history, that’ll not necessarily prevent them from qualifying.

A Word of Warning

One concern you need to have with regards to obtaining a merchant account for your medical marijuana dispensary is that its not all provider could be the same. Business owners in Colorado were recently surprised when their provider turn off service without the warning. Be sure that you decide on a company with a reliable track record.

3 Advantages to Credit Card Payment

After you have setup your merchant account, your company will make money from several advantages. First, you will have the ability to take orders by phone or online – completing the sale at the store and speeding your web visitors on their way. Second, you will have the ability to carry less cash at the store, reducing the concerns associated with a cash rich business. Finally, tracking sales is likely to be simplified as every purchase will appear in your evening balances.

If you want to accept bank cards at your dispensary, miss the banks and head online to locate a company that understands the unique opportunities and obstacles facing your business.

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