Cannabis Dispensaries Can Now Accept Credit Cards
Marijuana Dispensary Merchant Accounts & CBD Merchant Accounts…
With the rise of medical legalization, recreational legalization and also CBD adoption, the banking and credit card processing climate around cannabis has been volatile to say the least.
Since the advent of recreational legalization, the ability to process credit card payments for marijuana and CBD has been allowed and disallowed several times. Generally, when a solution has cropped up (pun intended), it has been a workaround that pushes the limits of legality.
Those options have been expensive, unreliable and ultimately resulted in a huge expenditure of time and money for cannabis entrepreneurs who used those options. A CBD flower contains the highest quality CBD and less than 0.3% THC and may be used for medical purposes too.
UPDATE: 2021-08-10
Easy Pay Direct offers CBD merchant accounts to process credit cards domestically (in the US & Canada)
This will look and feel just like processing credit cards for any other business.
- Each batch of transactions will be settled into the business’ bank account daily.
- No reserves will be held (in nearly all situations).
- The business’ name will be displayed in the descriptor of the consumer’s credit card statement.
- A standard credit card terminal will be supplied and used to process transactions.
- The merchant account, bank account and business will all be in the United States.
Can Marijuana Dispensaries Accept Credit Cards?
The short answer to this is “not without a workaround”.
The best option as of 2021-08-10 is to have a terminal placed at your counter that works as an ATM. This allows consumers to run their debit cards (that have a visa or mastercard logo) at the point of sale. This offers the opportunity
As of 2021-08-10, there are no sponsor banks in the Visa or Mastercard associations that allow cannabis dispensaries to accept credit cards.
Any merchant account provider that is allowing you to actually accept credit cards is doing by defrauding their member bank. More simply put, any ISO or credit card processor that is knowingly allowing a marijuana dispensary to accept credit cards is allowing their bank end bank to believe that it is a different type of business.
Easy Pay Direct is actively tracking the ever evolving cannabis space. Rest assured, we will be the first of the Marijuana Merchant Account providers when it’s a possibility.
In the mean time…
You can also setup a CBD Merchant Account
Easy Pay Direct has been working with high-volume, “high-risk” accounts since 2009 and we’re experts in “high-risk” online merchant accounts and credit card processing. We’ve been processing for CBD (on and off as was legal) since 2014
When you open an account with us you can trust you have:
- Experts dedicated to making sure you’re up to date with industry regulations for credit card processing.
- A reliable merchant provider that knows how to keep YOUR BUSINESS from being shut down in a rapid-paced, ever-evolving industry.
- A single point of contact for your questions and solutions for your online merchant accounts.
- Human help. Your priorities are our priorities and we’re here to make it simple, effective and easy for you so you can focus on running your profitable business.
Call us here: 800.805.4949 or Click here to sign-up with us today and we will be happy to do what we can to make your life easier!
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