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Credit & Debit Card Processing For The Cannabis Industry

We Get it.
Finding a reliable debit and credit card merchant processor for your cannabis busines can seem confusing. Unlike other offers out there, we offer a real solution.

This is NOT a Cashless ATM, digital wallet load, peer to peer transfer or gift card system.

You receive all your funds the next day. Every transaction is to the penny.

Your staff will spend less time dealing with physical currency and payment solutions getting shut down.

You will spend less time stressing over where your money is.

Free Terminals

Free terminals for qualified businesses.

Bank Direct Relationship

No work arounds, period.

Increase Your Revenue

30% increase over cash, on average

Can you accept debit and credit cards in your dispensary?

First and foremost, this works for any licensed operator in a US state where cannabis has been legalized and has active seed to sale tracking. It is a best fit for operators who are tired of playing the “back up terminals for your back up terminals” game.

How does this system work?

Customers may choose to pay a variety of ways - all in exact dollars and cents (eg., no rounding) - on our terminals. There is no ID scanning or text message involved.

Is this solution legal?

YES. To provide a glimpse, on every transaction, we are performing a KYC, submitting SAR reports, as well as OFAC and OCC filings. This is a high cost and has been an insurmountable price for every cannabis payment provider until now. With that said, there is a lot more to our compliance and we will not disclose this publicly. Book a meeting with us to learn more.

Where is money held?

At an FDIC insured, US based bank.

Are there any hidden or monthly fees?

No.

Who is this solution not for?

It is a poor fit for merchants whose sole concern is how much of a kickback they will receive per transaction. It is also a poor fit for merchants who feel they must have redundancies in place. We require exclusivity.

Why is card processing for marijuana dispensaries considered high-risk payment processing?

What is high-risk payment processing?

High-risk payment processing is a specialized service tailored for businesses deemed to be at a higher risk of chargebacks, fraud, or regulatory scrutiny. This often includes industries like adult entertainment, travel and tourism, gambling, pharmaceuticals, e-commerce, and companies dealing with controversial products such as CBD and vaping.

High-risk payment processing refers to the specialized services provided to businesses deemed higher risk by financial institutions and payment processors. These businesses often face increased scrutiny due to their susceptibility to chargebacks, fraud, or regulatory challenges.

Criteria for Classification as High-Risk

Businesses are classified as high-risk based on several criteria:
● Industry Type: Sectors such as adult entertainment, travel, gambling, pharmaceuticals, and CBD products are usually flagged as high-risk.
● Business History: New businesses or those with a poor credit history may fall into this category.
● Chargeback Rates: Companies with a higher-than-average rate of chargebacks often require high-risk merchant accounts.
● Regulatory Scrutiny: Businesses operating in highly regulated industries are considered high-risk due to potential legal complications.
● International Sales: Reliance on cross-border transactions can elevate a business's risk status.
● MATCH List Inclusion: Previous listing on the MATCH (Member Alert to Control High-Risk) list can lead to a high-risk classification.
Understanding these criteria helps businesses identify whether they need high-risk payment processing services and prepares them for the unique challenges they might face. This knowledge is crucial for navigating the complex landscape of high-risk merchant processing effectively.

Common Challenges Faced by High-Risk Merchants

High-risk merchants encounter a variety of challenges that can impact their ability to conduct business effectively. Two of the most significant issues are chargebacks and fraud risks.
Chargebacks
Chargebacks occur when customers dispute transactions, leading to the reversal of charges. For high-risk industries, chargeback rates tend to be higher due to:
● Customer dissatisfaction: Often stemming from unmet expectations or miscommunications.
● Fraudulent activity: Unscrupulous individuals may falsely claim that they did not authorize the transaction.
● Service disputes: Particularly common in industries like travel or adult entertainment where services are intangible, leading to potential disagreements over quality or delivery.
High chargeback rates can result in significant financial losses and damage relationships with payment processors.
Appy Here

FAQ's about Accepting Credit and Debit Card Payments for you Marijuana Dispensary

High-risk payment processing refers to the handling of transactions for businesses classified as high-risk due to their industry, transaction volume, or history of chargebacks. This type of processing is crucial for businesses in risky sectors, such as CBD products and adult entertainment, as it provides tailored solutions to meet their unique needs.

The short version is that they mask the nature of the transaction from all necessary parties. Digital Wallet and P2P companies serve as a middle man between Financial Institutions and your business - an avoidable and unnecessary risk. When middle men are used to facilitate cannabis transactions, they always get caught, shut down, and you never receive the money owed to you. Considering the standard 3-5 days of arrears, you could lose hundreds of thousands of dollars.

It is a MYTH that workarounds like these are necessary for this industry.

There is a lot to unpack here. First, a gift card network gets audited by many regulatory parties when the network hits $10 million a month in processing. Gift card solutions lack the sophistication to obfuscate the nature of a transaction.

In the case of cannabis transactions, being that this is a schedule 1 narcotic, this is immediately recognized by regulators, the network shuts down, and all funds get seized and held. 

These funds are also never FDIC insured.

They facilitate money laundering and fraud at many levels. The banks do not know nor consent to them running on their rails, the ATM networks do not know or consent to their use of their gateways, and the card brands do not know or consent to their cards being used to transact on a “money laundering device.”

With that said, Cashless ATMs have never had more issues than in this year.

Regulators are going after them in full force. More shutdowns are on their way.

When selecting a payment processor for a high-risk business, consider factors such as the provider's industry experience, customer support capabilities, transparent fee structures, and third-party reviews. It's important to evaluate how well the provider's offerings align with your specific industry requirements.

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Start Accepting Credit & Debit Cards in Store

Our high risk payment solutions allow most businesses to accept card payments at your physical location, as well as online.

Optimize Your Payment Solutions for Growth

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Phone: +1 (914) 758 5200