Even though, it is perfectly legal to sell online medical marijuana for dispensaries in 18 states of the 50, federal laws are still against the use of marijuana even for medical use. The confusion around federal and state laws related to the use of medical marijuana leads many banks to discontinue their banking services to MMJ dispensaries and potentially put the entire industry on financial risk. Many big banks avoid confrontations with the federal authorities and turned hostile towards the medical marijuana industry the last few years.
It is a common problem with medical marijuana dispensaries to switch banks frequently due to the hostility of banks and their ever changing demands for providing financial services. The uncertainty of banks towards providing financial services to medical marijuana dispensaries created a financial risk for the entire industry that otherwise are doing excellent in terms of bottom line. Due to new scientific research related to medical benefits of marijuana and awareness in masses about marijuana as a medical cure for a number of medical conditions, the demand for medical marijuana in United States is more than ever.
Even though, there is high demand for medical marijuana, financial services and frequent account discontinuation from banks make it hard for medical marijuana dispensaries to allow credit card payments on their websites. Beside the fact that all major banks and other financial institutions are moving away from the marijuana industry, the online medical marijuana merchant account providers are keeping the industry alive at least online. Websites like marijuana-merchant-account.com provide specialized MMJ payment processing solutions to medical marijuana dispensaries that allow them to make online payments as an option for their customers on websites.
In the absence of banks and other financial institutes, many online merchant account providers like marijuana-merchant-account.com step up to provide the required financial services to the industry, Today, there are hundreds of websites that provide medical marijuana merchant account to dispensaries. Most Merchant Account providers categorize MMJ under the high risk category and impose special terms and conditions. With major banks and credit card processing companies pulling back, online merchant account providers provide many creative and innovative channels to keep the online finances flowing for the MMJ industry.
Marijuana-merchant-account.com are popular for their specialized online processing solutions for high risk industries like medical marijuana. They have providing online financial services to medical marijuana dispensaries and other high risk business since 2011. Their solutions help you choose from the pocket full of processing methods that are legal for the industry. Dispensary owners now have freedom to choose from the set of processing methods that best suits their interests and financial goals. To set up your medical marijuana merchant account with the company, you can visit their site and talk to their customer support staff that can guide you about all the legal issues involved and best possible ways to go around them. Marijuana-merchant-account.com is the sister company of eMerchantBroker.com that is designed to provide exclusive services to the medical marijuana industry.