Luckily for the marijuana industry, the legalization is voted in by each state. 22 state currently have some form of legalization, and like any law, not all citizens are pro-marijuana. Lawmakers and citizens on both sides are teaming up, fighting for tougher regulations or more relaxed regulations. Throughout this process, the industry has been growing, providing state revenues that few other industries can touch. This leads to major problems for new and existing merchants, and the riskiness of this industry is far from changing.
While proponents have many reasons for why they oppose legalized marijuana, they seem to ignore the great things that the tax revenue can do for the communities. In Colorado, schools are being repaired and built by the tax revenue, taking a load off the state’s budget. Every state could use these extra funds, but lawmakers are as divided over the legalization as the public. One of the biggest issues for lawmakers is the fact that marijuana in any form is federally illegal. And since federal law typically trumps local and state law, they fear issues that may arise from their decisions. If Colorado has taught us anything, it is that the state and Feds can disagree, and coexist, and no one gets hurt in the process.
This coexisting could work if merchants can check processors saw the benefits of one another. Some legalized marijuana merchants are becoming “cash only” businesses, which not only cuts your customer base, but also leaves you open to robbery. Some choose PayPal, which is a risky choice because they are notorious for closing accounts without notice. This leaves you without a way to accept payments, and without a way to give refunds if needed. You need to look for an ACH check processing source to help better your chances of succeeding. ACH check processing helps you accept not only checks, but also debit and credit. This keeps your business safe, and it helps you get the funds in your business checking account fast. In addition, ACH check processing is one of the safest ways to process payments, leaving you and your customers secure during the process.
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