Legalized Marijuana for Recreational Use and Marijuana Payment Processing Account Solutions

Posted on November 17, 2014 by admin

Prior to Alaska legalizing marijuana for recreational use, which is now the fourth state to take this step; many states have passed laws that allow citizens to use the drug for medical uses, currently 23. This is a positive step in the right direction for a drug that you can’t die from taking, but can help a number of medical conditions.

What it does is pose a problem for these businesses who are legally able to sell the drug and the paraphernalia to anyone over the age of 21. The problem they face is finding a banking institute that will provide services, including merchant facilities.

This problem has arisen because of the fact that under federal law marijuana is still illegal. Some of the banking institutions think they pose too great a risk in offering services that are legal in certain states, but still against federal law. There are merchant providers who are willing to offer medical marijuana payment processing account solutions, and with the change in the law to include recreational use in some states, this could move forward to include this area.

There are high-risk merchant providers who will take the risk with the legal businesses that provide a service to people with medical marijuana cards, or, who live in one of the four states that will eventually allow the sale of the drug for recreational use to those individuals who are over the age of 21.

This is an important step forward for Alaska, who have gone to the polls twice before in 2000 and again in 2004, wanting the recreational use of the drug to become legal. They did approve of the medical marijuana use in 1998 and now, in 2014, have taken the step to allow 1oz of the drug for recreational purposes.

This will legitimize a number of businesses making them legal; this will increase the job prospects as well as increasing the taxes paid and improving local economies. Something that will have a positive impact on the states prepared to legalize a drug against the federal government.

Therefore, this is a positive step in the right direction, which will allow the use of a drug for recreational purposes, and allow businesses and economies to grow.

MMA can help you with all your Marijuana Payment Processing, Contact us today!

The War on Drugs Could End this November for Many Americans

Posted on October 30, 2014 by admin

The war on drugs will have more skirmishes this election season. This November the American people won’t be voting on the President, but many will be voting on the legalization and decriminalization of marijuana. Seven states, around 17 municipalities, and one U.S. territory will be voting on drug policy reform questions this November. This is more than at any time in history!

Legalization of Marijuana

In November, Oregon will be voting on Measure 91, a bill that will make the Beaver state the third state to legalize marijuana for adults 21 and older. The measure will legalize the possession of small amounts of the drug and create a system to regulate marijuana sales and production. The District of Columbia has already adopted a wide reaching marijuana decriminalization law. In November, the District of Columbia will take it a step further and propose the legalization of small amounts of marijuana for adults 21 and older. The D.C. Council is also considering the taxation and regulation of marijuana within the district.

Alaska made the possession and cultivation of small amounts of marijuana legal in the 1970s. And in 1998 the state legalized the use of medical marijuana. This year Measure 2 would make the possession of marijuana legal for adults 21 years of age or older, and like the Oregon ballet it would establish a statewide regulated system of cultivation and sales.

Medical Marijuana

Amendment 2 in Florida will propose legalizing medical marijuana in the sunshine state. The successful adaptation of the bill will make Florida the first southern state to approve such a measure, and will make it the 24^th state to recognize marijuana as a legitimate form of medicine. Guam could also become the first U.S. territory to adopt medical marijuana if a current medical marijuana bill is passed later this year.

Other Reforms

California will consider reducing the charge of simple drug possession from a felony to a misdemeanor. 3 cities in Maine, 11 cities in Michigan, and 2 cities in New Mexico, will also be voting on the decriminalization of the possession of small amounts of marijuana.

This voting season is proof that public opinion about marijuana is changing. The passage of the proposed initiatives would be a major victory in the war on marijuana, and would set a hosts of precedents that could lead to legalization nationwide.

Contact us for a Marijuana Merchant Account today!

Banks are Slowly Warming to Legal Marijuana Dealers

Posted on October 24, 2014 by admin

In February 2014, the Obama Administration gave the banking industry the thumbs up it needed to offer financing to pot distributors, as long as they legally conduct business. This decision was welcomed as a step forward for marijuana commerce. However, the financial system felt that it was too much of a risk to do business with companies whose products were still technically illegal under federal law.

According to The Washington Post, “Credit unions and banks are wary of running afoul of money laundering statutes by accepting proceeds from an activity considered illegal under federal laws. That has made it difficult for legal marijuana dispensers who must operate exclusively in cash, placing them at greater risk of being robbed.”

To address this issue, some guidelines were implemented to make the process for the banking system more efficient and safe. There are now new rules concerning the notification of federal regulators when activity appears to be suspicious. There are three categories of marijuana-related reports in place to use in such situations.

The first category, “marijuana limited” is used when dealers are truly following the government’s guidelines and ensuring that sales revenue is not falling into the wrong hands. According to Jennifer Shasky Calvery, the director of the Treasury Department’s Financial Crimes Enforcement Network, the banks have filed 502 such reports since the change was issued.

The second report, the “marijuana priority”, is used to alert regulators when a dealer’s revenue is not coming from legal exchanges. The final category and report is the “marijuana termination” report; this report involves the relationship between the bank and the pot seller coming to a close. According to Calvery, 475 such reports have been filed.

Fortunately, services offered by high risk merchant account providers have made life much easier for these businesses as they struggle with the changes in the financial system that are moving slower than many hoped.

We can get your dispensary approved for merchant processing!

Marijuana Use Positively Affects Brain Injury Patients

Posted on October 24, 2014 by admin

Many are coming to the conclusion that increased survival rates of traumatic brain injury cases are associated with the use of cannabis. During the study, conducted by UCLA Medical Center investigators of 446 patients suffering from traumatic brain injuries, the individuals underwent a urine test to determine whether or not there was the presence of THC in their systems.

After a three year review of these patients, the following information was determined. According to the Medicalxpress, “Of those patients who tested positive for the presence of marijuana, 97.6 percent survived surgery. By contrast, patients who tested negative for the presence of pot prior to surgery possessed only an 88.5 percent survival rate.”

With the current findings on the positive impact the presence of THC can have on brain trauma patients, it is likely that further therapeutic interventions will be established in the future. The likelihood increases when you consider the positive direction the marijuana industry is moving in.

Colorado has paved the way for other states to follow. For example, a poll released on October 17, 2014 by the University of Delaware revealed that a strong majority is in favor of the legalization and regulation of adult use of marijuana. In addition, Alaska and Oregon are waiting for November 4 to see how voters feel about marijuana legalization.

The study concerning cannabis use for traumatic brain injuries will surely be used as a point in favor of further legalization, as those in the industry continue to seek support for the benefits medical marijuana can offer.

In the meantime, there is still a need for the dispensaries involved in the industry. Marijuana dispensary merchant accounts provide the means to fulfill payment processing needs safely and efficiently. Marijuana-merchant-accounts.com can offer such solutions for your medical marijuana store front dispensary.

Does your Dispensary need credit card processing? We can set up your account today. Contact us today!

Alaska Marijuana Ballot Awaiting Voters’ Decision

Posted on October 23, 2014 by admin

The Marijuana Legalization, Ballot Measure 2 is waiting to either be declined or approved by voters on November 4, 2014 in the state of Alaska. This measure would allow individuals age 21 and older to possess up to one ounce of marijuana and up to six plants. In addition to this, the manufacture, sale and possession of marijuana paraphernalia would become legal.

The issue of marijuana is not new for the state of Alaska. In fact, it has a very complicated history on the issue. In 1975, Alaska approved a bill allowing the private possession of up to one ounce of marijuana in public. Not long after, this decision was supported by the throwing out of all penalties associated with possessing up to four ounces of marijuana and up to 24 plants in an individual’s home.

However, in 1990, all of this was undone when the Alaska Marijuana Criminalization Initiative was approved. This piece of legislation made all marijuana possession illegal in the state of Alaska. Possession would lead to a fine of up to $1,000 and was punishable up to 90 days in jail. Years later, in 2003, this was overturned by the Alaska Court of Appeals.

Even with the stage being set for change in a positive direction for the industry, it is still illegal under federal law. Because of this, medical and recreational marijuana dispensaries are still considered high risk and have been pushed away by Visa, MasterCard, Discover and American Express; thus, leaving these dispensaries with little to no options in credit card processing for medical marijuana.

This has led to the option of high risk cannabis merchant services who are willing to work with the industry and the high risks involved. marijuana-merchant-account.com, is a high-risk merchant account provider that offers such services. As the medical marijuana industry continues to push itself further towards acceptance, services such as this will be needed to give firms a chance to achieve success safely and efficiently.

Contact us for Marijuana Credit Card Processing

The New Gold Rush | High Risk Marijuana Merchant Services

Posted on October 23, 2014 by admin

Businesses have been waiting anxiously on the sidelines for years, positioning themselves in order to jump in on the marijuana industry when the time was right. Now, with legalization occurring in certain states, it would appear that the time has come. It would seem that the marijuana industry has entered its own period of a “gold rush”.’

According to Forbes contributor, Marian Salzman, “Now that recreational marijuana is legal in two states, medical marijuana in 18 more and D.C., and many other states (including New York, where law enforcement has long largely looked away) looking at legalizing one or both, businesses of all stripes and sizes are trying to get in on the action”.

With this rush also comes a high-risk, high-reward situation. Up until now, public traded cannabis companies shied away from actual marijuana. However, with the current rush and increasing public acceptance, these companies are rethinking the idea. As a result, this has also lessened the perception of risk.

According to Alan Brochstein, a Chartered Financial Analyst who also runs a cannabis-focused stock website, “Based on my conversations with companies that are public and private, it’s likely that we’re going to see licensing models emerge, whereby proprietary strains, extraction processes or edible brands are put into public company vehicles. We are headed in this direction because investors want it that badly.”

When it comes to making investment decisions, it is crucial to look for businesses that are productive and have strong management. Investors who are brave enough to take on the risk of marijuana stocks should tread carefully.

The marijuana industry may become an institution in the U.S. In fact, it may become just as big as prescription medication and alcohol. If it does, then jumping on the band wagon, investing wisely and taking on the high risk could pay off in the end.

With the current, huge push to emphasis on how to monetize weed, it is safe to say that options are going to be needed for payment processing. In addition, the high risk aspect adds a need for safe and effective options. Marijuana-merchant-account.com offers payment processing solutions, despite the high risk aspect of the industry. Payment processing solutions are available for both retail and delivery dispensaries.

We can have your Credit Card Processing Service approved in as little as 48 hours, contact us today!

Washington’s Retail Marijuana Sales Jump

Posted on October 8, 2014 by admin

Washington’s retail marijuana sales rose drastically in August, with sales more than doubling July’s totals. This is fantastic news for proponents of marijuana legalization, as well as for the city, thanks to the marijuana’s high tax percentages. While not every area offers up legalized medicinal marijuana, it’s popularity is growing fast.

Medicinal marijuana is a popular product, and not only for those who use its healing benefits. Many lawmakers are in favor of its legalization, due to the high tax rates. Think about tobacco taxes: they add a nice chunk to the price, and yet people still purchase their cigarettes. The taxes help go toward local and state projects, and more tax dollars make for a happier government. Now, if it is legalized in your area, you should look to adding it to your merchandise, or even make it a start-up opportunity. There are millions of customers, and despite rumors, it is not a sketchy field to enter into. Many have heard of medical marijuana being labeled as “high risk”. This simply means that these businesses have a higher percentage of incurring fraudulent charges. Fraudulent charges tack on massive fees, which can leave a merchant account processor no choice but to dump their merchant. You need to make sure that you have a medicinal marijuana merchant account processor that will stick by you when the going gets tough.

At www.marijuana-merchant-account.com know that this industry can be tough. However, we are dedicated to helping our medicinal marijuana merchants by keeping rates to the industry standards, and by not dropping you when a fraudulent charge comes along. We also offer our merchants the most up to date security systems, which is an absolute must, since hackings are reported every day.

Ready to invest in medicinal marijuana? Contact us!

Recreational Marijuana Sells Grow Massively

Posted on October 8, 2014 by admin

In Colorado, recreational marijuana sells have skyrocketed. In fact, consumers spent more on recreational marijuana than medicinal marijuana. This lends credibility to its legalization. With its lucrative outcome, it is possible that other states may soon hop on the legalized recreational marijuana bandwagon.

Colorado legalized small amounts of recreational marijuana earlier in 2014, and soon sales were booming. These sales not only helped those wanting the product, but it also helped create jobs in the community, and tax dollars. Of course, legalized marijuana is taxed, and those tax dollars help with everything from infrastructure to roads. While only time will tell if this is a “fad” or I the sales will stay high, for the time being the extra jobs and tax dollars are something that many other states are looking at seriously.

Even if your state is not embracing legalized recreational marijuana, they may be one of the states that offers up legalized medicinal marijuana. If so, you should seriously consider offering it in your business. It is still a lucrative product, and a much wanted product. However, you need to be sure that you have a medicinal marijuana payment processor. Mainstream payment processors tend to drop merchants who offer medicinal marijuana, because they are subject to higher percentages of fraudulent activity.

We know the benefits that medicinal marijuana can offer to customers, as well as the lucrative benefits it can offer to merchants. We pride ourselves at providing our merchants industry-standard processing rates, as well as top of the line security, software, and terminals. We keep your information, as well as your customers’ information secure, which is a major concern these days. Whether you are about to add legalized medicinal marijuana to your inventory, or if you are just curious,

We can set up your medical marijuana payment processing in as little as 48 hours!

Ohio Governor Candidate in Favor of Marijuana Legalization

Posted on October 8, 2014 by admin

Ed FitzGerald, the democratic candidate for Ohio’s governor, is in favor of legalizing marijuana. While some see this as an opportunity to get the younger vote, there is an overwhelming majority of Ohioan voters who are in favor of the legalization. While 23 other states have legalized marijuana, the fact is that FitzGerald is steadily behind in the polls. While he may not win, perhaps the legalization of marijuana may get some attention.

While the legalization of marijuana helps cut down on arrest rates, it also helps the local economy. Denver’s economy is booming, thanks to a recreational marijuana legalization. Other states economies are growing, as well, thanks to the legalization of medical marijuana. It not only gives jobs, but the money coming in helps fund other projects, from roadways to infrastructure, that otherwise would not happen. Therefore, the legalization of marijuana is good for the entire community.

If or when it is legalized in Ohio, it is the perfect way to invest in a business. However, you will need to make sure that you have the services of a reliable medicinal marijuana merchant account provider. This is because many merchant account providers run quickly from legalized marijuana vendors, due to their increased risks of incurring fraudulent charges. You need to make sure that your merchant account provider is experienced with legalized marijuana vendors, and the ups and downs that the industry can bring upon the vendor and merchant account provider. You need www.marijuana-merchant-account.com.

At MMA we know how lucrative the legalized marijuana industry can be. We also know the benefits it can provide for both your customers and your local economy. Our security systems help us keep you and your customers’ information safe, which is very important in the age of massive hackings. We are dedicated to our legalized recreational and medicinal marijuana merchant account holders, and we will help you every step of the way, to ensure that your businesses accounts are kept safe, secure, and running.

For more information, contact us today!

Polls Show that Recreational Marijuana Legalization is Popular

Posted on October 1, 2014 by admin

Polls in Colorado still show that the legalization of recreational marijuana is still popular. The polls show around the same numbers as polls before the legalization occurred earlier in 2014. While polls are often tricky, due to demographics, the fact that the results were pretty much the same is fantastic for the industry. While the sales are booming in Colorado, this could help other states enact their own marijuana legalization.

Until then, there is always the need for more cannabis dispensaries in the states where it is legalized. Business is booming, and it is the perfect time to enter into the business. It seems like a tricky business to enter into, yet you do not need to be a “pothead” to do it. Legitimate business men and women are getting into the game – so why aren’t you?

One of the first things you need to do is to locate a cannabis dispensary merchant account. This can be hard, as very few offer this service. One of the best is simply titled Marijuana Merchant Account, www.marijuana-merchant-account.com. Simple to remember, right? Well, we are at the top of the game when it comes to providing cannabis dispensary credit card terminals. Credit card terminals are a must if you plan to accept credit and debit cards as payment. While you can always just accept only cash, it may deter clientele, who do not want to make a special trip to the ATM before visiting your establishment. So, you need to make sure that your terminals are secure, safe, and up to date. We offer that. We offer the best terminals, security, and software to protect your customers’ information. It has also been mentioned on the news that the Feds are “watching” these businesses. We understand that, and we comply with all state and Federal rules and regulations, as would apply to legalized cannabis dispensaries.

For your cannabis dispensary credit card terminal needs, contact us today.

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Tag Archives: marijuana merchant account

Legalized Marijuana for Recreational Use and Marijuana Payment Processing Account Solutions

The War on Drugs Could End this November for Many Americans

Banks are Slowly Warming to Legal Marijuana Dealers

Marijuana Use Positively Affects Brain Injury Patients

Alaska Marijuana Ballot Awaiting Voters’ Decision

The New Gold Rush | High Risk Marijuana Merchant Services

Washington’s Retail Marijuana Sales Jump

Recreational Marijuana Sells Grow Massively

Ohio Governor Candidate in Favor of Marijuana Legalization

Polls Show that Recreational Marijuana Legalization is Popular

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