What We Know About Marijuana Legalization

Posted on January 6, 2017 by admin

legalmarijuananowlogo As Arizona, California, Maine, Massachusetts, and Nevada prepare to vote on marijuana legalization next month, all eyes are on the initial outcomes of those states that have already legalized marijuana. In 2012, Colorado and Washington became the first two U.S. states – and the first two jurisdictions in the world – to approve ending marijuana prohibition and legally regulating marijuana production, distribution and sales. In the 2014 election, Alaska and Oregon followed suit, while Washington D.C. passed a more limited measure that legalized possession and home cultivation of marijuana. However, any type of legalization is great for those who need it – and with more and more studies showing the positive effects of medical marijuana, more and more people can use it and reap the benefits.

Other states, such as Georgia, have a limited CBD oil usage for those with severe seizure ailments. But with more and more states legalizing medical or recreational marijuana in some form or another, and more and more people in favor of some form of legalization, everyone can reap the benefits. Taxes are higher on legalized marijuana than other products, and the tax money is used to renovate infrastructure, schools, and even teach those about the negative effects of illicit drugs and alcohol.

This benefits everyone, but some are still hesitant to embrace the rewards that legalized marijuana and medical marijuana can bring to the States. The Feds, for one, still have marijuana in any form categorized as an illegal drug, so that makes it nearly impossible to have any federal help business-wise. It also makes it nearly impossible to get a loan from a bank to help a growing or budding dispensary out, since the Feds regulate the banks.

But, the worst thing that a merchant can do is to have a “cash only” business. There are options to help you accept plastic card payments: A marijuana merchant account. They do exist, but you still need to make sure that the one that you choose truly understands the business, and isn’t just out for their own benefit.

Nationwide Support Grows for Legalized Marijuana

Posted on December 16, 2016 by admin

Indoor Marijuana Grow Room with Plants in Soil Under Lights With many states offering up legalized recreational or medical pot on their ballots this week, nationwide support is growing for its legality. According to the Pew Research Center, 57 percent of U.S. adults say the use of marijuana should be made legal, while 37 percent say it should be illegal. Ten years ago just 32 percent favored legalization, while 60 percent were opposed.

Traditionally, young adults have been behind the shift of public support, but now support is rising among millennials and baby boomers as well. Another big factor is results. With more and more of us wanting natural remedies to combat our ailments and illnesses, marijuana is leading the charge – and often with the best results.

25 states, plus D.C. and Puerto Rico offer legalized medical marijuana, and between recreational marijuana and medical marijuana it is on the ballot this week in 9 other states. But, what happens if it does pass? What will change? Well, for one many more Americans can buy their much-needed and much-wanted medical marijuana.

And for merchant, the opportunity to open a dispensary arises. But here in lies the issues. It can not only be hard to get your dispensary opened, but also to get it funded and toy accept anything other than cash payments. Since this industry is still in the “high risk” category, it can be hard to find a cooperative marijuana merchant account provider – but it isn’t totally impossible. You just need to know what to look for.

You need to look for a processor that understands the industry. You need to know that they understand that it is a tough industry, and that the Fed’s still hate it and make it tougher every day for merchants to become successful. You need to know that they are looking out for your best interests – and not just their own financial needs.

Once you find this merchant account provider, you still need to make sure that they truly understand the issues in the business, and that they keep up on all changes that come along.

Summary: More and more Americans are wanting legalized pot. In this article, you will learn how this can benefit merchants across the States.

New Jersey Could Soon Have Legalized Pot

Posted on December 16, 2016 by admin

Training-Dispensary-Staff-Tips Of all the states that have legalized pot of some form on the ballot, New Jersey puzzles some. The vastly Democratic state with a Republic governor may soon has legalized pot. While this state could use the extra tax benefits that legalized pot brings – is the state ready?

One thing that makes New Jersey’s law unique is that you could purchase the pot in cigarette form. Earlier last week, State Assemblyman Michael Patrick Carroll introduced a piece of legislation (A4193) aimed at legalizing a recreational cannabis market that would operate under the same restrictions the state already has in place for people who buy cigarettes. The lawmaker’s goal is make legal weed available in supermarkets and convenience stores, giving cannabis users the same access to the herb as smokers have for their daily vice.

The proposed law really digs into true foundation of what it means to repeal prohibition by not only legalizing the leaf for adults 19-years-old and older, which is the legal age to buy cigarettes in New Jersey, but it would also serve as a reform to the state’s criminal justice system by expunging the records of those people with previous marijuana offenses.

And the latter is great – we can all agree on that. But should it be a separate bill? That is what some are arguing, and it makes a good point. They are two different issues, and may have two different sets of people clamoring their support. While those who are not fans of legalized pot may not be on the sidelines for it, many are in favor of quashing old marijuana charges for those who served their time or probation, and have went on to lead productive lives.

But, will this pass? Perhaps. The state, even though it has a Republican governor, is liberal, and it is surrounded by other liberal states that may soon follow suit. It only takes one state to be successful with one thing for other states to follow along, and New Jersey have pave the way for others to push for legalized marijuana cigarettes and the quashing of old pot charges.

MMA Provides Credit Card Processing for Cannabis Medical Merchants

Posted on August 12, 2016 by admin

Marijuana merchant (MMA) recently announced that it now offers credit card processing solutions for medical cannabis merchants. In the past, only retail dispensaries were able to utilize MMA’s PIN based programs, due to industry regulations. Now, MMA can offer wireless payment processing services through its PIN system for delivery or mobile dispensaries; this new solution allows mobile dispensaries to accept payments on the go.

Securing credit card processing for cannabis medical merchants is a very big struggle. Traditional sources quickly shy away from the MMJ industry and refuse to offer their services. Even if they would like to welcome their business, current regulations make it difficult, if not impossible. This forces merchants to resort to a cash-only business, while other industries considered “high risk” enjoy credit card processing.

With MMA, on the other hand, cannabis medical merchants can have their funds from transactions deposited into their accounts every 24-48 hours – regardless of their “high risk” business type. Thus, allowing merchants to avoid keeping excessive cash on hand and cancel out the temptation for thieves. MMA’s simple, streamlined application process, low rates and quality customer service has made it one of the fastest growing payment processing websites on the Internet.

According to MMA, “We provide safe and secure credit and debit card payment processing using our PIN based program designed specifically for the MMJ industry. Dispensaries have faced many challenges when trying to start accepting electronic payments at their locations.”

“Our merchant advisers can answer all your questions and recommend solutions that will help your business reach its financial goals.”

Located in Los Angeles, CA, Marijuana Merchant Account’s (MMA) expert team have been and continue to be strong advocates of the medical marijuana industry. Their solutions – specifically tailored to meet the unique needs of the MMJ industry – have made it both easier and safer for patients to access their medicine. MMA is dedicated to providing the very best in electronic payment processing to the medical marijuana industry.

Colorado’s Pot Industry Moving to Change the Face of the Industry

Posted on December 19, 2014 by admin

As the first anniversary of the legalization of recreational marijuana in Colorado approaches, those involved are making it a priority to change the face of the industry. The push is for the “stoner culture” stereotype to be removed and for the industry to gain a new meaning. The dream is for the industry to be recognized as a true business with true business people that are hard at working operating these companies.

For example, former commercial banker, Brooke Gehring, now operates two different businesses: Patient’s Choice of Colorado and Live Green Cannabis. $3 million later, she converted a furniture warehouse into a grow house. With 5,000 plants, Gehring expects to reach $10 million in sales this year.

It may come as a surprise, but Gehring’s grow house is situated across the street from a police station. She says that it serves as a security measure. At the same time, you can’t help but notice the symbolism of the industry wanting a chance to be viewed as an honest and upfront business.

With the exciting movement for the industry going from the “new kid” to “experienced businessman” comes some legitimate concerns. In order for the industry to continue on this respectable, honourable path and to thrive, regulations must be set and followed religiously. The thought that the federal government could come in and shut things down at any time has motivated those on Colorado’s state advisory panel to carefully write regulations.

The biggest concern of all is that people who do not manage their business will overproduce, have nowhere to sell it and turn to the outside, unregulated market for buyers. According to a report by NPR, it was confirmed that the Mexican cartels are buying Colorado pot and bringing it into Mexico.

For now, Colorado is moving to put regulations in place that will help the industry grow in a healthy way. The biggest issues at present are the competition with the black market and the need for the federal government to jump on board with legalization.

Can you relate to the industry’s need to grow and be recognized? With high risk still being an issue for the industry, marijuana merchant accounts are still the best option for those looking to enter the business. Let a marijuana merchant account provide you with a safe and efficient means to operating your business.

To set up Marijuana Processing Solutions contact us today!

Politicians are Finally Discussing Marijuana in the Open

Posted on October 8, 2014 by admin

Much to the delight of constituents, many politicians are now discussing the legalization of medical marijuana in public. Now, this way be because elections are coming up in a few weeks, but regardless, it gets the issue out there. Many are hoping that nation-wide legalization is coming, and there are a few things you need to know before taking the jump into selling medical marijuana.

While states and consumers may welcome the legalization of medical marijuana, any banks and merchant account providers do not. This is because it can considered to be “high risk”, meaning that it is at a higher risk of incurring fraudulent charges and activity. It is not just medical marijuana merchants that are labeled as this; in fact, many mainstream companies such as dating websites, car dealerships, and credit repair companies also are labeled as “high risk”. While it may seem like a big task to locate a merchant account provider who deals with high risk companies, it is not. However, you must be careful and vet companies. You should ask questions, ask their rates, and ask them the last time their terminal security was updated. You need the very best for your medical marijuana company.

Marijuana-Merchant-Account deals not only with legalized recreational marijuana, but also with medical marijuana merchant accounts. We have years of business, and thousands of satisfied merchants to vouch for our services. While others may trump you fees due to the “fad” hype over your business, we do not. We charge industry-standard rates for medical marijuana merchants, which is hard to come by in the United States. We also offer up to date security systems for our credit card processing terminals, which is a must in today’s society filled with hackers. It not only helps protect your customers’ information, but also your reputation.

For more information, contact us today!

Marijuana Merchant Accounts in Limbo as Health Canada Struggles to Process Applications

Posted on June 11, 2014 by admin

Health Canada is in a bind. The department responsible for overseeing the processing of medical marijuana applications has received 858 of them as of May 2014, and new applications are coming in at a rate of 25 per week. This is in stark contrast from September of last year, when Health Canada only had 156 applications to sort through. However, the number tripled by the following February, then doubled in 3 months. So far only 13 licensed suppliers have been approved and listed on the department’s website as an authorized marijuana dealer for patients seeking cannabis for pain and other symptoms, per their doctor’s recommendation.

On April 1^st, Health Canada radically changed the rules of the medical marijuana industry as they shifted the marijuana industry from a group of thousands of individual growers, loosely regulated, to a commercially competitive sector. So far prices have been set by the free market and Health Canada has imposed no limits on the number of sanctioned indoor cannabis farms one grower can have.

As a result, what began as only a few applications per month has turned into a flood of marijuana merchants eager to capitalize on the booming market. According to a spokeswoman for Health Canada, of the 858 applications, 370 were returned as incomplete, 149 were denied, 30 were rescinded, and approximately 300 are under review.

The backlog of applications is starting to frustrate prospective medical marijuana owners like Uma Syed, president of Toronto-based CannMart Inc. “They’re really an unfortunate bureaucracy under siege,” he says. “They’re dealing with a situation they weren’t prepared for….there’s something really out of whack. We’re all dressed up and nowhere to go.”

Despite applicant frustrations, a second Health Canada spokesperson said that the agency refuses to fast track the review process, which includes a rigorous file review, review of personnel security, site inspections, records-keeping, equipment, and quality control specifications. Health Canada has also been slowed down by several lawsuits that challenge the new process.

Meanwhile aspiring medical marijuana business owners find themselves stuck between an overwhelmed regulatory agency, and the likelihood of a once in a lifetime business venture that will produce a lot of green.

At http://marijuana-merchant-account.com/ we are your number one online source for marijuana merchant accounts.

We offer a suite of marijuana payment processing options that allows your marijuana merchant account to accept a variety of payments including checks and credit cards. Don’t wait to expand your customer’s payment options.

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Pharmacies Await Legalization while Pot Firms Gain

Posted on May 20, 2014 by admin

Any ideas or dreams of profit and competition for CVS Caremark Corp., Walgreen Co., and Rite Aid Corp. will not be coming true anytime soon. Even though 21 states have legalized pot for medical use, the drug is still currently illegal under federal law. Because of this, banks are hesitant to accept any money from the sale of marijuana; thus, leaving the market to local entrepreneurs.

As long as marijuana is classified as a Schedule 1 drug, pharmacies will not be able to sell medical marijuana legally. According to an article by Bloomberg’s Shannon Pettypiece and Sonali Basak, “The drug is classified as a Schedule I controlled substance, defined as having a high potential for abuse with no accepted medical use.” The article goes on to say that “Schedule 1 drugs, which includes heroin, can’t by law be prescribed or dispensed.”

In order for pharmacies to be able to dispense controlled substances, it must be registered with the U.S. Drug Enforcement Agency. All three major pharmacies, Walgreen, CVS, and Rite Aid have announced separately that they have no intentions of selling medical marijuana, which would jeopardize their company’s registration with the DEA.

According to Bloomberg Industries analyst Brad Barker, “That may change if the U.S. Congress sees taxes on the drug as a way to raise money.” If more products were made that were approved by federal regulators, more pharmacies might be able to sell medical marijuana. For example, Marinol is an approved prescription pill made with synthetic cannabinoid for the purpose of treating nausea caused by chemotherapy.

As far as investing, three states do allow medical marijuana companies to make a profit from the sale of pot. Shareholders have already begun investing in publically traded marijuana companies. Others, such as large industries and the larger pharmaceutical companies are looking into it in order to be prepared for when legalization occurs.

According to Bloomberg, “Until legalization or more products are marketed by pharmaceutical companies, it will be an industry dominated by small dispensaries set up to serve about 1.4 million medical marijuana cardholders using the drug to treat their symptoms.”

For now, traditional pharmacies are forced to watch from the sidelines while entrepreneurs make considerable gains. Entrepreneur Khalatbari, in an interview with Bloomberg, says that “We’re making money, we’re employing people, we’re being a beacon of light for this industry and showing it can be done professionally. That to me is a success.” Khalatbari expects to make $2 million in sales this year.

Obama Administration Ok’s Bank and Marijuana Merchant Account Transactions

Posted on April 25, 2014 by admin

In February, the Obama administration gave banks approval to do business with legal marijuana dispensers. For the first time ever, these dispensers are eligible to secure loans and set up checking and savings accounts with traditional banking institutions.

20 states and the District of Columbia have legalized the sale of marijuana. Colorado and Washington were allowed to legalize marijuana, as long as the states kept a close eye on businesses. In August, the administration set forth eight guidelines for legal dealers to follow to avoid federal prosecution. As a result, the Treasury Department has issued new rules making it easier for banks to do business with marijuana dispensers, while the Justice Department decided not to prosecute banks that do business with legal marijuana dispensaries.

Yet banks are leery of engaging in business with legal dealers, because the sell and distribution of marijuana is still forbidden by federal law.

Frank Keating, president and chief executive of the American Bankers Association voiced financial institution concerns. “This guidance doesn’t alter the underlying challenge for banks. Possession or distribution of marijuana violates federal law, and banks that provide support for those activities face the risk of prosecution and assorted sanctions.”

Currently financial institutions must notify the federal government if they suspect any illegal activity by marijuana merchant accounts. The Treasury department requires banks to submit a “marijuana limited” report that says that dealers are following the administration’s guidelines, and are keeping revenues out of the hands of illegal dealers. If the bank suspects that a marijuana merchant account is engaging in illegal activity, they must file a “marijuana priority” report to notify regulators.

This is exciting news for marijuana dispensers like Steve Horwitz, whose account was closed once Wells Fargo discovered it sold marijuana laced goods. “We’re good customers. We pay extra money for cash deposits, and we move a lot of money. It’s in their interest to keep us.”

Legal marijuana entrepreneurs are not the only ones who would benefit from the integration of marijuana merchant accounts into the banking industry. Financial organizations could win big with legal marijuana business. The industry is expected to gross $2.57 billion this year, according to ArcView Market Research.

marijuana-merchant-account.com has easy payment processing solutions for retail and delivery dispensaries. Our services let your patients donate at the point of sale using a credit or debit card and a PIN number.

The transaction will only cost patients a small convenience fee ranging from $0.99 – $2.00. We offer debit card, credit card, and savings account services. Our retailers choose us for their marijuana merchant accounts because there are no discount rates, interchange fees, or processing fees.

Our MMJ delivery services also offer electronic payments on the go. Contact us at: 1-800-466-1809 to set up your marijuana merchant account today.

Colorado’s Recreational Marijuana Sales Bigger Than They Seem

Posted on April 15, 2014 by admin

According to recent tax data released by Colorado, recreational marijuana sales increased by five percent in February. Sales reached $15.1 million. While this figure is good it is lower than expected. Though February was a shorter month than January which skews the actual perception of how much sales have grown.

Sales were approximately $539,285 each day in the month of February. This, when compared with $464,516 in January, shows that there was actually an increase of around 15%. This would have created a total of $17 million in February vs. $14.4 million in January, if February wasn’t a shorter month. Making sales a few million higher.

As recreational sales rise steadily and are expected to continue to climb as the year progresses, medical marijuana hasn’t suffered as some previously feared. Sales for medical marijuana rose 12% in February reaching $35.2 million. These figures prove that the recreational market is not impacting the medical market revenues. With medical and recreational markets both growing steadily and not adversely affecting each other the industry stands to increase as the year goes on.

The state collects taxes and fees on both recreational and medical marijuana. In February the state collected $3.2 million in taxes and fees related to the marijuana industry. A percentage of that, $438,253 is connected to a 2.9% sales tax on recreational marijuana and $1.43 million is connected to a 10% sales tax on any retail cannabis transactions including ancillary products related to marijuana.

Also as the dispensaries see increases in their sales it will be important to streamline a marijuana payment processing method to better capture sales and assist customers. Currently cash is the only form of payment accepted in dispensaries though that may change soon with the advent of new applications and technology.

Despite the good figures state lawmakers are holding off on making plans for the funds. As the forecast of the tax revenues could be different than what the various offices initially predicted. Therefore until more information can create a more accurate forecast the finalizing of spending plans for the tax revenues are on hold. Especially as the revenue estimates, created by the governor’s office, that were presented to voters who approved the marijuana tax plan in Colorado haven’t yet been consistent with the official tax report.

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