Category Archives: Marijuana Industry

Legalized Marijuana Businesses Pull in Millions in Cash

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Gold_MarijuanaIn our past history people in general had a distrust in banks. They didn’t want other people knowing their business. So they hid cash in their mattresses, buried it in coffee cans and found cubby holes in the attic to save for a rainy day. If you are in marijuana sales and real in hundreds of thousands of dollars in a day or week, where can you stash your cash?

It goes without saying that marijuana merchants run a business that is ripe for robbery. It is flat-out dangerous. Not only do you have criminals chomping at the bits to rob the store, all employees are placed in a high risk area. Illegal drug users have found a money tree they can shake to score their next fix.

Some store owners have become more in turn with their environments. They hire specially trained armored cars and agents to pick up bag after bag of smaller bills. At this time the national armored chains won’t touch the assignment. Some owners hire people to take small amounts hour after hour and deposit it at ATM’s.

From the state’s view, these cash-only businesses are a conundrum. They generate millions of dollars in sales, but the sales are not transparent. Is there anyone skimming from the top? Is the state receiving all the tax money it deserves? At the Federal level there is a chance of money laundering, so the business is constantly being watched.

A business selling marijuana could avoid the danger of being on an all-cash basis with a marijuana merchant account. Finding a card processor that would open an account can be a daunting challenge. But not if your do business with MMA. They have been helping medical marijuana dispensaries with payment processing for almost 10 years. They are seasoned and know all the rule, requirements and ways to make your business thrive legally.

A marijuana-merchant-account.com customer has chosen MMA because there are no processing fees, discount rates, or Interchange fees. There is a low – if no – risk for the merchant. There are no chargebacks or chargeback fees. The merchant operates legally and within Visa, MasterCard and the association guidelines.

If you are a licensed marijuana business and you have run out of places to stash your cash, call the Marijuana Merchant Account for a marijuana merchant account today. Your business can only grow from here.

Contact us today.

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Obama Makes it Easy for Marijuana Users

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medical marijuana payment processingPresident Barak Obama addressed Kansas City –based KMBC in February about how states could legislate their marijuana laws so that they discourage marijuana use, but don’t impose excessive penalties on recreational users. These comments come at a critical time for marijuana legislation in the country, as a growing number of states are decriminalizing or legalizing the drug. While some states have decided to stick with the current war on weed, others are looking at the drug as a source of new revenue for struggling state.

The comments come after Washington voted to decriminalize the use of small portions of marijuana. Obama defended the move despite the objections of some Republicans. He noted that while states should not encourage marijuana use, they should make a distinction between heavy drug users and recreational users.

Support for marijuana legalization is not only found in the Whitehouse and amongst marijuana users, but is being considered by multiple states in the Union. Desperate state governments are now taxing marijuana, and using the revenue to revamp necessary state programs. Legalization and decriminalization efforts have also cut spending on law enforcement, legal costs, and prison sentences.

Last August, Deputy Attorney General James Cole released a memo that basically ignores the Controlled Substances Act if a specific state has legalized marijuana use. Currently, more than 20 states have either legalized or decriminalized the use of recreational or medical marijuana. Some individuals in these states have started profitable businesses selling medical or recreational marijuana, but are having a difficult time expanding their businesses because most banks refuse to work with them.

In support of the Whitehouse’s position on marijuana, new federal guidelines have made it easier for marijuana merchants to operate without penalty if the state allows it. Still traditional banks believe the new guidelines still place a heavy burden on banks if the marijuana merchants they support turn out to be illegitimate. Therefore, most bank officials have decided to refuse steer clear of marijuana merchants for now.

Without access to a recreational or medical marijuana payment processing, merchants cannot process checks or credit cards. This means that products can only be purchased with cash, limiting merchant potential to expand online.

For fast and dependable medical marijuana merchant accounts, contact us today!

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With Great Cash Comes Greater Struggle

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marijuana-money-profits-earnings-medical-marijuana-projectWhen you legalize an industry that has been illegal for too long, the changes to the business landscape of such a change are plenty. This is the case with the marijuana industry, whereby an increasing number of business opportunities are emerging, with people using their imagination to come up with new ways to capitalize on this opportunity.

As per the 2010 Cato Institute paper The Budgetary Implications of Drug Prohibition, the potential size of this industry is in the region of $14 billion – a staggering number for an industry that is expected to grow further and become even more colossal.

As you can see, the prospects of marijuana businesses are certainly on the high. The competition is relatively low, and there are still unexplored areas that creative businesspeople can make the most of. So if you are one of many people who are unable to resist the lucrative charm of this newly legalized industry, there is little reason for you not to go for it. The cash is good, and the there is no lack of ways that this cash can be made.

However, and this is a major however, banking services and other financial institutions haven’t quite embraced this industry as yet. Despite its legalization in several states, the federal government still considers marijuana as an illegal narcotic. The result? Your business is considered high risk, and most financial institutions steer clear of any opportunity to allow you loans or do business with you of any sort.

But, this isn’t your biggest challenge. Your biggest challenge, instead, is getting access to a merchant processing account, without which you are unable to accept credit card payments. It’s almost like a treasure chest right in front of you that you can’t touch. So much cash, and at the same time, so much struggle too. Every business needs a merchant account, but what you also need here is a provider who actually understands you, your business, and its needs. This is what we, at marijuana-merchant-account.com, do best.

At marijuana-merchant-account.com, we are dedicated to getting you the best marijuana payment processing services around, allowing you to immediately start accepting credit cards and making the most of this opportunity. We know the story behind this apparently controversial business of yours and therefore, address all the issues and provide you with just the merchant processing services you are looking for.

All you have to do is reach out to us, and you will be reaping benefits of this emerging and extremely lucrative marijuana industry in no time. At the end of the day, you retain the cash part, while we deal with the struggle. Win-win.

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Why Marijuana Shouldn’t Be A Big Deal

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imgresFew things are as controversial and under the debate as the legalization of marijuana. Quite recently, Republicans have tried to form a case of medical marijuana, claiming that the use of the plant should be allowed to treat epilepsy patients. The problem, surprisingly, emerges from a specific characteristic of the cannabis plant. Yes, you guessed it right – the problem policy-makers apparently have with marijuana is its virtually harmless ability to give you a high. Ludicrous, no?

Now this is a little confusing. What about the likes of Xanax and Ativan? What about other prescription pills? What about alcohol? All these are legal because they serve a purpose that outweighs any negative aspect, right? The question, therefore, to be asked is that when such purposes for marijuana are being found, why the hypocrisy?

No one seems to be worried about the buzz that generates from alcohol and the accidents it continues to cause on a daily basis, or how these prescription drugs help you take the edge off. However, when it comes to marijuana, hypocrisy echoes the arguments that favor its prohibition. It is confusing at best, and the arguments that champions of its prohibition present are starting to seem shaky. An example of this is the legalization of this once illegal narcotic in a few, if not all, states.

Truth is, Republicans are pushing for medical marijuana and there seems to be nothing wrong with that. If patients can escape countless hours of suffering at an expense of a little buzz, how is this possibly a bad deal? Moreover, the benefits are not just limited to curing diseases, but this potential legalization also poses a very viable business opportunity for an unexploited niche. Imagine the benefits to the economy.

While selling medical marijuana can certainly be a lucrative venture, it is not without its problems. The biggest issue is that even if you have the legal certification, you will struggle at the hands of different financial institutions, as they will look at your business as a high-risk one. This would mean that you would be left without a merchant processing account, leaving you unable to operate as you will not be able to accept credit card payments.

At marijuana-merchant-account.com, we come to your aid, understanding your business and providing you with the best medical marijuana payment processing services. We are on your side of this debate, and therefore, don’t turn our back on you. If it is a merchant processing account you need, you are in safe hands with us.

As soon as you sign up with us, you can start accepting credit card payments, set your business in the right gear, and start making the most of this newly emerging business of legalized pot.

For Marijuana Payment Solutions, contact us today!

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Exciting Times to Be a Pot Lover

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jointThe debate as to whether or not marijuana should be classified as an illegal narcotic is no headline. It has been around for quite some time, and the advocates of both the sides have been fairly vocal. However, it wasn’t until quite recently that the debate was taken seriously, with the voices of its champions echoing the halls where our policy-making decisions are made.

What was once a strictly illegal narcotic is now allowed to be consumed, carried, grown, and sold in small amounts. These changes mark the birth of the legal marijuana industry, becoming the ray of light that pot lovers have waited for since eternity. They no longer have to watch over their shoulders every time they wish to get high. However, when it comes to exciting times, it is not just for those looking to finally get a legal taste of marijuana, but also those who might be interested in taking up the supply side. With its legalization, more people are going to want to turn to marijuana, considering they won’t be thinking about prison while doing so. With greater demand for marijuana comes the need for greater supply. This is where you can get a taste of this potentially lucrative industry.

While it does seem like a lucrative option for potential suppliers of legalized marijuana, anyone looking towards getting a piece of the supply side of this newly emerging legal marijuana industry must acquaint oneself with a major fact – your business will be treated as high risk. It doesn’t matter what argument you have to throw in favor of marijuana and its legalization, your business will be considered risk and so, increased challenges will follow. Even if you are selling medical marijuana, which is a term that refers to the use of the drug strictly for medicinal purpose, the classification of your business as high risk would remain, and so would the potential challenges that accompany this classification.

One such challenge you must be prepared to take on is getting a medical merchant processing account. Higher risk brings with itself lower willingness of merchant account processers to do business with you. These risk-averse entities would rather do with lower risk. But, this puts you into a difficult position – how do you accept credit card payments when you don’t have a merchant processing account?

This is where we come in. At marijuana-merchant-account.com, we understand your business, product, and the issues that others may not be aware of. We understand why your business needs and deserves a merchant processing account, and how we can be of help. Thus, with that in mind, we provide you, and other similar business, with top-notch medical marijuana payment processing services, which have the potential to go and become cornerstones in the future success of your business.

With us at marijuana-merchant-account.com, you can immediately start doing business, accepting credit card payments, and laying down the foundation of something great.

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