Medical marijuana has been a hot topic over the last few years with more states allowing use of medicinal marijuana and Colorado and Washington have even legalized the recreational use of marijuana. Accepting electronic payments has been difficult for these businesses because of the grey area they operate in legally. Marijuana is still illegal on a federal level, so most banks and card associations have put the business type on it’s prohibited list.
In fact, Visa and MasterCard have threatened hefty fines to any ISO, bank or any processing entity that provides medical marijuana dispensaries with traditional merchant accounts.
The only option for MMJ related businesses to accept electronic payments is by accepting cards through the debit networks instead of a traditional merchant account. You can still accept debit and credit cards using our PIN based system.
We have over 100 dispensaries across the country using our payment system and we have plenty of references upon request. Contact us today to learn how we can help your medical marijuana dispensary accept credit and debit cards.