Tag Archives: Dispensary Check Processing

2016’s Trends in the Marijuana Industry

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unnamedWith more states heading into the legalized marijuana realm, trends are likely to change. Even if more states were not legalizing this valuable herb, trends would change for those in this ever-changing world. New consumers and new locales mean that different things will be in demand – as well as different types of technology. Below are a few prospective trends to watch for in 2016.

First off, new clients mean introducing a new variety of people to the legalized drug. While some would use marijuana, legal or not, others are interested in the new legal remedy for many ailments. From migraines to seizures to cancer, marijuana has medical benefits that many are willing to embrace. Marketing to both groups can help you gain customers, as well as not alienate those familiar with the industry. In addition, prices are likely to drop thanks to a supply overage. Yes, a massive supply of marijuana that is not being bought and used. That is our reality in 2016, and these lower prices can help attract customers – and keep them satisfied.

Edible goods are also projected to boom in 2016. While edible brownies and lollipops have been around for a few years, many in the culinary field are becoming creative with their marijuana-laced wears. From sauces and marinades, to cake frosting, and even gum flavorings, marijuana is everywhere, and it is becoming a hot item to market. However, you must be careful to keep these items away from the reach of children – and educate your customers to do the same.

Perhaps not a trend, but a very important business move, is the ability to process checks. A dispensary check processing account is in much demand, thanks to the small percentage of customers who pay with cash. Check writing is becoming a lost art for some, but for those who do it, the ability to accept their payment can keep them happy, and give you a new customer. This technology can be hard to find, but the search is well worth it, because it gives you a new avenue to customers.

Contact MMA for Dispensary Check Processing today!

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Ohio Says No to Recreational Marijuana

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STANLEY BROTHERS GROW FARMStates that are fighting to legalize marijuana next year should be paying close attention to what is happening in Ohio. Ohio’s ballet measure, Issue 3, was defeated by a crushing 64 percent by voters. The ballet would have allowed only 10 marijuana growing sites in Ohio. The sites were owned by some of the wealthiest individuals in Ohio like reality TV star Nick Lachey. This fact may have been a leading reason why legalization was denied by voters.

Issue 3 would have made recreational pot legal for Ohio residents 21 and older, and medical marijuana legal for residents suffering from certain illnesses. It would also let home growers cultivate up to 4 flowering plants at once, but growers would have to pay a $50 fee.

Some state leaders are implying that the defeat of Issue 3 has less to do with moral outrage about marijuana legalization, and more to do with fears of monopoly by the rich and powerful. The measure’s opponents obliterated the proposal by calling it a “monopoly.”

Keith Humphreys, a member of California’s Blue Ribbon Commission on Marijuana Policy, noted that the Ohio initiative was pushed by wealthy investors with no previous connection to marijuana activism in order to benefit from a lucrative oligopoly on marijuana cultivation. The loss comes as a major blow to recreational and medical users, and to investors. Many investors in the proposed grow facilities put up to $2 million per site to fund the pro-legalization campaign.

Some state representatives are satisfied with the amendment’s failure. State Representative Mike Curtin (D-Marble Cliff) believes the initiative was the result of a collusion between politicians and deep-pocketed investors to make amendments to the state constitution that will mostly benefit investors. Curtin claims that what happened in Ohio is now happening across the country, and state legislators should ensure that the interests of businessmen do not supersede the interests of the general public.

Marijuana Merchant Account (MMA) offers a variety of marijuana payment solutions like debit cards, credit cards, dispensary check processing, and more. If your state provides legal recreational or medical marijuana growth and distribution, you’ll need a payment processor with experience and resources to increase your profits. Don’t wait on big banks to support your merchant account.

Contact us to start Dispensary Check Processing today!

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Tax Free Pot Holiday Brings Many to Denver

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Training-Dispensary-Staff-TipsMany areas host “tax free” weekends or holidays for various goods: clothing, electronic, back to school goods. Back in September, Denver got creative and held a tax free marijuana sales day. Thanks to Colorado’s Taxpayer’s Bill of Rights (TABOR), the state had already hit their tax cap on the marijuana dealers. So, for one day the 10% tax was dropped. Sales went up, and unlike the fears of the opposition, nothing bad happened.

Even though Denver has shown much success with their legalized recreational marijuana, many still oppose it. It is successful enough that in mid-September it has already passed the tax dollar threshold for the state. Yet, some still view it dangerous and perhaps a way to spark crime in the area. Unlike the good ol’ street dealer, marijuana dispensaries are highly regulated by the city and state, and this regulation makes it tough for a dispensary to partake in any wrongdoing. It also makes it hard for a dispensary to get off the ground, at all. While a merchant may open a dispensary after a bevy of red tape, there is another important task that lies at hand: dispensary check processing.

Finding a good check processor is tough for every business, but it is even tougher for a legalized recreational marijuana or medical marijuana dispensary. These dispensaries are in the processing industry’s “high risk” category, meaning that they are at a higher risk of having fraudulent charges, and a higher risk of closing up shop. The recreational marijuana industry in Denver is showing that these businesses are profitable, and here to stay, but the processing industry for the most part isn’t buying.

Because of this, it takes effort to find the right dispensary check processor. A good rule of thumb is to ask others who have been in the industry for a while. Not everyone will use the same processor, but you can get ahold of the names and start your research. Many start with Google, but top Google search option are paying to show up in the first page, and may not be the best option overall. Be smart with your searches and research, because a check processor is one of the most important things you will obtain for your dispensary.

Contact us for Marijuana Dispensary Check Processing Options today!

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The Benefits of Check Processing for MMJ Delivery Service Companies

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With the growing acceptance and popularity of medical marijuana, there is a legitimate need for merchant account services and credit card processing. This need is even greater for marijuana delivery startups. The manner in which this type of business operates calls for a form of safe payment processing.

Medical marijuana dispensaries are often placed in the following situation. They dispense their marijuana or cannabis legally prescribed by a certified doctor to patients. The majority of these patients want to pay via debit or credit card, but the company is only able to accept cash. The company has run into the problem of being able to have more payment processing options.

Banks are unwilling to offer their services to medical marijuana companies because marijuana is still listed as a Schedule I substance and is therefore illegal on the federal level. With the medical marijuana industry on the rise, dispensary owners are still in need of a large-scale option to satisfy their processing needs. This is especially true for businesses in the medical marijuana delivery service.

Eaze, for example, is a new medical marijuana delivery service app. Once a user has proven that they have a medical marijuana recommendation, the user can have his or her medical marijuana card approved and place an order. Eaze then contacts a dispensary and an independent driver is dispatched to deliver the marijuana. The deliver is made within 15 minutes or less. Since the transaction is taking place via an app, the ability to process different payment types is crucial to the success of this delivery service.

Medical marijuana businesses are increasingly looking to high risk merchant account providers for their processing needs. Through a high risk provider, it is possible to secure services like ACH check processing. iCheck, for example, is ideal for many sales environments. All check types can be accepted at the Point of Sale or when the consumer is not physically present.

Some of iCheck features include an iPhone app which allows the user to take a photo of a check from any location from an iPhone or iPad. In addition, the creation of “Pay Now” buttons is made quick and easy. These buttons can be added to any spot on a business’ website. iCheck also allows for email invoicing and billpay. Invoices can be paid by email and digitally signed, and funds can be sent directly from your bank account to any recipient in the U.S.

Even with regulation issues, the medical marijuana industry continues to grow. Check processing solutions is just one of the ways payment processing is evolving with the industry. The best solution so far for medical marijuana businesses is to work with a high-risk merchant processor like MMA. A much better option, especially for businesses that offer delivery services where cash is not always an option.

For check processing solutions contact us today!

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