Marijuana Legalization Brings a New Need for Further Research and Caution

Posted on December 19, 2014 by admin

The success of marijuana initiatives has revealed that the nation’s feelings towards the idea has softened. Even though only four out of the fifty states have legalized recreational use, voters have displayed that their opinions on marijuana no longer fall along partisan lines.

Sixteen years ago, California led the way by making medical marijuana easier to obtain than a prescription drug. Dozens of states have now legalized the use of medical marijuana, while Colorado, Washington, Oregon and Alaska have legalized recreational use.

It would seem that the push for marijuana will go marching on, despite the fact that it is illegal on the federal level. In fact, it is considered as dangerous of a drug as heroin. Surveys have revealed that half of American believe it should be legalized while 75% think that it will happen in the future.

However, no one seems to be stopping to consider the dangerous of legalization. Because marijuana is technically illegal on the federal level, no scientific tests have been done to determine whether or not it is safe for it to become legal on the state level.

According to an article by Sandy Banks of the Los Angeles Times, “Researchers comparing the brains of ‘chronic’ marijuana users (who smoke at least four times a week) with those of people who never light up found pot smokers had less gray matter in a region of the brain that influences decision making, and they had significantly lower IQs than their nonsmoking counterparts.”

With more than a million people in the United States legally using marijuana, it is time to consider regulations on cannabis. In addition to not knowing what the exact long term effects are on the user, young people are ending up in emergency rooms from accidental consumption of what they thought was candy.

Considering the business implications, there is still a high risk to running a business in this industry. In order to safely process payments and operate efficiently, marijuana merchant accounts are still the go-to option. With the questions that still surround the industry, marijuana merchant accounts are just the tool you need to operate successfully.

For a Marijuana Merchant Account contact us today!

Dispensaries are teaming up with Hospitals and Universities

Posted on June 26, 2014 by admin

Medical marijuana dispensaries are gearing up to team with hospitals and universities, in areas where medical marijuana is legal. This is fantastic for patients who would rather rely on the natural benefits of medical marijuana rather than pills. While this is not yet set in stone, it represents a great opportunity for those who are interested in being medical marijuana merchants.

Medical marijuana dispensaries are not only helpful to the community, but they can also be lucrative. There is a high need for these businesses, yet many are hesitant to invest in these businesses due to many factors, from ever-changing regulations to difficulty finding an account processor. While there is very little that the public can do about the fast changing regulations, there are options available to those who are having a hard time locating a willing bank to provide a merchant account for their medical marijuana business. One of these options is marijuana-merchant-account.com.

Marijuana-merchant-account.com, or MMJ, is one of the top marijuana merchant account providers in the United States. We have over 10 years of account and processing experience within the medical marijuana industry, and we know the hassles that can come with the fast-changing regulations. We will keep you abreast of new and changing regulations, so you can help your business, and customers, stay on the right track. We offer top of the line security, software, and terminals to help keep your company safe and secure. In additional to traditional terminals, we also offer wireless, more streamlined terminals, which is great if you have a small workspace. Regardless of the size of your business (or prospective business), MMJ is here to help you.

Medical marijuana dispensaries are gearing up for partnerships with hospitals and universities. While these agreements are not set in stone, they are promising to medical marijuana users and merchants. This is the perfect time to consider operating a medical marijuana business, and your first step should be locating an experienced and reliable medical marijuana merchant account provider. You should look no further than MMJ.

For more information, click below and get started today!

Cannabis Cooperative Gives New Hope to the Industry

Posted on June 6, 2014 by admin

The creation of cannabis co-operatives by state lawmakers may never have a chance to get off of the ground. The state of Colorado recently approved a plan that is meant to help marijuana stores deal with the enormous cash sums they experience. In September 2011, the last bank in the state of Colorado closed its doors to working with medical marijuana businesses. This action forced businesses to operate in cash-only, which obviously leaves the owner in a very risky situation with no place to deposit their money.

According to an article on May 12^th by the National Cannabis Industry Association, “State lawmakers late Wednesday night approved a law giving marijuana-store owners the right to create cannabis co-operatives, which would operate like banks or credit unions. Gov. John Hickenlooper previously indicated he would sign a slightly different bill but has repeatedly called on federal lawmakers to change laws on the national level.”

The bill is being co-sponsored by Democrat Sen. Pat Steadman and Republican Rep. Tom Massey. Senate Bill 75, if passed, would allow medical marijuana businesses to create cooperatives that would be regulated similar to credit unions while also being insured by “non-federally backed” insurance policies. Brian Vicente, of marijuana advocacy group Sensible Colorado, informed The Huffington Post that “Colorado’s tightly regulated medical marijuana businesses need banking that allows them to operate like other state licensed businesses.”

Under the proposed bill, cannabis co-ops would be able to provide banking services like issuing checks and electronically transferring funds. However, this can only happen if permission is given at the Federal level. “Most everyone agrees that banking needs to be fixed at the federal level. However, Congress appears to be unwilling to act, and Coloradans don’t have time to wait,” said Mike Elliott of the pot lobby’s Marijuana Industry Group in a statement to Coloradoan. “(This law) is likely not a solution to the banking problem but an opportunity to move the conversation forward.”

Marijuana store owners are in support of the Colorado co-op bill, saying they are tired of playing games with the banks. Having accounts closed by banks and having to open accounts using benign names is not only stressful, but it also leaves the owners at risk to crimes since the public is well aware of the industry being forced to operate in cash-only.

Elan Nelson, spokeswoman for Denver-based marijuana store Medicine Man, revealed her opinion to the Coloradoan. “While the cannabis co-op law likely won’t directly lead to changes, it’s a place to start”. She also stated that “It will probably go nowhere, but we have to start having the conversation at the federal level.” For now, business owners will have to find safe payment processing options and merchant accounts that are safe for the high risk involved in the marijuana industry. marijuana-merchant-account.com, for example, provides merchant processing services to marijuana dispensaries.

To start your Marijuana Payment Processing, click on the button below

420 Day in Colorado!

Posted on April 30, 2014 by admin

Well it looks as though Colorado passed yet another vitally important cannabis test last weekend, and yes it just happened to be on target with Colorado’s new recreational marijuana industry.

With Colorado being the first state to legalize recreational marijuana it appears that their annual holiday held on 4/20 went well. Although there were long lines for the Cannabis Cup (which led to a few grumbles) did not led to any real bad behavior among the recreational cannabis consumers that were gathered for the rally in downtown and at other events that were held to celebrate the holiday.

The weekend of 4/20 was everything that the cannabis business had waited for and the cannabis consumers were very relaxed.

The holiday event of course turned out to be very profitable and the Cannabis commerce flowed free. Many recreational marijuana businesses had record sales; which means there was a surge in tax revenue for the state of Colorado.

This was great Public Relations for Colorado’s recreational cannabis industry since cannabis received bad PR in the beginning stages when there were several incidents involving edibles.

There are some individuals who are still against having tens of thousands of stoners gathering at one time, and smoking marijuana freely in public places although authorities did have to issue several thousand citations at the holiday event for public consumption, and some individuals were even taken to detox. Many say this is no different than alcohol-related events. There have always been those who don’t know their limit.

The message the folks of Colorado wants the rest of the world to see is: legalizing marijuana will not create a world of chaos, this is not any different than allowing individuals to drink in a bar/restaurant, or any alcohol-related event and that recreational cannabis users will not gather in large groups to consume marijuana.

Organizers of the rally downtown had a more professional event which brought a more professional side to the event. There were long lines for the vendor booths that sold Leafly and the manufacture CannaEnergy and some of the businesses handed out samples of their products. The atmosphere was very laid back.

Since the recreational cannabis industry is under the microscope due to the side effect of consuming marijuana through candy, cookies, and other means it has caused a black mark on the marijuana businesses as well as the legalization.

Horrible incidents that involve edibles need to be looked at as isolated incidents and they are not directly related to proper cannabis use. There may be possible misuse of the product (this is no different than taking too much of a prescription drug or alcohol poisoning). So the same measures you would take with medicine and alcohol you should also apply with the use of recreational cannabis.

Colorado and other states will need to address some of the issues that are tied to the edibles, and the responsible use of the cannabis users.

But 4/20 in Colorado will not only be marked as a holiday in Colorado. It will also go down on the history books as the first State to allow individuals to openly smoke, purchase, eat, and drink Cannabis in public.

Marijuana Sales Set to Grow Five Fold in Five Years

Posted on April 15, 2014 by admin

The marijuana business factbook has released data that alleges that the marijuana industry is set to boom. It published figures that purport an increase of five-fold in a five year time frame. This growth quantified will be an increase from an estimated $2.2-$2.6 billion in the current year to $7.4-8.2 billion by 2018. These figures include both medical and recreational marijuana sales. They also account for the addition of an estimated four to five more states passing legislation for medical and/or recreational cannabis usage.

While figures for this year are exactly in line with predictions the lift that is predicted in sales by 2018 is due to the passing of the Cole Memorandum in August. The memorandum by the Federal Department of Justice simply claims a hands off approach to the marijuana industry, though local and state regulations must be adhered to and oversight must be strict.

After this statement from the Federal Department of Justice estimates have increased though it has been noted that they are still quite conservative. The estimates do not account for wholesale cannabis sales nor the multiple ancillary ‘cannabusiness’ and their revenues such as equipment, real estate, etc. It also doesn’t account for the future of marijuana payment processing which is set to expand largely as currently cash is the only method of payment accepted in dispensaries. All of these factors could potentially account for billions more in revenue. Additionally with the predicted addition of four or five more recreational states and two or three medical cannabis states sales will skyrocket.

Currently recreational marijuana sales are legal in merely two states. Though with the predicted additions of four to five more states, 2018 is likely to be the first year that recreational marijuana sales match or even exceed medical marijuana sales in the United States.

None of the figures or estimates include the black market sales of marijuana. It is estimated that the black market has sales figures that are close to $40 billion. This illustrates far reaching potential for the industry beyond 2018. Another note on the future potential of the medical or recreational marijuana industry is that many consumers who currently use the black market have indicated that they would willingly change to a legal dispensary or marijuana supplier when it becomes available in their area.

Oregon Senate Judiciary Committee Hears Arguments for Local Marijuana Regulation

Posted on March 19, 2014 by admin

Legal battles continue in the state of Oregon over control over medical marijuana regulation. The Oregon state Senate Judiciary Committee held a public hearing in February about a proposal for medical marijuana regulation. The proposal sought to give local authorities the ability to regulate the new marijuana industry.

Senate Judiciary Committee Proposal

The Association of Oregon Counties and League of Oregon Cities supported the proposal. The changes would include the limitation of products that may be attractive to kids as well as forbidding a dispensary being within 1,000 feet of a school. The proposal intends to give local governments the ability to regulate the marijuana industry. Oregon’s current legislation has little regulation for the industry.

Other supporters of the proposal include the Associations of Chiefs of Police, the Oregon Farm Bureau, Associated Oregon Industries, Oregon Forests Industries Council, the Oregon District Attorneys Association, and the Oregon Association of Realtor.

Oregon began registering medical marijuana facilities March 1st, 2013.

Local vs. State Regulation

The underlying struggle for regulation is between local government entities and the state government. Local organizations hesitate to trust the brand new marijuana industry to regulate itself. The new industry features little standards for appropriate business practices. The lack of regulation from the state level creates unease for those who didn’t support marijuana legalization. Misgivings are still high about this new industry.

Proponents for state regulation argue that local governments shouldn’t restrict patients from accessing their medication. State-wide regulation would mean Oregon residents would have uniform access to medical marijuana regardless of where they live.

Impact on Dispensaries

The regulation of marijuana laws can have a profound impact on marijuana dispensary businesses. If a business is registering as a marijuana dispensary local regulation could break the business. A business could have to navigate a city’s regulation, the county’s regulation, state guidelines, and federal guidelines.

The layered system of regulation could cost a marijuana dispensary time, resources, and money–all commodities a small business can rarely afford. As Oregon and other states begin moving towards legalized marijuana dispensaries, medical or otherwise, dispensary owners will need to keep a keen eye on regulation legal battles.

Has your Marijuana Dispensary been discriminated against?

Posted on November 22, 2013 by admin

There is something that screams trouble when it comes to the stories of Marijuana and the dispensaries that process the payments. Mary Jane, as it has affectionately become known over the years, has made great headway into the headlines over the last few months. 17 of our 50 states now have legalized the medical form of the herb mostly for those suffering ailments that we don’t always understand. The herb has been made into paper, clothing, medicine and even a stomach ailment. Helping those that can’t eat to maintain a steady diet and calm their stomach.

If you have a medical marijuana merchant account and you got shut down, it was from Federal Fear that that was grown from. Not too long ago, the Department of Justice came after the herb growers and the dispensaries. They threatened the merchant account servicers, Visa, MasterCard, Discover and American Express with thoughts of loss and arrest if they were involved in any shape or form with marijuana accounts. Well who in their right mind is going to fight with that strategy? They have bigger guns and prosecutors that yell very loud.

As time has passed

Since then, new laws have come into effect and State and Federal Senators, among others, are changing the laws. They have backed off the dispensaries and allowed them to do some good rather than be fraught with evil and uncertainty.

Up front

For customers you have to be in the dispensary with a pin based system to purchase the product, and only a few of the merchant account servicers have come back out of the wood work. Much like the fairytales with the wicked witch, they are tiny rabbits shivering behind whatever they can find to stay safe. Do you blame them?

Specifically

In order to find the marijuana merchant account servicers you need to do a specific search for their services. They might even be a bit skittish, but they were brave enough to try and it’s that attempt at some normalcy that they are reaching for.

Since this is a high risk merchant account, your services may cost a little more than most, but under the circumstances, it is understandable. You will just have to adjust to the cost and pass it on. With the advance of debit and credit card processing, it can only make things a little easier than they were.

Here’s hoping

For those scared rabbits out there, the tunnel is slowly clearing. Dispensaries are coming out of the wood work to do business above ground again. They don’t want to have those large sums of cash on them and would prefer to have the ability to process the debit/credit card amounts over the wires. They want to be secure like everyone else in the merchant account servicer processing arena. So, everyone take a deep breath and try this again.

The Department of Justice has promised that if a dispensary is running within the law, they will be left alone. Let’s hope they get a chance to do that very thing.

Company :
Name :
Email :
Phone :
Time Zone :
Volume :
Type :

Tag Archives: dispensary merchant account