Why Marijuana Shouldn’t Be A Big Deal

Posted on February 19, 2015 by admin

Few 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!

Exciting Times to Be a Pot Lover

Posted on February 19, 2015 by admin

The 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.

Is Legalizing Medical Marijuana a Smart Fiscal Move?

Posted on February 19, 2015 by admin

The battle to legalize marijuana is more heated than ever. Opponents of legalization believe it will cause higher drug use among teens and increase drug related accidents. Proponents think that legalization will create an influx of state revenue, and reduce the amount of money the state spends on arresting responsible marijuana users. But is legalizing marijuana really a smart fiscal move?

Support for legalization of marijuana is not just found by users or people who want to be users, but by individuals who no longer view marijuana as a gateway drug for harder drugs (17% of Americans). Perhaps the most prominent driver for legalization are strapped state governments in desperate need of funds. The ability to allow marijuana and then tax it, is almost too good for many states to pass up. Plus legalization will significantly cut spending on law enforcement, prison sentences, and legal costs used to jail and prosecute marijuana users.

The potential revenue generated from legal marijuana usage will vary greatly from state to state, and will depend heavily on state legislation. Revenue will also depend on the final price of marijuana – whether it is more or less expensive than illegal markets, the demand for marijuana, and the demand for marijuana.

Even though the Obama administration recently released new guidelines that allow banks to work with legal marijuana merchants, most bank officials say the guidelines still place too much culpability on them. Under the guidelines, bank officials must submit annual reports swearing that their cannabis merchants are legitimate, and if the companies are not legitimate, the bank is charged a stiff penalty. As a result, most banks refuse to manage marijuana merchant accounts.

Medical marijuana payment processing is an intricate business that requires expert knowledge. As state after state legalizes or decriminalizes marijuana, you will need a competent payment processor to manage your medical marijuana merchant account.

Learn more about expanding your customer’s payment options beyond cash. Call 1-800-466-1809 or click below today.

New Bank Option could Breath a New Life into Marijuana Industry

Posted on January 30, 2015 by admin

A new solution for medical marijuana businesses may be floating on the horizon. Since the recent push for the legalization of medical marijuana in certain states began, those who have ventured to start a business have encountered the same recurring issue – marijuana is still illegal on the federal level. This being the case, funding can be difficult if not impossible to find.

Regardless of medical marijuana being legal in Colorado and 22 other states, some marijuana store owners have had twenty plus bank accounts closed over time due to the nature of their business. As a result, the majority of these entrepreneurs are forced to operate as an all-cash business. It goes without saying that operating in such a way can be very dangerous. It is also time consuming and costly.

Fortunately, a new credit union been formed specifically for marijuana businesses promises to change things for the industry. The Fourth Corner Credit Union has a support group of attorneys, legalization advocates and business owners who see the potential of the industry; unlike the traditional bank owners who only see endless legal problems.

With this new credit union, business owners can expect to have safe and steady business accounts. They will no longer struggle to keep one as before and be forced to operate with cash only. They will also save considerable amounts of time since tracking cash and double checking ledgers will no longer be necessary.

The business will be not only be easier for the owners but also for the employees. For those without bank accounts, issuing paychecks is impossible. Wads of cash have to be sent home with employees on their pay days.

The fact that so much cash is lying around – and criminals are aware of this – makes it very dangerous for both employees and owners. Safety will be one of the biggest advantages of the new credit union and what it has to offer businesses. Moving cash to discreet locations for the safety of employees and customers will no longer be necessary.

The credit union means government regulation of businesses will be possible; thus, greater transparency and the ability to accept credit cards. Like never before, the government will be able to monitor for drug cartel activity. The operation of medical marijuana businesses will become a little smoother for all involved.

In the meantime, another option for businesses to consider is finding a payment processing provider that offers medical marijuana merchant accounts. These providers are comfortable with the “high risk” aspect of the marijuana industry and offer safe solutions. With marijuana-merchant-account.com, the application process is simple and hassle-free. You can steer clear of the endless documentation requirements and obtain your funds quickly.

Need Marijuana Payment Processing Solutions, we can help!

The Task of Merging the Medical Marijuana Market with the Recreational

Posted on January 29, 2015 by admin

Since the very beginning of the push for the legalization of marijuana, the industry has experienced challenge after challenge. First, the battle for the legalization of medical marijuana raged. With the substance being illegal on the federal level, the issue of funding, or the lack there of, became – and still is – a struggle for those attempting to enter the industry.

The continued push for the legalization of not only medical marijuana, but also recreational marijuana has led to a new challenge: how to merge the medical use market with the recreational market. At present, Colorado and Washington are busy going over how to implement a full legalization system that will function along with the current medical use system.

One of the reasons behind this push is the need to cripple the black market while also converting smokers to the regulated and legalized system. The answer seems to be the combining of the two systems with the hope that doing so will shut down the black market dispensaries currently supplying a considerable amount of the marijuana market.

The fact that legalization is still up in the air in some states and that other states are battling the challenges that follow legalization means the industry continues to be a challenge for businesses wishing to achieve success. That being said, payment processing solutions are an important issue for startups and current businesses. All options must be considered if a business wants to make it in this industry.

For many undergoing the struggles of the marijuana industry, marijuana payment processing has become their solution. The internet is the best place to find these options. Marijuana payment processing solutions are offered for both retail and delivery dispensaries; these solutions allow patients to pay with their credit card, debit card or savings account.

The advantages are that patients are not kept waiting by having to use ATM machines and experiencing network ATM fees. Marijuana-merchant-account.com has been helping medical marijuana dispensaries with payment processing for nearly 10 years. They gladly help businesses reach their financial goals by offering clients a full suite of payment processing options.

Contact a representative today to learn how they can assist you in making your business run smoothly while also providing customers with a fast and hassle free experience.

For Marijuana Payment Processing Solutions, contact us today!

Marijuana industry creates new job sector with an estimated 200,000 jobs

Posted on January 29, 2015 by admin

The Marijuana industry will create an estimated 200,000 jobs by the end of 2015, with a forecasted $21 billion in revenue by the year 2020. The marijuana legalization measure passed in December 2014 will bring safety for those interested in working in the marijuana business. New employees are hired every day as the marijuana industry continues to grow.

With the new Federal spending bill that was passed, Marijuana operations are free from FDA and DEA raids as long as they abide by state laws. This is a monumental step towards more people feeling confident working in the marijuana industry. The estimated 200,000 new jobs that will be created should help the influx of college graduates and cannabis entrepreneurs looking to grow their business.

Benefits of the medical marijuana can be more widely available as more operations will be opening up throughout the legal states. The estimated $21 billion in revenue will surely bring in the much needed tax dollars. Progressive times are evident as the cultural shift towards cannabis acceptance is happening before our eyes.

The new and growing marijuana industry clearly forecast an upwards climb in sales as new grow operations have received the green light to grow without FDA or DEA interruption. Depending on the demand, the industry could actually be worth more than the estimated figures by 2020. If you are interested in getting into the industry make sure to get the proper marijuana business funding to start your business. At marijuana-merchant-account.com they can help you with all the necessary funding to buy supplies and materials to get your business up and running. With industry specific knowledge, they can help you with all your marijuana needs.

The marijuana industry is without a doubt a growing industry. California is suggested to be worth $31 billion in cannabis, which is a huge return in tax dollars. With the new marijuana bill in place, time will tell exactly how many new jobs and revenue will be created. As of now, this is the best time to revel in the new changes and the opportunities it will bring.

4 States Legalize Marijuana

Posted on November 17, 2014 by admin

Currently just four states have taken the step forward and allowed the recreational use of marijuana; it is no longer a criminal offense to use the drug if you are over 21.

This will allow businesses to grow and develop, to take part in this potential profit making business. It is important that you understand the requirements set out in the state you live, because some rules are different. For example in Washington they chose not to bring in the legalization of selling the drug, however you are able to grow your own.

Unfortunately, Florida didn’t manage to push through legislation for the use of medical marijuana this time; it missed the mark by just a few votes.

With 23 states now able to allow the use of medical marijuana, it might not be long until this increase to other states who understand the importance of allowing an individual to decide if they want to use a drug, which can help relieve the pain and suffering of many different conditions.

Running your own business in the field isn’t as difficult as before, there are now more options to consider when it comes to the merchant account provider who will allow your customers to pay using their credit and debit cards.

Applying for a marijuana merchant account is possible; it is a high risk business and you will need to consider this when you apply, it doesn’t mean that you should expect excessively high charges or payment terms that you don’t agree with.

There are many business regulations and licences that you would need to apply for first, and while many people think that this is easy money, it is not. There is a lot of hard work involved and in some states it is not possible to set up a normal business, it needs to be a non-profit business.

There are also differences in business that you can claim back as part of normal expenses and others you have to fund yourself. It can get very complicated as to the amount of federal tax you have to pay. Understanding all these restrictions is key in making a successful business in the marijuana field.

For a Marijuana Merchant Account, contact us today!

The War on Drugs Could End this November for Many Americans

Posted on October 30, 2014 by admin

The war on drugs will have more skirmishes this election season. This November the American people won’t be voting on the President, but many will be voting on the legalization and decriminalization of marijuana. Seven states, around 17 municipalities, and one U.S. territory will be voting on drug policy reform questions this November. This is more than at any time in history!

Legalization of Marijuana

In November, Oregon will be voting on Measure 91, a bill that will make the Beaver state the third state to legalize marijuana for adults 21 and older. The measure will legalize the possession of small amounts of the drug and create a system to regulate marijuana sales and production. The District of Columbia has already adopted a wide reaching marijuana decriminalization law. In November, the District of Columbia will take it a step further and propose the legalization of small amounts of marijuana for adults 21 and older. The D.C. Council is also considering the taxation and regulation of marijuana within the district.

Alaska made the possession and cultivation of small amounts of marijuana legal in the 1970s. And in 1998 the state legalized the use of medical marijuana. This year Measure 2 would make the possession of marijuana legal for adults 21 years of age or older, and like the Oregon ballet it would establish a statewide regulated system of cultivation and sales.

Medical Marijuana

Amendment 2 in Florida will propose legalizing medical marijuana in the sunshine state. The successful adaptation of the bill will make Florida the first southern state to approve such a measure, and will make it the 24^th state to recognize marijuana as a legitimate form of medicine. Guam could also become the first U.S. territory to adopt medical marijuana if a current medical marijuana bill is passed later this year.

Other Reforms

California will consider reducing the charge of simple drug possession from a felony to a misdemeanor. 3 cities in Maine, 11 cities in Michigan, and 2 cities in New Mexico, will also be voting on the decriminalization of the possession of small amounts of marijuana.

This voting season is proof that public opinion about marijuana is changing. The passage of the proposed initiatives would be a major victory in the war on marijuana, and would set a hosts of precedents that could lead to legalization nationwide.

Contact us for a Marijuana Merchant Account today!

Banks are Slowly Warming to Legal Marijuana Dealers

Posted on October 24, 2014 by admin

In February 2014, the Obama Administration gave the banking industry the thumbs up it needed to offer financing to pot distributors, as long as they legally conduct business. This decision was welcomed as a step forward for marijuana commerce. However, the financial system felt that it was too much of a risk to do business with companies whose products were still technically illegal under federal law.

According to The Washington Post, “Credit unions and banks are wary of running afoul of money laundering statutes by accepting proceeds from an activity considered illegal under federal laws. That has made it difficult for legal marijuana dispensers who must operate exclusively in cash, placing them at greater risk of being robbed.”

To address this issue, some guidelines were implemented to make the process for the banking system more efficient and safe. There are now new rules concerning the notification of federal regulators when activity appears to be suspicious. There are three categories of marijuana-related reports in place to use in such situations.

The first category, “marijuana limited” is used when dealers are truly following the government’s guidelines and ensuring that sales revenue is not falling into the wrong hands. According to Jennifer Shasky Calvery, the director of the Treasury Department’s Financial Crimes Enforcement Network, the banks have filed 502 such reports since the change was issued.

The second report, the “marijuana priority”, is used to alert regulators when a dealer’s revenue is not coming from legal exchanges. The final category and report is the “marijuana termination” report; this report involves the relationship between the bank and the pot seller coming to a close. According to Calvery, 475 such reports have been filed.

Fortunately, services offered by high risk merchant account providers have made life much easier for these businesses as they struggle with the changes in the financial system that are moving slower than many hoped.

We can get your dispensary approved for merchant processing!

Medical Marijuana Industry Poised To Exceed $8 Billion by 2019

Posted on June 27, 2014 by admin

A new report published by IBISWorld Research claims that the medical marijuana industry could reach a revenue of $8.4 billion by 2019. In 2014 the revenue is projected to grow by 63.1%. Annually, the growth rate would be nearly 19%.

There are some challenges that the industry could face including state and federal regulations. Due to many state laws medical marijuana is mainly a small business operation though the industry is set to pay more than $750 million in wages making it very valuable.

As such there are many companies which will expand their operations, unveil new products and new partnerships to continue to grow in the cannabis market.

DirectView Holdings, Inc. (OTCQB: DIRV) a leading security and video technology company has created a strategic partnership with CannaPods, LLC to be the exclusive security solutions provider for CannaPod’s customizable portable cannabis grow rooms. The terms of the agreement mean that CannaPod will recommend DirectView as the vendor for its cannabis grow room environments. DirectView could then provide video surveillance, video monitoring and video recording products to CannaPods and sister company PonicPods, LLC., which makes growing environments targeted at a variety of industries including organic foods.

In regard to new products Green Cures & Botanical Distribution Inc. (OTC: GRCU) are taking steps to innovate in the cannabis and botanical industry by creating high quality hempseed oils and cannabis flower topical medicinal and botanical products. With plans to work in multiple industries including Nutritional Supplement/Dietary, Health and Wellness, Functional Beverages, Hemp and Online Marketing the company stands to gain significant sales especially in the Nutritional Supplement/Dietary industry which is evidently worth more than $31 billion in the United States. It is estimated that half of all Americans use some type of dietary supplement and 40% use nutritional ones.

MediFarm LLC, a subsidiary of Terra Tech Corp. (OTCQB: TRTC), recently obtained a special permit in Clark County, Nevada to create a medical cannabis cultivation and production facility which will allow it to expand its extensive experience in agriculture and medical cannabis growth. The company will now seek approval from the state for the proper business license to operate its facilities.

Vapor Group, Inc. (OTCQB: VPOR) is set to introduce a new line of high-end products at the Weedstock Cannabis Investor Conference in Denver. The company plans to display a new line of vaporizers including the “Vapor Box THB” which gently heats the dry herbs or oil-wax with air inside a controlled temperature heating chamber. This would vaporize without burning an herb unlike current vaporizers which use heating coils. It has been created to have a 10,000 hour lifetime.

With so much expansion in the marijuana industry the use of marijuana merchant accounts is set to grow as well as facilities look for ways to securely and effectively process payments. Payments are an important part of the industry and the facilitation of payments through a marijuana merchant account will make the process easier and more efficient.

For a Marijuana Merchant Account contact us today!

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Tag Archives: marijuana payment processing

Why Marijuana Shouldn’t Be A Big Deal

Exciting Times to Be a Pot Lover

Is Legalizing Medical Marijuana a Smart Fiscal Move?

New Bank Option could Breath a New Life into Marijuana Industry

The Task of Merging the Medical Marijuana Market with the Recreational

Marijuana industry creates new job sector with an estimated 200,000 jobs

4 States Legalize Marijuana

The War on Drugs Could End this November for Many Americans

Banks are Slowly Warming to Legal Marijuana Dealers

Medical Marijuana Industry Poised To Exceed $8 Billion by 2019

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