Marijuana Business Merchant Account & Payment Solutions (MMJ MERCHANT ACCOUNTS)
Background of the MMJ industry
Medical and recreational marijuana has swept the United States and become one of the fastest growing industries, period. The governmental policies that have evolved from the strict, war on drugs, to the current, ‘let the states decide’ mentality has created one of the most profitable industries in the world.
States such as Colorado and Washington have taken the medical marijuana dispensary to the next level and have legalized recreational marijuana sales. As such, anyone of legal age can purchase Colorado marijuana or Washington marijuana.
There has to be a better way to run a medical marijuana dispensary than accepting cash only right?
Marijuana (MMJ) industries
Of course there is, and MNBS Payment Solutions has multiple options for every type of business in the medical marijuana industry (MMJ). It is not just medical marijuana dispensary’s that are flourishing, but also related businesses, including:
- Medical Marijuana Dispensary’s
- Multiple Merchant Accounts (MIDs). MNBS Payment Solutions helps adult merchant providers manage chargebacks and risk by providing multiple merchant accounts (“mids”) domestically and internationally.
- Recreational Marijuana Dispensary’s
- Marijuana Seeds
- Marijuana Delivery Service
- Offshore Solution. MNBS Payment Solutions can offer adult merchants an offshore solution for their merchant account needs.
- Marijuana doctors
- Hemp oils
Although the states have legalized marijuana, the federal government has not officially changed its policy to date; accordingly, marijuana dispensary’s are not able to legally obtain a merchant account located in the United States, yet.
Once the federal government changes its policy on marijuana, MNBS Payment Solutions will be the first to provide high risk merchant accounts for all marijuana based businesses directly in the U.S.; until that day, MNBS Payment Solutions has created an extensive list of alternative payment solutions for marijuana businesses.
One alternative includes: MNBS Payment Solutions has developed a workaround for all legal marijuana businesses to accept Visa & MasterCard, legally, within the U.S.; this solution is an E-Wallet. This Paypal like solution is the perfect way for your business to accept Visa & MasterCard and not worry about breaking federal law.
These alternative payment solutions include:
Marijuana Business Alternative Payment Solutions:
1. Credit Card Processing
[su_spoiler title=”E-Wallet”] MNBS Payment Solutions has developed an exclusive marijuana e-wallet so that any US based marijuana dispensary or marijuana business can accept Visa & MasterCard payments for their products.
[su_spoiler title=”Offshore solution”]Unlike the U.S. there are countries that do not consider marijuana based businesses illegal. As such, MNBS Payment Solutions has direct banking relationships for offshore merchant accounts for medical marijuana credit card processing.
2. Alternative Payment Solutions
[su_spoiler title=”ATM”]CASH IS KING. Regardless of the payment solution that you choose to accept at your business, its always a good idea to have cash available for your clients/patients. MNBS Payment Solutions has an exclusive relationship with the ONLY Court APPROVE ATM Company in the US. This company will place a FREE ATM at a marijuana dispensary with NO RISK, NO COST, and NO WORK for the business owner.
[su_spoiler title=”Cashless ATM”]When a business owner believes that having too much cash at their business is not safe , a cashless or scrip ATM machine is the solution. A cashless ATM is a pin based terminal that does not dispense cash. Instead, the money spent by the client goes directly to the merchants bank account, including a portion of the surcharge. The business does NOT have to pay for ANYTHING.
- NO RISK, NO WORK, NO COST
- NO PROCESSING FEES to business
- No Background Checks for business
- How it works
- After selecting the product, the customer swipes their debit or credit card through a cashless terminal.
- The total purchase or donation amount is entered into the terminal. The customer then enters their PIN and accepts a low transaction convenience fee.
- The customer receives the legal marijuana, and funds are transferred to the dispensary’s bank account within 48 hours.
[su_spoiler title=”ACH”]ACH Payment processing solutions (automated clearing house), is essentially a bank to bank transfer. A client/patient would register once and be able to pay for product directly from their bank account. This is a quick and swift transaction and is great for marijuana delivery services.[/accordion-item]
[su_spoiler title=”DEMAND DRAFT”]An electronic check or demand draft is a product that eliminates the need for paper checks. A marijuana business can receive payments direct from any customer anywhere in the world, with just their bank account and routing number. This is a great alternative payment methods which mitigates the risk of returns and chargebacks.
MNBS Payment Solutions can now provide marijuana dispensary services in all states that have legalized it. To date, that includes: