We have been happy to help all of our Washington State marijuana merchant account dispensary clients. By accepting non-cash payments, businesses are seeing increase in size of average sale and increases in sales overall. If you are involved is the budding business of marijuana – whether it be medical marijuana or recreational marijuana, you have likely encountered the problems many similar businesses are facing when approaching banks for solutions as simple as opening a business checking account. Don’t put all of the blame on the banks, it is the federal government which still has marijuana classified as a dangerous drug and is disallowing financial institutions from providing basic services to your marijuana business. Let us help: 1-855-246-8640.
Once we found initial success, we have been focused on providing Washington State marijuana merchant account services to all marijuana-related businesses.
Washington State is one of the newer members to the growing number of states which allow businesses to sell both medical and recreational marijuana in retail locations. Of course there are barriers to getting into the industry, a lot of investment needed and regulations to follow. Once you get all of the way to the point of opening your retail location, you will be disappointed that not all banks will do any sort of business with you and none will be able to help you with accepting credit cards/establishing a merchant account for your business.
We began servicing the marijuana industry over seven years ago.
Solutions have come and gone and we are always among the first to hear about the next solution coming for the marijuana industry. One solution which has been solid for a number of years is the Point-of-Banking or POB solution. This is not a traditional merchant account. When you sign up for an account, you will purchase a terminal which looks like a credit card terminal, but your customers will utilize it to either do a PIN-based debit card transaction, taking money from their checking or savings accounts; or they will use the 4-digit PIN to do a cash advance on their credit card if their issuer allows. The cardholder will agree to a service fee and each transaction costs the business owner $0. There are no monthly or per transaction fees. You will also have the ability to allow the cardholder to do a “cash back” transaction. The customer would agree to the purchase amount, the fee amount and the cash back amount. Once the transaction is approved you hand the customer the product and cash back and the money will be in your checking account in 2-3 days.
In addition to the POB solution, we are offering a new solution which functions more closely to a traditional merchant account. It runs using an App which can be purchased from the app store. It will run on either IOS or Android devices. Card swipers can be purchased from our company. One Android tablet is required but the other devices used to run the transactions can be mixed and matched. This account will accept debit and credit cards without the use of a 4-digit PIN. There is a per-transaction fee the business owner pays and also a service fee the cardholder agrees to pay.
Some of our customers have chosen to utilize both solutions. If the cardholder only has a credit card, the traditional merchant account solution is utilized. If the cardholder has a debit card, the Point-of-Banking (POB) solution is utilized. Either way, you will see an increase in sales utilizing our Washington State marijuana merchant account solutions. Neither solution has monthly or on-going fees. Call today: 1-855-246-8640.