Colorado was the early mover in the national movement of legalizing marijuana. The businesses who jumped in first before the playing field has become crowded are transitioning their businesses, adjusting to demand and to competition. Since the majority of traditional banks are still unwilling to do business with marijuana-related businesses, and traditional merchant accounts have not been accessible, allow us to help with your Colorado marijuana merchant account and other payment solutions for your business.
Ideally, when a business owner opens the doors for the first time, inventory, sales help, displays and product are all in order. Along with the obvious, the business owner needs all of the licensing, legal documents, bank accounts and ways to accept payment from customers. with a typical business, this would be a merchant account – the ability to accept credit cards from customers. When the card is swiped through a POS or a terminal, that money eventually finds its way to the business owner’s checking account.
An easy route to finding a Colorado marijuana merchant account has not been available for business owners.
During our seven years of servicing marijuana-related businesses, we have been constantly seeking the best, most stable payment solutions available in the industry.
The one solution which has been stable for business owners is the POB or Point of Banking solution. We provide a terminal/pin pad solution to use at your retail location. Your customer is able perform a PIN-based transaction, either doing a cash advance on their credit card or simply using their debit card. The cardholder enters the information and the amount of purchase, agrees to the service fee and the purchase amount is deposited into the store owner’s bank account 2-3 business days later. There are no monthly fees or per transaction fees charged to the business owner. The only fee is paid by the cardholder.
In addition to performing sales, cash back can also be offered. Since the customer is already paying the convenience fee, if you will have the ability to give the customer $100 cash back when the final amount is being agreed to. Each time this occurs, it helps decrease the amount of cash your store keeps on premises.
Call us today or fill out the contact form to get started with the POB solution. There is not really an “application” and no one is declined, but of course there is paperwork involved. We can have you up and functioning with your machines within about a week or so. Call us today: 1-855-246-8640 and see your sales increase by offering the ability for your customers to pay with their credit and debit cards.