We have been offering payment solutions for marijuana-related businesses for seven years now. Like many store owners, you have seen solutions come and go over the years. We are currently able to offer both a point of banking solution and we also have a marijuana retail store merchant account which runs on an app available on IOS or Android. Both solutions are available today. Call: 1-855-246-8640.
We have a marijuana retail store Merchant Account which is backed by well-known payment providers and is being implemented at retail locations across the country.
We have been offering the POB-Point-of-Banking solution for a while now with great success. This solution allows the customer to use their PIN to run a debit card transaction or a cash advance against their credit card. All fees get charged as a service fee to the cardholder and the transactions cost nothing for the store owner.
Our new solution closer to a merchant account you would obtain for a traditional store, but is still a merchant account for marijuana retail stores. It works with either Android or IOS/Iphone devices. The card readers are available for purchase. The app needs to be downloaded to the devices being utilized to process transactions. When the customer is ready to check out with the product, the sales person at the store simply takes the credit or debit card and swipes it through the card reader on the phone. The customer then agrees to the sale amount and signs using the app on the phone. Each business will need one Android Tablet for reporting. There are no monthly fees on this account and the transactions are processed the same way as any other store in your area. The one difference is that the cardholder does need to agree to a service charge at the time of the transaction.
Some of the customers we have spoken with have chosen both solutions. The POB solution charges the customer and works best with PIN-based debit transactions. It will be cheaper overall than our merchant account solution based on industry statistics – average ticket and monthly volume. The benefit to the merchant account solution is when it is a true credit transaction and the customer does not have a 4-digit PIN or is unable to do a cash advance. This solution will accept all debit and credit cards as a credit card transaction. There is a percentage the store owner has to pay of each transaction and a surcharge has to be agreed to by the cardholder, but it is a small hurdle to go over to finally have a real merchant account to accept credit cards at your medical or recreational marijuana store-retail location. Call today for more information: 1-855-246-8640.
Here are the states where retail marijuana stores have been authorized to operate:
- Washington, D.C.*
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Dakota
- Rhode Island
*Medicinal and Recreational Marijuana laws have passed*