Marijuana Merchant Services
Medical marijuana merchant services
are available to all medical marijuana
merchants operating in a state that has
legalized medical marijuana. If your
business is located in one of these states
you can start accepting credit cards and
debit cards within the next couple of weeks.
Once you begin accepting credit cards you
will see your business multiple. These
businesses that are already operating have
most likely already been approached several
times by customers wanting to pay with their
credit or debit cards and were turned away.
There are a few different ways for
marijuana merchants to accept card payments.
The first part is to make sure all of your
documentation is compiled. It is going to be
important to provide all of this information
to the underwriter when you begin to apply.
High risk payment processors will require a
checklist of supporting documents. It is
always better to provide more information
than less information. A high risk marijuana
merchant account provider would rather see
more information than less information
during an approval process. Your merchant
account representative will help you through
the process of what is going to be required
from you. Most payment processors will
outline their rules and regulations during
the underwriting process. You will need to
have a physical brick and mortar location.
Payment processors will not approve an
online marijuana business.
When operating a business it is
always important to work with a competent
payment processor, high risk industries are
no different. Marijuana merchants want to
partner with a credit card processor that
will provide seamless service while staying
in line with any state and federal laws.
Offshore Merchants has been setting up
marijuana merchant accounts since they were
legalized. Offshore Merchants has several
merchant account options for businesses of
all sizes in all states (where marijuana is
legal for medicinal use).