Cannabis Industry Processing

The Cannabis Industry’s First Legal & Compliant
Merchant Processing Program!

The Background and The Solution!

Background

Taking credit card payments in the Cannabis Industry is NOT Legal. Until Cannabis becomes federally legal, Visa, MasterCard, American Express, and Discover do not allow any merchants in the Cannabis Industry to accept their credit cards for payments.

Originally, merchants lied on their merchant applications as to the nature of their business and didn’t include the word, cannabis, in the name of their business. When they got found out, their merchant account was immediately shut down and they were put on a “Hawk Alert” list.

Cashless ATM is a common work around but is, in fact, fraudulent. Read this news article to avoid legal consequences. Visa does not allow Cannabis merchants to run payments via their debit network called Interlink. MasterCard, likewise, does not allow cannabis payments on their debit network called Maestro. Merchants are getting shut down when caught taking debit payments on these networks with their cashless ATM terminals.

The Solution: True Pin Debit Vs Cashless ATM

True Pin Debit

Cashless ATM

Desktop Pin Debit Terminal

Wireless Terminal

Merchant Application Requirements Checklist

Once pre application if verified, merchants will execute the Merchant Processing Agreement, Bank Attestation Disclosure, and MRB Addendum electronically via E-Signature. Bank Attestation means merchants must attest that their depository bank has a BSA/AML complaint cannabis program and is fully aware that merchants is involved in the cannabis industry.

Website & Online Presence Requirements

Definitions

What You Will Need to Have Ready Before Applying for Pin Debit Payments at Your Cannabis Dispensary!

 

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