We all knew it was coming. Banks and mainstream merchant account processors are not wanting to deal with legalized and medical marijuana merchants. These companies are prone to having a higher risk of fraudulent activity, therefore higher fees for the banks to pay out. Banks are stingy with their funds, so you can see why these businesses are turned down for merchant accounts. While it might seem like a good idea to have a cash-only business and forgo plastic card payments all together, it is not in this type of business.
Medical and legalized marijuana merchants also have a higher risk of being robbed, so a cash-only business is a bad idea. Finding a medical marijuana payment processing (or merchant) account is not difficult, if you know where to look. You need to look no further than First American Merchant. We know how hard it can be to operate any business, especially a medical and legalized marijuana business. We offer top-quality terminals, software, and security to our merchants, because we value your safety and security. While others charge large processing fees because of the type of company you operate, we do not. We believe that all merchants deserve fair service. When a processor overcharges a business, it can put that business in jeopardy of closing. Funds are tight all around, and that does not help matter.
In addition, our application and processing times are quick, because we know that you want to get your medical marijuana payment processing systems up and running as soon as you can. We also do not discriminate if you, the merchant, have bad credit. Every business deserves a chance to make it in this economy, and with the popularity of medical and legalized marijuana, this is the perfect time to hop into the game.
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