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Merchant Accounts Collectives, Co-Ops & MMJ Businesses

Another major blow was dealt to the mmj industry in July 2012 when Visa and MasterCard stopped servicing merchant accounts for medical marijuana dispensaries and collectives.

Other than Discover Card, the medical marijuana industry was left with no credit card processing capabilities, forcing them to operate mainly as cash only businesses. Due to the fact that most people prefer not to carry a lot of cash, dispensaries decided to install ATMs. However, the management of an ATM, soon became another headache for some dispensary owners.

mmj merchant accountsThe many medical marijuana merchants that The Transaction Group (TTG) had previously set up with merchant account services needed a new alternative from us. We felt their pain and immediately set out to find a better method.

It wasn’t long before we created an alternative system that uses a similar style terminal to swipe customers’ cards for medicinal cannabis sales. The solution is perfectly legal and works very well.

Our alternative provides savings over a traditional merchant account.

With TTG’s solution, dispensaries have the ability to accept any of the 4 major credit card brands.

Best of all, the approval process is fast and easy. Dispensaries can start taking credit cards in just a few business days.

Ready to apply for this merchant account alternative for your dispensary or co-op? Call us today at 888-383-8056 or email us at sales@thetransactiongroup.net.

We look forward to helping you!