Due to restrictions in many aspects, cannabis businesses have a hard time looking for payment methods that are friendly to their businesses and customers since banks that are licensed by the federal cannot and are not allowed to make transactions with any type of cannabis-related industry. The proceeds from cannabis business or dispensary are considered as a criminal; hence, no possible way it can get through banks for transactions, and it is a great challenge among business owners to make transactions apart from cash basis.
In this article, we have gathered relevant information about the best online payment processors for your online dispensary. Take a look at below.
Cannabis Payment Processing
A cannabis payment processor is a service that accommodates online transactions and caters specifically for the cannabis industry, including dispensaries and other related industries. This type of payment processor uses debit or credit cards for payment of purchase in numerous options and methods. Obviously, over time, the rise of cannabis and the industry involving it is popping, thus the rise of innovative ways to make transactions simple and easy.
1. E Merchant Broker
Popularly known as EMB, the E-Merchant Broker is a merchant account that involves many forms of transactions that offers payment methods, trading, payment processing, funding for the business, and many others. They serve cannabis involving transactions, like cigarettes and other industries.
2. Instabill
From the name itself, intabill offers instant transactions of highly risky businesses like cannabis, the most efficient and easiest solutions. It caters to credit cards and alternative fee method with guaranteed fast approval. Try it now to have a hassle-free transaction.
3. MMJPay
A fast and active payment processing service provider that is focusing on keeping the businesses involving cannabis to have a smooth and amazing experience of transactions. They also cater solutions in terms of finances, banking, atm card transactions, payment through mobile banking.
4. Sky High Moly
Based in Colorado, this cannabis payment processor is specializing in merchant accounts for CBD, cannabis, edible, hemp, and other highly risky businesses. There are numerous transactions that this merchant service can offer to everyone, including POS Integration, credit cards, Pass-through Fees, Amex Processing, Discover processing, and many others. On top of this, the Sky High Moly allows your credit card transactions and statement to get customized your merchant service that is specified yo your needs in the business. You can contact them now and start your easy and simple online payment processors for your dispensary.
5. The Transaction Group
This Online Payment Processor was made specifically for the cannabis businesses and other types of risky industries from the local areas and international. The Transaction Group provides an easy payment solution for e-commerce and online businesses. They similarly offer cash advance, checks for online purpose, and POS systems. If you want to get involved with their payment and fast transactions, get started now.
6. Nature Pay
This type of cannabis payment processor has been supporting the cannabis industry that allows online payments and banking. It features the reloadable type of debit card, and also process merchant accounts, atm and credit card for cannabis and other forms of services involving the bank. Their services are easy and simple to avail.
7. CyoGate
This Online Payment Processors provides solutions for easy payment and accommodates all types of cannabis business and other risky industries and merchant accounts. It has easy access to their service became they offer mobile credit card processing and transactions through their gateway. They likewise offer loans for businesses, prevention from charging back check processing online, e-invoice, software shopping cart, and others. To get more information about this payment processor, you can contact them directly.
8. 420 Credit Card Processing
This type of online processing payment method provides service through the processing of credit cards, POS software, solutions through mobile. The services they offer are available anytime. They are just one click away, and you will experience a satisfying and remarkable online payment service for your online dispensary.
9. SQ Merchant Services
A merchant services provider that is based in Oregon. The SQ Merchant Services offers various services and POS systems. They even have atm transactions and deliver cash advances for everyone, that includes anything about cannabis and other highly risky businesses.
10. GreenLeaf Pay
This is the best online payment processor that cater to cannabis businesses only. The GreenLeaf Pay does not only accommodate online but in-person transactions as well. It caters to the POS system and credit card fees. With promising fast service, it also comes with no hidden charges. You can ask for their consultation about their services offered, just contact them online.
11. Helcim
It is based in Canada, the Helcim caters highly risky businesses, including cannabis and all sorts related to it. The site does not only limit to payments but also invoice, inventory, and other e-commerce services. It is indeed a multi-purpose online payment processor.
12. Vantage Payments
This online payment called Vantage Payments does not only support transactions within the parameter of cannabis but also other businesses in the high-risk factor. Just visit the site of Vantage Payments to see the complete list of their services offered, and you will never regret working with them.
13. Globility Link
Operating both on Canada and the United States, the Globility Link provides fast and efficient transactions in the sector of the highly risky cannabis industry. Just like other online payment processors, it is friendly to customers with their fast transactions, and they offer cash advance services.
14. SMB Global
Apart from cannabis, the SMB Global is already known to cater to highly risky businesses and provide accommodating services to make their business more efficient and effective. Do not forget to check them out on their site.
Takeaway
Ever since the cannabis businesses have also relied on cash transactions due to limitations provided by the federal laws, this is why it would be difficult for dispensaries and other businesses to accept transactions through credit cards. Banks and credit cards do not function as intended when it comes to cannabis-related services and businesses, because these type of industries are stereotyped as difficult to work with, which is partly true.
With the help of online payment processors for dispensaries, help these industries to keep up with the growing competition in the same field. Also, it provides a more detailed description of transactions compared to a cash basis.
Online payment processors allow us to experience cost-efficient service. They are not required to have face to face meet up to process transactions. It is also simple to set up and serves numerous purposes, like accommodating multiple items of buyers in one solution. Most importantly, the time consumed online is lesser compared to personal transactions, which make online payment processing more efficient.