Marijuana Merchant Account
May 18, 2023
A marijuana merchant account may seem hard to obtain. This is because cannabis, CBD, and Delta-8 companies all ride the fine line of “high risk”. For banks, this means increased regulations and keeping an eye on the industry. Luckily, if you fall into this category there are solutions to cater to your processing needs.
Historically, the cannabis industry and marijuana payment processing were closed-off to most businesses. With the ambiguity and changing Federal and state laws, it was difficult to find reliable providers. Nonetheless, as progress made way to change, one-by-one certain private banks emerged in response to the demand.
With PayKings, we help you establish your payment channels and get your ecommerce site established as a legitimate sustainable company. Moreover, we provide top-tier customer service to help with your application, underwriting, and onboarding.
Marijuana Payment Processing
Let’s face the facts, customers want payment options, and most of them prefer credit cards. Operating an online store means catering to your customers in order to get more sales. Moreover, you may have excellent products and memorable branding, but when it comes to checkout, are you equipped?
Major credit cards like VISA, MasterCard, Discover, and American Express have strict guidelines for cannabis-related sales. Additionally, understanding the subtle rules, and operating your business properly is key to getting long-term solutions.
Security is also critical. Customers want to keep their information safe and may feel reluctant to purchase marijuana online. Having a secure checkout and marijuana payment gateway is important to lock in transactions.
Growing your Cannabis Business
As the popularity of marijuana spreads, so will the competition within the industry. To stay ahead of the game, you’ll need to have every aspect of your company streamlined. This includes selecting the best types of products that represent your brand.
Some popular cannabis-related products include:
- CBD Oil
- CBD for Pets
- Hemp Clothing
- Marijuana Pre-rolled
Within this market, there is a diversity of products to choose from, but each come with their own restrictions. For example, CBD should have Certificates of Approval which show less than 0.3% THC content. In addition, if you’re selling a cannabis-related good like packaging, shirts, or creative design services, you’ll have even fewer regulations than those who sell the product directly.
If you want fast Marijuana payment processing at a low rate, be sure to contact PayKings. We’ll guide you through the application process and help get your cannabis store running with a sustainable marijuana merchant account.
May 18, 2023 | Merchants | Dustin