The marijuana industry has skyrocketed in recent months. Due to new laws and regulations marijuana has become widely more accepted, with over 47 states in the USA legalizing marijuana in some form. This is a multibillion-dollar industry and is booming now more than ever. Many individuals have decided to dive right into the cannabis-related industry and make quite a bit of money.
Medical and recreational cannabis businesses can now offer their customers online payment processing using a marijuana merchant account. Cardless payments can be messy and unorganized, fortunately, there are high-risk merchant account providers for marijuana companies, allowing for a card, not present transactions. Nearly everyone purchases marijuana online or with a debit or credit card.
Marijuana merchant accounts are extremely useful and in high demand, because the industry continues to grow each day. The last thing you want to do is turn money and customers away because you do not offer credit or debit payment processing. Marijuana merchant accounts are not easy to come by because many banks do not support this industry. High-Risk Payment Pro’s offers marijuana merchant accounts that are targeted towards the convenience of accepting credit and debit card payments for your customers.
These financial institutions are typically unwilling to take any form of risk when it comes to federal regulations, including marijuana merchant accounts. If your marijuana merchant account was terminated and shut down it is not the end of the world, you can get your business recovered and accepting payments. The majority of merchant service providers have been denying marijuana merchant account applications for credit card processing solutions. This creates a huge challenge for the marijuana industry considering it is almost a must to have online payment processing.
There is an incredibly high risk of chargeback claims; this is due to how to products are produced and then purchased. If a client is unhappy with the product and they felt like what they purchased was not up to par then they have the right to receive a refund. This adds to the unhappy chargeback ratio. Because this is a very new industry there are a lot of laws and rules that coincide with these marijuana merchant accounts.
The cannabis industry is very sensitive and complicated when it comes to finding a payment processor. We can make it easy for you with our high approval rate and long term experience with high-risk merchant accounts, that is our specialty! High-Risk Payment Pro’s offers custom marijuana merchant account solutions for your business.
So, if you’re a new marijuana company you might be wondering how high risk affects your marijuana merchant account. Well, for starters it limits your chance of being accepted or approved by certain banks and payment processors. This doesn’t mean there is no hope, however, specific banks have a negative stigma against the marijuana industry. If an industry is labeled as high risk it usually turns merchant account providers away because of their lack of knowledge or experience in this industry.
Yes, it is a challenge to find a payment processor that understands the unique and intricate needs of your business. High-Risk Payment Pro’s provides your business with the support and care it needs to flourish into a profitable business. We want you to live up to your full potential in the marijuana and cannabis-related industry, we have faith in your company.
If you are in search of the top marijuana merchant account provider you have come to the right place. Merchants have made us their go-to when it comes to payment processing solutions. We thrive to make you confident and focus on your cannabis company while we handle your marijuana merchant account. Payment Pro’s is fully versed and experienced to understand the specific needs marijuana business seeks. We have your back and will make sure you are approved and processing payments in 24 hours or less. We have solutions for you!
Looking for a Marijuana merchant account?
Well, for starters it’s in the name, high risk, that is our specialty. At High-Risk Payment Pro’s we understand the challenges businesses face once they are categorized as high risk. Payment Pro’s has strong banking relationships and savvy technology to bring you the payment processing you and your customers deserve. We have the expert experience in getting Marijuana Merchant Accounts approved and accepting online payments in no time!