marijuana dispensary credit card terminal

#Marijuana dispensary credit card terminal how to
#Marijuana dispensary credit card terminal professional

Higher prices for processing of MMJ-related card transactions are due to special arrangements which must be made with banks. With this type of funding, you certainly want to be sure of your financial accuracy of transactions from each credit card accepted online or by walk-in customers.

Policy guidelines are not law.Īn application for approval to open a dispensary for MMJ is expensive and usually requires at least a quarter million dollars in proven liquid assets. Marijuana dispensary owners should not fall into the trap of accepting a lesser quality service in order to keep the costs down.Īnother factor which may affect the perceived risk level for an MMJ business is that federal policy for states with medical marijuana laws have been released under one administration and might be subject to change under another administration. This elevated risk also applies to the cost of merchant accounts. As with any industry where there is increased risk, the costs of doing business tends to be higher than everyday retail operations. The credit card processing firm in Albuquerque, New Mexico also recognizes the additional risk which is linked to marijuana operations. The gray area between federal and state statutes leaves an opportunity for entrepreneurs but these business owners must understand and accept the high risk of operating in the industry.

#Marijuana dispensary credit card terminal professional

Because MMJ is still considered a Schedule 1 drug under federal law, A legal professional with advanced knowledge of the industry should be consulted. Because of our American location, Lucid Leverage Financial complies with all federal regulations which are imposed upon MMJ facilities. Our firm doesn’t use overseas accounts, which improves the level of security and peace-of-mind for customers, as well as for the processor. Some of the reasons for choosing us as your merchant processor include the fact that we handle all credit card processing in the United States. We are an integral part of your MMJ dispensary team. Lucid Leverage Financial LLC is a credit card processing agency based in the United States. Lawyers, business planners, consultants and credit card processing operations must be above reproach. It is important for the business to be certain of the experts and professional practitioners to be the best in the business. Operating above board, as well as strict compliance with procedures such as paying taxes and monitoring inventory within the secure dispensary facility as well as the grow center is paramount.

#Marijuana dispensary credit card terminal how to

One of the things that you need to consider before establishing an MMJ dispensary is how to take care of credit card processing for medical marijuana dispensaries in Albuquerque, NM.īecause there are variances between federal and state laws related to marijuana, it is especially important to conduct all MMJ business transactions with financial transparency.

Medical Marijuana dispensaries have become a major industry in those states which permit the sale of the substance.