Many business owners have struggled since the pandemic hit and many have even closed permanently. This is truly a shame but for those businesses which remain there is a great opportunity to be had. If you operate a cannabis accessory store and also sell CBD through your brick and mortar location and e-commerce website, there are a few new key items to be aware of regarding credit card and debit card processing.
Let’s take a look at some of the key changes you should be taking advantage of.
Touchless Payment Systems
Cannabis Accessory Credit Card Processing Canada
Personal hygiene is always important but this year has shown how truly important cleanliness is during a global pandemic. As your customers put greater focus on health and safety, a big part of that is offering more payment options that steer us away from hand to hand transactions. Enter, wireless card readers and other varieties of touchless payment systems.
From card readers like Square to touchless payment options like ApplePay (amongst others), or even debit or credit cards, giving your customers the option to pay without touching a screen or cash has become hugely important for businesses of all types. If you only operate a marijuana accessory business online then you won’t need to worry about a touchless payment system, but for business owners with a physical location, this is a huge part of keeping your customers safe.
Stress-Reducing Businesses Booming
With the pandemic has come hardship, struggle, death, and stress for people, families, and governments across the globe. Despite that hardship certain types of businesses have increased their revenues during this time. Businesses selling products like alcohol, cannabis, and CBD all saw an increase in their sales and revenue. As we all experience greater and greater “pandemic fatigue”, the popularity of these items will only increase.
See our article on Selling CBD in Canada
Best Cannabis Merchant Services in Canada
But like most market changes, the regulatory and banking systems in Canada have been playing catch up when it comes to helping cannabis and CBD businesses take sales transactions. Where banks used to look at these businesses as illegal or “high-risk”, that is no longer the case. If you operate a marijuana dispensary, a cannabis accessory business, CBD retail store, or cannabis-related e-commerce website, banks and merchant services now look at you like any other business out there (just selling different products).
But knowing who to work with when it comes to your credit card and debit card processing isn’t always that straight forward. Large firms or bank operated merchant services have all sorts of drawbacks and flaws when it comes to helping Cannabis-based businesses. Firsts of all, with large agencies you are just an account number where no one knows the ins and outs of your business or even your name.
Secondly, are you sure you’re getting the best possible rate for processing transactions? Third, are you getting direct deposit within one business day? There are many more important questions to consider when looking at who you use for taking sales. If you’re being looked at any differently than any other business, you’re working with the wrong Canadian CBD merchant service.
Who to Hire for Cannabis Accessory Merchant Services
Working with a non-Canadian company will not be good. Working with a large agency will not be good either. You should be looking to work with merchant services who are investors in the Cannabis industry, understand the specific need of cannabis-based businesses, and who are dedicated enough to know your name.
For the best in Cannabis Accessory Credit Card Processing Canada, look no further than over 15 years of local expertise here at BrotherProcessing.com We are investors in the Cannabis industry and are local, right here in the great city of Montreal. Call today and speak with Stuart to discuss how we can improve your rates today.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
