Cannabis dispensaries come in all different shapes and sizes. Here in Canada, If you live in or close to a First Nation reserve, you now have more options when you pay for marijuana at participating Indigenous dispensaries. Whether you’re looking for medicinal or recreational cannabis varieties, you can be sure you’ll get every payment option available today.
What is Interac?
Interac is a Canadian interbank network that connects financial institutions to businesses to take electronic sales transactions. In simple terms, Interac is a debit card processing system which allows merchants to accept debit card transaction for purchases. This is different than credit card merchant services as Interac operates only for debit card transactions.
Interac was one of the first financial organizations to work with companies within the Cannabis industry, even before recreational legalization. The fee structure is low and the time frames for direct deposit are low if you’re working with a dedicated Cannabis Interac merchant provider.
Is Interac Right for my Indigenous Cannabis Dispensary?
Yes. As technology becomes more prevalent in every aspect of our society we see that cash is becoming less and less popular for purchases. It is cumbersome, can be filthy, and even a hassle for customers if ATM locations are hard to come by. By offering debit-cards payments as an option to your customers, you provide more options for taking sales.
Not everyone carries cash at all times or if they do it is usually petty cash amounts. Considering Cannabis purchases for recreational and medical purposes can run upwards of a hundred dollars, allowing customers to pay via card is convenient for them and smart for you as a business.
Where Can I Get Started?
Not all merchant service providers are the same and many have no experience working with members of the Indigenous community. We are proud to be investors in the cannabis industry and have worked with various First Nation businesses for over a decade. If you operate a grow operation, medical dispensary, recreational dispensary, cannabis accessory store, or sell CBD; Interac is a great option to get started with today. (See our article on Selling Cannabis Accessories on Your Ecommerce Website)
Having more payment options for your customers is never a bad thing. Considering the low processing fees through Interac, it may be a better solution than credit cards and is also far more secure than cash (in terms of banking). Taking electronic transactions also protects you from the risk of having to make large cash deposits that carry their own risk from theft. No longer will you have to worry about carrying large amounts of cash from your store to the bank for deposits. You’ll still take some cash sales but with debit card transactions as an option, you’ll reduce your cash burden.
For the best Indigenous Cannabis Dispensary Merchant Services, look no further than right here at Brother Processing. We are investors in the Cannabis industry and have worked with First Nation businesses for over a decade. Call today for a consultation and see how we can make debit card processing a possibility today. 1-800-891-8965