{"id":1543,"date":"2022-04-04T18:36:57","date_gmt":"2022-04-04T18:36:57","guid":{"rendered":"https:\/\/www.brotherprocessing.com\/?p=1543"},"modified":"2022-04-04T18:36:57","modified_gmt":"2022-04-04T18:36:57","slug":"licensed-cannabis-dispensary-credit-card-processing","status":"publish","type":"post","link":"https:\/\/www.brotherprocessing.com\/licensed-cannabis-dispensary-credit-card-processing\/","title":{"rendered":"Licensed Cannabis Dispensary Credit Card Processing"},"content":{"rendered":"

The Cannabis industry is growing at incredible rates across Canada and the USA. The number of Cannabis production and dispensary license applications in Canada has doubled in the last six months alone. This means that more and more players are trying to take advantage of the growing market than ever before. Regulatory changes now allow Licensed Canadaian Cannabis Dispensaries to accept credit card transactions for the first time. This is a major shift away from cash-only and debit-only sales.\u00a0<\/span><\/p>\n

Credit Cards are Back on the Menu<\/span><\/h2>\n
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Cannabis Dispensary Credit Card Processing<\/p><\/div>\n

For years Cannabis dispensaries have been cut off from traditional banking services that all other companies enjoy. Sales were run via cash or debit cards through a “cashless ATM” system. In the USA it is still the case and will be until US federal legalization like in Canada. Debit card processing is not the same as taking credit card sales and limits businesses and customers in how they can pay for goods. Now with changes in banking regulations regarding the view of Cannabis businesses, credit cards are back on the menu<\/strong>.\u00a0<\/span><\/p>\n

This is great news for companies looking to make payment options easier for their customers.<\/strong> They no longer have to use cash for purchases or their debit card alone. Customers can now use their credit cards at dispensaries that have added credit card processing. Customers often prefer using a credit card because most have some sort of benefits like travel points or cash-back that cannot be used via a debit card.\u00a0<\/span><\/p>\n

Full Compliance is a Must<\/span><\/h2>\n

The Cannabis space has more regulations and legal requirements than a convenience store or a restaurant. It is more like a liquor store in terms of legal requirements needing to be met in order to stay compliant and legal as a business. Compliance is critical when looking for a cannabis payment processing company. A failure to comply with banking, sales, and insurance regulations can lead to huge fines or a cease and desist order from the government.<\/strong> Making sure you have federal and state (or territory) regulations in place is a must to keep your doors open. If you or your merchant service provider doesn’t keep in compliance with an ever-changing legal landscape, you could be forcibly shut down.\u00a0<\/span><\/p>\n

Benefits of Accepting Cannabis Credit Card Sales<\/a><\/span><\/h2>\n

For dispensaries, Cannabis accessory companies, farmers, and producers; using credit card sales is extremely beneficial. They offer better protection to the customer and convenience.<\/span><\/p>\n