Dispensary Credit Card Processing

A dispensary requires a high risk merchant account because of the changing legal landscape associated with their product line. Moreover, state regulations and federal laws often have conflicting information which makes certain banks reluctant to board businesses in this burgeoning vertical. 

Nonetheless, Zen Payments can help you find a way to accept payments for your cannabis business. There are many different ways to go about accepting payments, and they depend on a number of factors. 

• Retail vs Online Store – Retail shops are limited to where they sell their products while online stores that sell across the country may incur different regulations
  
  
• Type of Product – From ingestibles and smokeables to hemp clothing and THC honey, there is a wide range of policy for each type of business. A dispensary merchant solution will help guide you through the application process and tell you how to go about next steps.
  
  
• Size and Number of Locations – The larger the store and more locations, the lower your risk profile. When applying, be sure to share all of the information regarding each physical location to get a better understanding of what’s available
  
  
• History – How long have you been in business? This dictates your ability to consistently process payments. Moreover, if you show you’re making increased revenue over time, you can negotiate for lower processing fees. 

Dispensaries can have many meanings. Originally, dispensaries were a location that gave out medicines, elixirs, and tinctures, synonymous with an apothecary. Similarly, modern dispensaries sell alternative medicine and have different ways of distributing products. For the most part, a dispensary sells cannabis products usually to individuals with medical marijuana cards. Alternatively, in states where recreational marijuana is legalized, they sell to customers that meet the age requirement.