Few folks are unacquainted with the fact the sale of medical marijuana has become legal in numerous states and in Washington, D.C. itself. This turn of events was heralded as a problem by some, “about time” by others, and with mixed emotions by more than a few. Still, as legal businesses, medical marijuana dispensaries have the best need to process bank cards inside their stores – but what about the Internet? Merchant accounts aren’t going to offer those services just yet.
One State’s Story
In Colorado, where medical marijuana sales were recently legalized, over 1000 dispensaries have opened. Fully 20 percent of the owners of such shops have felony convictions and the State is scrambling to power down such vendors. In fact, not long after medical marijuana became legal, nearly 100,000 people registered as users, making the necessity for reliable charge card processing clear to dispensary owners.
It’s Still Illegal Online
Perhaps because marijuana is not legal in most states and is still considered illegal by the Federal government, purchasing it online is still forbidden. Marijuana for sale online In California, activists are pushing to get a measure on the ballot in the 2010 elections, which can help take medical marijuana sales online. This measure will legalize recreational use as well and allow their state to tax the sale of any marijuana based product – a potential windfall for the financially struggling state. If this measure passes, it is probable that Internet sales will quickly follow. That’ll give a new niche for merchant account firms as well as business owners.
The Benefits of Accepting Credit Cards
For a dispensary owner, the benefits of taking plastic are clear. On the absolute most basic level, dispensaries are generally located in less than desirable regions of town and the less cash held on the premises, the better. Additionally, accepting bank cards ensures that payment has actually been made. Finally, it is much easier to track sales, anticipate trends, and ensure that the business has sufficient funds readily available for purchasing new stock once you learn that the money will soon be in your account promptly.
While you can’t sell medical marijuana online yet, it is probable when California’s measure passes and the State starts taxing sales, that other states will follow soon after. The go on to Internet sales won’t be far behind and having a merchant account that is preparing to take you online allow you to make it ahead of the pack.