Cannabis and CBD processing
made easy with our payment solutions

The Controlled Substances Act of 1970 classified marijuana as a Schedule I controlled substance. The cannabis plant remains a federally illegal substance at the time of writing. As a consequence, banks that handle marijuana money can receive a money laundering charge. Therefore, when a company in our industry reaches out to a bank, rejection is inevitable. It makes things extremely tricky for cannabis firms. As they are restricted to cash, they become prime targets for thieves. An increasing number of organizations must spend six-figure sums annually on security for their money. With CannaPay, it doesn’t have to be that way! We offer cannabis credit card processing solutions that help take cash out of the equation.

Reduce Risk

Cannabis processing and harvesting are a lot easier than securing your finances! CannaPay offers marijuana payment solutions that help you conduct your monetary affairs like a ‘traditional’ enterprise. We have detailed knowledge of regulatory agencies and provide a legal and safe service to our customers. It isn’t unusual for a marijuana dispensary to earn $250,000+ per month. In a ‘normal’ situation, they could deposit it in a bank. Sadly, cannabis companies don’t have this luxury. Instead, they have to store the cash somewhere and pay their staff & bills. In this situation, a business can:

• Store the money in a safe on-site.
• Transfer it to a Federal Reserve Bank in an armored truck.
• Try to find a ‘safe’ hiding place and hope no one uncovers hundreds of thousands of dollars.

Alternatively, you can get in touch with CannaPay, and use our cannabis payment gateway to make life simpler. Imagine a situation where you can finally offload the cash safely and rest easy at night. Our cannabis merchant processing system is a simple 3-step process that takes 24-48 hours. It is quick and easy to install, and our trained and dedicated team of staff are on hand to help with any problems.

Marijuana Processing Made Simple

Marijuana processing payments don’t have to be a complicated affair. We have distilled the process into three easy steps:

1. Set Up an Account: Complete the form at the bottom of the page to quickly and easily set up an account with CannaPay. Next, we program your dispensary’s Point of Sales (POS) system to work with our payment gateway.
2. Accept Debit or Credit Cards: Your customers can pay for their purchases using a debit or credit card. CannaPay also provides a mobile credit card swiper so that you can accept payments on the move.
3. Payment Processing: You can process all card transactions via the POS integrated payment gateway. You will see the funds in your account within 24-48 hours.

Through this process, your marijuana dispensary is legally able to operate as a business in any other industry! You no longer need to accept cash only from customers, and you reduce the risk to your business with a single stroke of a credit or debit card. At present, cash-only dispensaries are prime targets for criminal gangs. With CannaPay, you reduce that threat by ensuring you don’t have tens of thousands of dollars in cash lying around.

The Dangers of Cash Payments

Processing marijuana payments with CannaPay removes a major headache for any cannabis dispensary. While matters have improved in recent years, the plight of dispensaries is a shocking one. According to research by the Wharton School of Business Public Policy Initiative in 2015, 50% of marijuana dispensaries were burglarized or robbed. On average, thieves walked away with between $20,000 and $50,000 each time. The American Bankers Association stated that between 2012 and 2016, Denver dispensaries accounted for 10% of all reported business burglaries. They made up less than 1% of all enterprises in the city! In the last few years, the advent of marijuana credit card processing has led to a steep decline in dispensary robberies. Unfortunately, cannabis businesses that still operate in cash retain a particular allure for prospective thieves. For example, a would-be burglar knows that if they try to rob the local 7-Eleven, they may get a few hundred bucks at best. If they set their sights on a cannabis dispensary, however, they could hit a jackpot of hundreds of thousands of dollars on a good day. Indeed, robbers get more money on average from a dispensary than they do from a bank, and at far less risk!