Reduce RiskCannabis 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.
Marijuana Processing Made SimpleMarijuana processing payments don’t have to be a complicated affair. We have distilled the process into three easy steps:
- 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.
- 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.
- 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.
The Dangers of Cash PaymentsProcessing 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!
- No hidden fees
- No setup fees
- No early termination fees
- Zero reserves
Processing cannabis payments is what we do, and we are one of the best in the industry! Our knowledge and experience in dealing with ‘high-risk’ transactions make us an ideal marijuana payment processing partner for your dispensary.
With five years of experience, hundreds of qualified staff, and thousands of satisfied customers, it is fair to say that CannaPay knows what is best for our clients! Here are four reasons to choose CannaPay.
Medical Cannabis and CBD Oils Payment Solutions
Marijuana Processing Companies
What To Look For?
The provider of your marijuana merchant account must have prior experience in handling high-risk transactions. Aside from 420 merchant solutions, other high-risk industries include:
- Online dating
- Bitcoin trading
- Online gaming
- E-cigarette and vaporizer companies
While we don’t have experience in those fields, we have worked as a marijuana processing company for five years. During that period, our team of over 200 staff has helped approximately 2,500 cannabis companies.
A Point of Sales system enables you to save time on administrative tasks and reduce the cost of in-office work. At CannaPay, we ensure that your POS system works with our payment gateway. At this point, you can handle online and offline transactions.
A sound POS system lets you see accurate reports and increase sales profitability. Other benefits include increased customer loyalty.
What do you do if a customer wants to issue a chargeback on a submitted order? If you don’t know how to handle these issues, it is too easy to lose customers. Fortunately, you can get in touch with the CannaPay team 24/7. We are there to assist you with matters great or small. We recognize that your time is precious, so we won’t leave you waiting too long for a solution!
We pride ourselves on providing personalized service to ensure long-term partnerships with our clients. Also, we are there if you have any technical issues. After all, the system isn’t much use if you are not able to use it!
For a Merchant Account?