Many processing companies will not even touch the controversial practice of cannabis usage leaving dispensaries without the most common form of modern payment: credit card and debit card usage. While it may seem difficult to find a site to create a dispensaries merchant account, it can be as simple as looking in the right place. Finding a processor without high fees or hoops to jump through can be difficult, so here are a few questions to ask potential processors you may be working with:
Ask About Rates
Most processing companies charge a percentage plus a flat rate, as well as a monthly fee. It is important to consider all of these factors when choosing a processing company. When inquiring about the company, look for rates less than 2% plus $0.30. This is where most of the expense comes from, and a monthly fee of less than $50 is generally acceptable depending on the company’s size. This rate of 2% can fluctuate depending on the industry, but it is absolutely possible to find a rate this low even within the high-risk industry of cannabis sales.
Ask About Business Services
Different processing services are tailored to different types of sales. Since cannabis sales are a very unique type of sale, it is essential that you find a processing service that works well with your product. Cannabis is an age restricted, sometimes even medically restricted substance that requires a lot of checks before the product is sold. Finding a service that will adjust according to the needs of your business is essential to form a flawless, fluid system for sales. Having a POS personalized to the type of business ensures a good, fast experience for the customer and a safe experience for the business.
See What Else They Can Offer You
Just because the business is in a high-risk field doesn’t mean that the business has to settle for a low providing offer. It is absolutely possible to find a processor that offers all the services you need and more at an acceptable rate. Finding a reliable company with great customer service and tons of options for rates and setups is absolutely possible. It’s important to take the time to search options and find a processing service that best fits the business needs and budget.