Even though legal markets for marijuana continue to grow, it is estimated that 70 percent of the marijuana transactions “run on cash”. Hence, many cannabis vendors have to bear the hardships of conducting businesses with cash transactions that are risky and unsafe. Some states have legalized marijuana, and it is just a matter of time until all states follow suit. This move would help in the movement forward of the cannabis industry. In the meantime, cannabis vendors are left to deal with a cash problem.
Merchant Club of America works with many cannabis vendors and we understand how complicated it can be to store, carry or deal with cash. In addition to safety issues, it is complicated to track transactions, pay taxes or simply process payroll and pay your employees while using cash transactions.
For that specific reason Merchant Club of America has created, and is now launching, a solution that now allows dispensaries to take credit cards through our unique proprietary solution.
To eliminate cash-handling problems, in addition to the already popular pin-based debit processing, Merchant Club of America has launched a new Credit Card Processing Solution. Cannabis vendors are now empowered to accept swiped Visa, MasterCard, and Discover credit card transactions through our PAX A920 terminal solution. Dispensaries can take advantage of the our new Credit Car Payment Solution without pre-registered bank accounts or credit cards.
Merchant Club of America Credit Card Payment Solution is not an online program; the processing is done through the actual terminal. Here are some features and benefits of the new flexible and secure PAX A920 terminal:
Exceptional Stability and Reliability
Flexible and secure Android-powered platform
Multiple connectivity: 4G / 3G / WiFi / Bluetooth
High capacity 5250mAH Li-ion rechargeable battery
Dual camera, 1D & 2D Scanner
Illuminated card reader
Built-in NFC contactless
5-Volt Charging Port
Large 5-inch capacitive color touchscreen
Supports electronic signature capture
High definition 1280 x 720 pixels
Sleek & fashionable
PCI PTS 5.x certified
Supports RSA, AES, 3DES
Merchant Club of America accepts all dispensaries and funds the cannabis vendors within 48 to 72 hours. No reserves are required by the bank. Would you like to find out how we make this possible? Contact Merchant Club of America today for info, pricing and set up. Just fill out the form below and one of our representatives will contact you shortly.
This blog is created and managed by DS&P
“How a Maryland bank is quietly solving the marijuana industry’s cash problem” by Aaron Gregg on washingtonpost.com. Posted on 1/2018, accessed on 5/30/2018