Solution for Millions of Cannabis Consumers Who Want To Pay for Products with a Credit or Debit Card
February 11, 2022
5 tips From a CEO on how medical and recreation cannabis merchants can obtain payment processing for in-store purchases, deliveries and curbside pickup.
“Every month 14 million consumers search online for a cannabis dispensary that takes credit or debit cards,” said Catherine M. Zito, CEO of Cannabis Business Solutions, Inc. It’s a good problem to have with 48 out of 50 states now allowing for some form of medical cannabis and 20 states legal for adult-use.
Projected sales to reach $16 - $25 billion dollars by 2025.
A speaker at the 2021 Medical Cannabis Conference and Expo in Naples, Florida, Catherine Zito shared with attendees that U.S. sales for medical marijuana is projected to reach over 16 billion dollars and recreation cannabis to over 25 billion dollars by 2025.
“Numerous banks and processors have been shut down for trying to be cannabis friendly and hundreds of merchant accounts have been closed without notice,” said Zito. It’s no surprise, that consumers want to buy cannabis products just like they do any other natural supplement for pain, anxiety, inflammation, relaxation and sleep. Research shows that every month there are 68 million consumers searching for the daytime strain sativa and over 40 million searches for the nighttime strain known as indica.
A reputable referral can help you receive good rates and account approval.
“After seven years in the industry, we’re now partnering with several U.S. banks and processors who will approve payment processing for CBD, hemp, Delta 8, medical and recreation cannabis merchants,” said Zito. It’s hard to believe you still have to know someone in the business, but that’s how it works right now. Merchants who are referred by a reputable source like our company, have a better chance of receiving reasonable rates and account approval.
5 tips on how a cannabis merchant can apply to receive credit and debit card processing approval.
1. Don’t take anything personal. This is business so keep your thoughts focused on your ultimate goal of receiving payment processing. If you’re asked to make a content change on your website, do it and don’t argue about it. These are conservative financial establishments that follow strict state and government guidelines. If not compliant with the law, their business can be heavily fined or closed.
5 tips on how a cannabis merchant can apply to receive credit and debit card processing approval.
1. Don’t take anything personal. This is business so keep your thoughts focused on your ultimate goal of receiving payment processing. If you’re asked to make a content change on your website, do it and don’t argue about it. These are conservative financial establishments that follow strict state and government guidelines. If not compliant with the law, their business can be heavily fined or closed.
2. Get your website ready. It’s the first place a bank or processor will look for a certificate of analysis (COA) on each product page or listed on one dedicated page. Remove all claims and words such as anxiety and pain relief. It’s okay to show an image of a person with a medical condition, but it’s best to avoid placing words on the image or in the description. We understand you want to educate consumers about your products, so we recommend doing so through email, print or in person. Remember to add a disclaimer stating that your brand does not make claims to cure any medical condition.
3. Have these documents in hand. The payment processing application is completed online. Be ready to upload a valid driver’s license, social security number, LLC or Inc. document and a copy of any transactions including cash, PayPal, Square or other pay app. Screenshots or pictures of documents will not be accepted.
In addition, you'll need a bank account in the name of your business.
4. Proof of business location. You may receive a surprise visit from a representative from the bank or processing office to validate your business location. They don't make appointments nor announce themselves. If you run a clean business you won’t have any problems.
5. Be Transparent. Regardless of ownership percentage or involvement, all partners’ information is required on the application.
A medical marijuana dispensary can apply for retail debit card payment processing, but not for online ecommerce transactions. Although this is how it is now, rules can change so it’s a good idea to check in with your processor every 4-6 months. A CBD, hemp, Delta 8 or ancillary business can apply for both credit and debit card processing for in-store and online payments. Rates can range from 3.0%-3.5% per transaction.
For more information or a free consultation visit CBScannabis.com
A medical marijuana dispensary can apply for retail debit card payment processing, but not for online ecommerce transactions. Although this is how it is now, rules can change so it’s a good idea to check in with your processor every 4-6 months. A CBD, hemp, Delta 8 or ancillary business can apply for both credit and debit card processing for in-store and online payments. Rates can range from 3.0%-3.5% per transaction.
For more information or a free consultation visit CBScannabis.com
FREE Tickets to Alternative Products Expo Miami! Join hemp and cannabis enthusiasts at the Alt Pro Expo, the ultimate trade show, April 3-5, 2025, at Mana Wynwood Convention Center in Miami, FL. Connect with top brands, buyers, and industry leaders in the premier smoke shop scene while exploring the latest innovations in counterculture products. Take advantage of exclusive show discounts, expand your network, and gain valuable industry insights. Register now for your free tickets! https://www.meetup.com/cannabis-entrepreneurs-investors/events/306173027/?eventOrigin=group_upcoming_events
Finding a reliable, cannabis compliant payment processor is crucial. While Square, CanPay, and Dutchie are an option, they fall short for cannabis businesses. Cannabis Business Solutions (CBS) offers compliant, profitable and seamless solutions. No application fee. Free consultation. and introductory equipment specials. CBScannabis.com
Explore a safer alternative for payment processing in the cannabis and hemp industry. Say goodbye to the risks and unreliability of non-compliant providers like Dutchie, Square, or PayPal, which can freeze your funds without notice. At Cannabis Business Solutions, we offer reliable, fully compliant payment solutions tailored for cannabis and hemp businesses, backed by live customer support—even on weekends. Plus, benefit from free referrals to trusted cannabis-friendly banks nationwide!
Discover how Cannabis Business Solutions offers a superior payment processing experience for dispensaries compared to Dutchie's Plaid system. With purpose-built reliability, real cannabis compliance, and faster transaction times, our debit option minimizes failures and enhances customer satisfaction. Experience a seamless checkout process that boosts sales and customer loyalty. Try us risk-free for 60 days and see the difference! For more information, visit CBScannabis.com.
FREE Tickets to Alternative Products Expo Miami! Join hemp and cannabis enthusiasts at the Alt Pro Expo, the ultimate trade show, April 3-5, 2025, at Mana Wynwood Convention Center in Miami, FL. Connect with top brands, buyers, and industry leaders in the premier smoke shop scene while exploring the latest innovations in counterculture products. Take advantage of exclusive show discounts, expand your network, and gain valuable industry insights. Register now for your free tickets! https://www.meetup.com/cannabis-entrepreneurs-investors/events/306173027/?eventOrigin=group_upcoming_events
Finding a reliable, cannabis compliant payment processor is crucial. While Square, CanPay, and Dutchie are an option, they fall short for cannabis businesses. Cannabis Business Solutions (CBS) offers compliant, profitable and seamless solutions. No application fee. Free consultation. and introductory equipment specials. CBScannabis.com
Explore a safer alternative for payment processing in the cannabis and hemp industry. Say goodbye to the risks and unreliability of non-compliant providers like Dutchie, Square, or PayPal, which can freeze your funds without notice. At Cannabis Business Solutions, we offer reliable, fully compliant payment solutions tailored for cannabis and hemp businesses, backed by live customer support—even on weekends. Plus, benefit from free referrals to trusted cannabis-friendly banks nationwide!
Discover how Cannabis Business Solutions offers a superior payment processing experience for dispensaries compared to Dutchie's Plaid system. With purpose-built reliability, real cannabis compliance, and faster transaction times, our debit option minimizes failures and enhances customer satisfaction. Experience a seamless checkout process that boosts sales and customer loyalty. Try us risk-free for 60 days and see the difference! For more information, visit CBScannabis.com.
Florida is on track to become the nation's largest marijuana market! Join 200 attendees, sponsors, and vendors, for this exciting networking and educational event. Industry leaders will discuss key topics; 22 new MMTC licenses, cannabis rescheduling to Class III, the SAFE Banking Act, MMTC mergers, and the Amendment 3 adult-use initiative. Don't miss this opportunity to grow your business in the expanding cannabis market! What - The Future of Adult Use and Medical Marijuana in Florida When - Monday, January 13, 2025 from 7:30am-5:00pm. Where - Donald L. Tucker Civic Center. 505 W Pensacola St, Tallahassee, FL 32301 Host - Medical Marijuana Business Association of Florida Meetup - Stop by the Cannabis Business Solutions booth and meet your Meetup host, Catherine Zito, along with Scott Curtis, COO of First Port City Bank. More info - Cannabis Entrepreneurs and Investors Networking Group Ticket Special - Receive $25 any ticket with discount code: CBSINC . General admission inc. breakfast, lunch, speakers and networking. $275 p.p. Non-Profits $200 p.p. Register today !
Looking for safe, compliant banking for your cannabis business? At Cannabis Business Solutions, Inc., we offer free introductions to over 60 privately held cannabis-friendly banks. Whether you're running a medical dispensary or adult-use cannabis retail business, we can connect you with secure financial services to ensure long-term success. Learn more at cbscannabis.com.
CBD-Infused Beverages for in-store retailers and ecommerce businesses. Catherine Zito, CEO of Cannabis Business Solutions shares about the trends, consumers, payment processing and sales projections.
The growing hemp and cannabis business faces some tricky issues when it comes to getting paid. But don't worry! Cannabis Business Solutions offers a straight forward approach to make the application process simple and smooth. CBS helps hemp, Delta, medical and recreational cannabis and related businesses with easy and efficient payment processing, whether you're selling in stores, online or mobile. Nobody likes the stress of their credit card account or bank suddenly closing for no reason. Catherine Zito, CEO of Cannabis Business Solutions, Inc. and the organizer of the three largest U.S. hemp and cannabis networking groups with over 6,000 members says this issue happens too often. Starting a business can be overwhelming, especially with payments. But a good payment processor should handle all the complicated items, like compliancy, keeping customers data safe, and offering an alternative to cash transactions. This is crucial, as relying solely on cash can expose staff and the business to the risk of theft. A hemp or cannabis friendly bank is required before making an application for merchant credit card processing. CBS works with over 60 banks and credit unions across the country. “Our job is to find the perfect fit for each merchant and give competitive rates to make sure they make the most money,” says Catherine Zito. Banks aren't all the same, so our good relationships make it easy for businesses to find a bank and apply for merchant processing without any fees or long contracts. We're here to give special help that fits each business's needs. We strongly advise seeking out a reliable individual or company to assist you with payment processing in the ever-evolving cannabis and hemp industry. For more information or to schedule a complimentary consultation, visit CBScannabis.com .
Join us for our highly anticipated 100th Ultimate Networking Party and network with 150 guests. This event is an exceptional opportunity for B2B and B2C professionals to connect with industry elites. Forge valuable connections, explore limitless possibilities, and elevate your business.
Experience the vibrant atmosphere of The CURRENT Hotel, Marriott Autograph Collection with complimentary valet parking. This will be a sell-out event; secure your tickets today and gain access to this exclusive networking event.
Cannabis Business Solutions (CBS) as the superior alternative, offers merchants safe compliance, lower rates, exceptional customer service, and the freedom to switch processors at any time. CBS spends time with merchants to learn about their goals and needs including retail, ecommerce and mobile processing for hemp and cannabis businesses.