Every business deserves fair and equitable access to payment processing and other financial services. But not all payment processing solutions fit the unique needs of cannabis businesses. Here are some important considerations that can help evaluate payment processing solutions for marijuana dispensaries and other businesses selling cannabis and related products and services. The solution should:
1. Be fully compliant with federal and state laws and regulations around cannabis sales.
2. Readily integrate with your company’s point-of-sale software.
3. Support a variety of payment options, as well as payment-related tools like risk monitoring and chargeback prevention.
4. Support eCommerce order-placement and payments, even if the business is not yet accepting online orders or payments.
5. Integrate seamlessly with backend systems, including marketing systems.
6. Come with excellent customer support. Oftentimes, a payment processing company will promise good support when pitching a deal, but post-sale support can be lacking. Ask the solution provider for references, and check them out!