Cannabis Merchant Services

The most common one that we run across is obvious, and it is being creative with the use by describing it as Tobacco Products or Health & Wellness Herbal Supplements and the like. We would never advise this and strongly recommend against it. It may work for a while bur inevitably he processing company will eventually find out the true use and when they do they will shut off the account without notice. In addition to leaving you without service they will also divert funds which means the balance of the money in your account will be held for six months to be used to pay for any chargebacks that may occur. They also can place you on the dreaded TMF or MATCH list, which is a national blacklist used by the payment processing industry which may prevent you from obtaining an account in the future.

All signals seem to indicate that in the future the cannabis industry will be more mainstream and owners will be able to choose from a variety of competitive solutions, but until then the options are limited. There are two key differences that separates us from other providers in this space. The first is we are a Full Disclosure Provider. The second is our solution is Bank Compliant.

FinTech is a full disclosure provider which simply means that we will not try to mask your business as anything other than what it is because we do not need to. When we decided to get into this space we decided that instead of trying to figure out a way to sidestep the federal banking laws and regulations, let’s focus on a solution that complies with them.

Even something as basic as opening a business bank account can be complicated for marijuana businesses. FinTech has partnerships with a network of national US banks that are able to open a business account for cannabis business owners and operators. We are pleased to pass on these referrals to our clients.

All businesses require working capital and financing in order to expand, and the cannabis industry is not an exception. Unfortunately it can be a grueling task given the banking laws discussed on this page. FinTech has a private money program designed specifically for this use. Click here to learn more.

Getting started with FinTech is very easy. We have a very simple application process and the best part about our program is there are no out of pocket cost at all to get set up. We provide you everything you need to accept cashless payments, if for any reason you decide that the program is not a good fit for your business you can simply cancel it at any time. Other dispensaries have seen up to a 42% increase in sales and higher ticket sizes with our solution.