Instabill offers medical marijuana merchant account solutions for licensed marijuana dispensaries, CEO Jason Field announced Apr. 30, 2014. With the legalization of marijuana for medicinal and recreational purposes in 25 states, acquiring banks are warming to the notion that it is an industry with tremendous earnings potential, one in which credit card processing is absolutely necessary.
Medical Marijuana Merchant Account Solutions With Instabill
Instabill offers an aggregate credit card processing solution through an international banking partner for licensed dispensaries in states where marijuana is legal for medical and recreational use.
Federal Government Stance on Medical Marijuana Merchant Account Solutions
The legalization of marijuana for medicinal and recreational purposes has resulted in licensed marijuana dispensaries sprouting all over the U.S., particularly in Colorado, Washington, Oregon and Alaska, which became the first states to legalize marijuana for recreational use.
Shortly after Colorado and Washington’s announcement in 2014, Visa announced in a statement to the Denver Post that “the federal government considers the sale of marijuana illegal but has announced that it will not challenge state laws that legalize and regulate marijuana sales. Given the federal government’s position and recognizing this is an evolving legal matter with different standards applicable in different states, our local merchant acquirers (banks) are best suited to make any determination about potential illegality.”
Instabill on the Forefront of Marijuana Processing Issue
With legalization in 25 states, medical or recreational, the issue of medical marijuana merchant accounts has been a regular subject among Instabill copywriters. It was a mere six weeks ago in which Instabill declared it was unable to process for marijuana businesses, though it rallied for acquiring banks to take the initiative.
A Medical Marijuana Merchant Account: Stop Processing in Cash
With a medical marijuana merchant account from Instabill, merchants can escape the monotony of predominantly cash payments and deposits and enjoy the convenience of our aggregate credit card processing solution. Instabill merchant account managers are available today at 1-800-314-2713.