We’ve blogged ad nauseam about the dire need for proper cannabis merchant accounts and banking, an issue that needs to be rectified. But it’s only one of a handful of big hurdles that retail cannabis merchants face when establishing a business in one of the legal states. As our hub is located in Portsmouth, N.H.,…
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Satabank Freeze in Malta Shows Perils of High Risk Global Credit Card Processing
We’ve had our suspicions that global credit card processing for high risk businesses is slowly becoming more difficult, with banks increasingly firming up KYC requirements and digging deeper into merchant processing histories. Acquiring banks’ collective tolerance for risk simply isn’t what it used to be. We recently read several news items regarding the freeze of…
4 Movements Pushing for Legitimate Cannabis Banking Services
Having traveled to the MJBizCon 2018 tradeshow and convention in Las Vegas recently, arguably the most pressing issue was the dire need for proper cannabis banking services and resources, like any other legal and legitimate business. It is well known that most legal cannabis dispensaries are relegated to straight cash payments, since any U.S. banks…
Why dispensary merchant accounts are a matter of ‘when,’ not ‘if’
It was difficult not to be optimistic about the possibilities for cannabis payments at MJBizCon 2018 in Las Vegas two weeks ago, particularly for merchant services providers anxious for the opportunity to offer dispensary merchant accounts. Recent events indicate the U.S. is moving (albeit slowly) in the same direction as Canada as far as legalization…
Here’s why The STATES Act needs to pass, not just for cannabis payment processors…for everyone
It’s a frustrating time for cannabis payment processors. We were among several at the Marijuana Business MJBizCon expo two weeks in Las Vegas. But it is also a very, very exciting time for those who wish to process payments for cannabis businesses, especially here in New England where Massachusetts (the home of several Instabill staffers)…
The Cannabis Payment Processing Experience in a Legal Dispensary
We were among the 27,000 professionals to attend MJBizCon 2018 in Las Vegas last week because, like many payments companies, the good folks at Instabill are hopeful of providing cannabis payment processing in the near future. For us, it was on the cab ride from McCarran Airport to the Las Vegas Convention Center that the…
Cannabis Merchant Services Could Happen Soon in These 4 Nations
It’s been one month since Canada has legalized cannabis for recreational use and cannabis merchant services are in full effect. It is so wildly popular that dispensaries — medical and recreational — can’t meet the demand. Consumers are paying for product via credit card, debit card, and of course, cash. Other than the shortage of…
The Merchant Services Repercussions of the FDA E-Cigarette Flavor Ban
Online merchant services for e-cigarettes could possibly get a big boost if the US Food and Drug Administration gets its way (and it usually does). In an effort to halt vaping prevalent among minors, the FDA is gearing to ban sales of most flavored e-cigarettes in convenience stores and fueling stations in the US. The…
More E-Commerce Merchants are Using ACH Processing – Here’s the Proof
NACHA, the governing body of the Automated Clearinghouse (ACH), released third quarter figures this week on the use of ACH processing. We’re not the least bit surprised that ACH popularity continues to significantly increase, and we’re frankly thrilled more and more merchants are taking advantage of same-day ACH. Among the highlights: ACH usage grew 6.7…