Internet Merchant Accounts For Medical Marijuana? Not Yet

Few people are unaware of the fact that the sale of medical marijuana is now legal in a number of states and in Washington, D.C. itself. marihuana kaufen online This turn of events was heralded as a disaster by some, “about time” by others, and with mixed emotions by more than a few. Still, as legal businesses, medical marijuana dispensaries have a legitimate need to process credit cards in their stores – but what about the Internet? Merchant accounts are not going to provide those services just yet.

One State’s Story

In Colorado, where medical marijuana sales were recently legalized, over 1000 dispensaries have opened. Fully 20 percent of the owners of such shops have felony convictions and the State is scrambling to shut down such vendors. In fact, not long after medical marijuana became legal, nearly 100,000 people registered as users, making the need for reliable credit card processing clear to dispensary owners.

It’s Still Illegal Online

Perhaps because marijuana is not legal in all states and is still considered illegal by the Federal government, purchasing it online is still forbidden. In California, activists are pushing to get a measure on the ballot in the 2010 elections, which will help take medical marijuana sales online. This measure will legalize recreational use as well and allow the state to tax the sale of any marijuana based product – a potential windfall for the financially struggling state. If this measure passes, it is likely that Internet sales will quickly follow. That will provide a new niche for merchant account firms as well as business owners.

The Advantages of Accepting Credit Cards

For a dispensary owner, the benefits of taking plastic are clear. On the most basic level, dispensaries are usually located in less than desirable areas of town and the less cash held on the premises, the better. Additionally, accepting credit cards ensures that payment has actually been made. Finally, it is much easier to track sales, anticipate trends, and ensure that your business has sufficient funds available for purchasing new stock if you know that your money will be in your account promptly.

While you can’t sell medical marijuana online yet, it is likely that if California’s measure passes and the State starts taxing sales, that other states will follow soon after. The move to Internet sales won’t be far behind and having a merchant account that is ready to take you online will let you get there ahead of the pack.

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