Merchant Accounts for Dispensaries now offered in California and Colorado

[Payaso]

Credit card payments, and ATMs in medical dispensaries make it much more convenient for the patient to obtain safe access.

Cannabis Medical Solutions Inc. (OTCBB:CMSI - News), a leading company specializing in both brick-and-mortar and online merchant payment solutions and financial security products for medical marijuana dispensaries and high-risk merchant accounts and services, today announced the signing of an exclusive agreement with Specialized Payment Solutions Inc. of Colorado to provide merchant and financial services for up to thirty (30) medical marijuana dispensary clients throughout Colorado and California through its alliance partner network. Details of the agreement include that Specialized Payment Solutions will work with Cannabis Medical Solutions to provide banking, merchant and ATM services for existing clients, which presently represent approximately 30 dispensaries. The accounts are expected to reach over $7,000,000 in gross processing volume over the next year.

"It is clear that CMSI is becoming the 'go to' source for banking and payment solutions within the medical marijuana space across the country. We have worked hard to enable our clients to partner with the proper banking institutions, who understand this business, and therefore accounts we set up are in fact set up as medical dispensaries, not wellness centers or the like. The fact that we look at these businesses as a pharmacy, with the ability to administer or distribute a controlled substance, we insure that the bank has all the necessary paperwork to make an intelligent decision for underwriting this business, and for the merchant, we are allowing the owners to take alternative forms of payment without the worry of having accounts shut down for miscoding and monies held," stated Michael Friedman for Cannabis Medical Solutions.

Full story is here.

 

[ijimunot]

I will find it kinda hard to use my ATM card at a business that historically been run by the underworld. Very easy for a ATM to store or transfer your card number and pin to say Russia or Somalia. They have some hurdles to jump to gain my trust.

 

[medmaker420]

I will find it kinda hard to use my ATM card at a business that historically been run by the underworld. Very easy for a ATM to store or transfer your card number and pin to say Russia or Somalia. They have some hurdles to jump to gain my trust.

lol underworld

who the fuck do you think we are?

 

[!!!]

Forget ATMs, this opens up a lot of possibilities. Dispensaries would be able to accept CCs, provide gift/prepaid cards, etc. What's important for this sort of business is to not have 6 figures sitting in a cash register.

 

[GangGreen]

in colorado this card swipe thing has led to many and i do say many credit scams..some shops had been busted for credit scam and buying cars and all kinds of other stuff with peoples credit info. best thing to do would to go in with cash but it clearly seems people are using the machines no matter.

 

[ijimunot]

Who da fuck are you. I been doing growing and smoking for 45 years. Half the dealers Ive dealt with don't give a shit about you or yours they only want whats in your pocket. And don't give a damn how they get in your pocket. And now they are going into the meds business. That is exactly why we need legalization so we can grow and bypass all the SOBS and corporate BS. And those that prey on the sick and dying can go back to what ever hole they climbed out of.

 

[BigNev]

I'm in the credit card industry, and would love to to set up accounts in Co. and Ca. their is no difference to VISA/MASTERCARD in dispensaries and the micky D's down the street. The scam started with ppl working there. Had the same scam last year at Foley's (bad people everywhere)