Looking for Cannabis Related Business Merchant Account to Accept Credit Cards?
B.I.G. proudly supports the cannabis industry.
We would like to welcome you to the Bankcard International Group (BIG) family. B.I.G. is your go to provider of ancillary cannabis business merchant accounts. Banking regulations effect ancillary cannabis businesses and services just as much as plant touching cannabis businesses. Credit card processing services for ancillary cannabis merchants have been nearly impossible to attain, until now. B.I.G. proudly supports the cannabis industry and the legal businesses that drive the industry. If you are looking for a merchant account and have had trouble with shut-downs or been declined in the past, give us a call.
Request your ancillary services merchant account now. To get started simply reach out to us and we will get you everything you need to get started right away! We look forward to the opportunity to work with your cannabis related business for many years to come! Payment processing, done right.
Have you had trouble with your merchant account because you work with cannabis businesses?
Don't Worry.
Cannabis related businesses are often “guilty by association” when it comes to financial services. This is due to federal anti-money laundering law which requires that businesses deriving income from cannabis, plant touching or not, require enhanced reporting. These SARs (Suspicious Activity Reports) are required per BSA (Banking Secrecy Act) guidelines. They are designed to help combat money laundering. These regulations are overseen and enforced by FINCEN (Financial Crimes Enforcement Agency). This means that the majority of merchant service providers and banks are either not equipped to, or not willing to, work with the industry.
This has caused most payment platforms including Square, PayPal, BitPay, and any of the major processors (ie. Fiserve, Global, Elavon, etc.) to add “marijuana and marijuana related businesses” to their prohibited merchant list. These same regulatory requirements have caused problems with bank depository accounts for CRBs as well.
What is a Cannabis Related or Ancillary Cannabis Business?
The cannabis industry, just like any other industry, needs access to various supporting trades to conduct business. These are businesses that are growing along with the cannabis industry. They require fair access to bank and merchant services. Cannabis related businesses include:
- Cannabis lawyers
- Doctors that provide cannabis recommendations
- Cannabis Consultants
- Cannabis Trade show organizers
- Cannabis T-shirt makers
- Vaporizer manufacturers
- Cannabis web designers
- Cannabis Packaging companies
- Cannabis Trade show companies
- And more...
These businesses are called ancillary services to the cannabis industry and it can't survive without them. Many of these businesses have left their traditional clients to service, either exclusively or partially, the cannabis industry. As one of the fasted growing industries there is great demand for these services. However, most businesses that now derive all or part of their income from the cannabis industry did not realize that, that would cause banking and payment processing problems.
Not all High Risk Merchant Account Providers are the same.
Remember just because a sales office claims to be a “high risk merchant services provider” does not mean that they have the expertise you need. Providing stable and sustainable merchant accounts to cannabis related businesses requires expertise.
Don’t go through the frustration, time, and cost of establishing a “high risk merchant account” only to be shut down. Have funds frozen. And, be hung out to dry again. BIG has the expertise. We combine our experience with guaranteed rates and the five star service your business deserves.
If you are looking for a cannabis related merchant account to accept credit cards contact us. Experience the BIG difference. You’ll be glad you did. Remember it's not how big your payment processor is but how BIG YOU are with your merchant services provider.
How to get approved to accept credit cards at your cannabis related business.
At BIG we like to keep things straight forward and efficient for you. Activating your ancillary cannabis merchant account to accept credit cards couldn’t be easier:
- Reach out to us for the appropriate application for your business type.
- Submit the proper Supporting Documents.
- Let our expert underwriting team go to work for you to get you approved.
- Start accepting credit cards and doing what you do best - running your business!
We look forward to working with you and helping the cannabis industry grow!
