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Searching for Compliant Cannabis Payment Processing?

Bankcard International Group is your trusted leader in Cannabis Merchant Accounts.

We offer the industry's first fully transparent and compliant cannabis payment processing merchant account.  True PIN Debit (NOT Cashless ATM) and eCheck services that are 100% compliant and transparent.  Our Bank and Processor have worked with federal auditors to create the first traditional card processing solution for the industry.  Both the bank and the processor are fully disclosed on our application - GET STARTED TODAY!  Empower your business to accept card payments for cannabis now and be ready to accept credit cards with the flip of a switch upon federal change.

For the sustainability of the industry and your business we offer only proven, legitimate, and compliant cannabis payment solutions.  Want to know more about the State of Cannabis Payment Services in 2021?  Visit our comprehensive page

True PIN Debit 

Allow your customers to pay for cannabis just like they do anywhere else throughout the day.

Rebranded PIN Debit

Unfortunately, until there is change at a federal level, accepting credit cards for cannabis, either directly or indirectly, is still strictly against Federal and Card Brand laws.  True debit, however, allows for customers to safely purchase their cannabis with their debit cards.  Just like going to the grocery store your customers can now purchase cannabis with their debit card.  This is NOT a cashless ATM solution. 

Our true PIN Debit provides legitimate payment processing with a cannabis merchant account with full bank and processor disclosure. 

Our cannabis merchant accounts offer some distinct advantages over cashless ATM accounts:

  • Why PIN Debit is the best option for cannabis payment processingTransactions are for exact dollar amounts which means
    • NO cash handling
    • Less Confusion, costly mistakes, and access to cash
    • NO need for drivers to carry any money
  • Your Customers will NOT be billed for “Out of Network” fees which will make them happy!
  • Fully endorsed and approved by the debit networks
  • Sales have proven to increase by 25%+ with PIN Debit solutions!
  • Costs less than cash handling and transportation fees!
  • Full Bank and Processor Disclosure
  • Accurate descriptors with your correct DBA and address on receipts and bank settlement reports
  • NO Convenience fees
  • NO Checkout confusion
  • Credit card ready when there is federal change - be the first to accept credit cards by not having to apply for a new account.
GET PIN DEBIT TODAY

We proudly bring the first traditional payment processing solution to the industry, true PIN Debit.  Cashless ATM convenience fees and customer confusion are a thing of the past.  We have worked diligently with the card brands and our banking partner to create a truly compliant and fully transparent PIN debit solution.  Now your customers can have a familiar checkout process when purchasing from your dispensary or delivery.

Solution highlights:

True PIN Debit cannabis payment processing is NOT the same as a cashless ATM....Learn More
  • NO Convenience fee
  • NO Rounding up
  • NO Checkout Confusion
  • NO Out of network fees
  • True DBA and Service address descriptors
  • Low Interchange Plus pricing
  • Fully endorsed by the sponsor bank and the card brands
  • PCI Compliant
  • NO Application Fee
  • No Contract

How does a Cannabis a PIN Debit Merchant Account Work?

Simple.  Just like going to the grocery store or any other business for that matter.  A consumer can walk into your dispensary, select their products, and pay the exact amount owed with a simple swipe, dip or tap.

No confusing explanations about round ups.  No convenience fees.  Just a simple, fast, and familiar purchasing process.

How is PIN Debit Different than Cashless ATM?

True PIN Debit payment processing for cannabis businessesMany people think PIN Debit and Cashless ATMs for cannabis payments are the same.  This is not true.  PIN Debit transactions and ATM transactions are processed differently.

With PIN Debit for cannabis a consumer can make a cannabis purchase for the exact dollar amount of the product.  The transaction is processed using the interchange network just like a credit card.  Authorizations and funding are done through a traditional merchant account.

This is different than a cashless ATM.  With cashless ATM accounts for cannabis the credit card terminal is simply programmed to act like an ATM.  When a customer makes a purchase the transaction is rounded up to the nearest $5-20 (just like an ATM).  The difference is that instead of cash being dispensed the customer is provided a receipt for their purchase.  Then the budtender provides change for the difference.  This process is often confusing and expensive for your customers.

Create a frictionless payment environment with no consumer fees to increase sales and safety.  Get your cannabis PIN Debit merchant account today and sell more tomorrow.  Reach out to us for full product features, costs, and bank information today.

GET PIN DEBIT TODAY

How do I accept card payments for cannabis?

It could not be easier, when a customer walks to the POS with their budtender.  The budtender simply rings up the purchase and puts the sales amount into the terminal.  Unless our solution it is already integrated with your chosen POS in which case the POS will populate the sales amount in the terminal.  The customer then swipes, dips, or taps their debit card and enters their PIN.  Then the sale is approved (or declined if there is insufficient funds) and the customer leaves with their purchase.

Accepting card payments for cannabis is now just like going to the grocery store.

No need for cash to exchange hands or convenience fees to be explained.

How to get approved for a cannabis PIN debit merchant account

Its Simple!

True cannabis merchant accounts to accept card payments.  Cannabis payment processing, now legitimate.Although our cannabis payment processing solution does add some paperwork to the process, we've done everything we can to make it easy.  Working with B.I.G. gives you instant access to the industry's most experienced and knowledgeable team there is.

Below is a checklist of items and supporting documents that your business will need.  However, one of the most important things you MUST have is a compliant business bank account.  This makes sense because one bank cannot send money to another bank for cannabis related transactions without both entities being fully aware.  If you don't have a transparent bank account, it is not the end of the world!  Give us a call, we can help.  

Here is a list of supporting documents that you will be required to provide for your cannabis merchant account:

  • Completed Cannabis Merchant Account Pre Application
  • Executed Personal Guarantee (when required)
  • Executed Attestation Disclosure - Provides the bank with permission to contact your bank and confirm that your DDA is transparent and that they have BSA/AML program in place for cannabis
  • Executed eSigned Merchant Agreement
  • Imprinted voided check or bank letter (temporary checks are unacceptable; Checks that are preprinted by the Merchant are unacceptable)
  • If you are providing a bank letter, it must include the following:
    • Bank letterhead with current date
    • Legal business name and Doing Business As (DBA), if applicable
    • Bank Account Number (DDA) and Routing Number (ABA)
    • Type of Bank Account (Must be a checking account)
    • Bank representative name, signature, branch location and phone number
  • 3 Months most recent processing statements (if applicable)
  • Articles of Incorporation/Organization or Doing Business As (DBA) filing for sole proprietorship
  • Marijuana Related Business (MRB) license
  • Driver’s license of each Beneficial Owner with 15% or more of equity interest and Authorized Signer(copy of front and back)

Due to the enhanced compliance of boarding compliant cannabis merchant accounts the time to get approved is about 10 business days.  Once approved your terminal will injected with the bank's encryption keys and shipped out right away.  If you already have terminals at your location and they are supported by the processing platform we can inject your existing terminal with new programming so there is no need to purchase new equipment!

GET PIN DEBIT TODAY

How is Our Cannabis Merchant Account Compliant?

Legitimate Transparency

What do we mean by legitimate transparency? As with everything in the industry, cannabis payment processing is a complex subject that takes special consideration.   We believe the best path to blaze the industry forward is the path of legitimacy NOT creating workarounds.

Our sponsor bank worked with their internal BSA/AML team and their federal regulators to create a compliant flow of transaction data.  This allows them to cannabis merchant accounts in full transparency.  Furthermore, they are able to abide by or exceed the guidance established by the federal agencies. 

The acquirer and the sponsor bank have worked together to make sure that funds from card transactions never enter any financial institution or system, within the payment process, that are not aware of the source of the funds.  This process includes verifying that the merchant's depository bank has a compliant cannabis AML/BSA policy.  They will also verify that the depository bank knows that the merchant is a cannabis or cannabis related business.

These extra steps have been analyzed, audited, and approved by federal regulators.  By initiating and monitoring this level of transactional transparency we are able to offer the first fully compliant cannabis merchant accounts.

With a B.I.G. Cannabis Merchant Account You will Appreciate:

  • Fully compliant cannabis payment processing
  • Full Bank and Processor Disclosure
  • "First in Line" credit card processing 
  • Outstanding Service
  • Increased Profits
  • Higher transaction sale amounts

Why did your cannabis payment processing get shut down in the first place? 

Why is it so difficult to accept credit cards for cannabis?

Cannabis merchant account shut down?  Here's why and what you can do about it.After all these years, the cannabis industry is still the wild-wild west.  Being state legal but illegal federally and sometimes even at the municipal level has created challenges.  We know, we don’t need to tell you this. However, it is important to remember because most of the U.S. monetary rails are overseen by the Feds.  In essence this means that transferring credit card payments for cannabis on federally enforced channels is illegal.  Until there is federal regulation there will not be legal merchant services available. 

Think of a credit card purchase as a mini loan.  This "loan" must be supported by the card issuing bank.  If that bank is restricted from working with cannabis then they cannot provide funding for the purchase of cannabis.  This is true for the acquiring bank as well - this is the bank that actually funds a merchant's credit card transactions. Thus, the true nature of the transaction would have to be "hidden" from the card issuing bank and the acquirer.  Which, of course, is illegal and can constitute bank fraud and or money laundering.

Albeit possible to work with cannabis businesses on a banking level with proper SARs reporting.  SARs (suspicious activity reporting) were put into place with the BSA (banking secrecy act).  These reports and their results are enforced by FinCEN (financial crimes enforcement network). 

This, however, does NOT apply to accepting credit cards for cannabis.  Accepting credit cards for cannabis is not a legal option, at this time.  FinCEN regulators have made it 100% clear that accepting credit cards for cannabis is a financial crime.  The card brands and acquiring banks ALL have cannabis on their prohibited merchandise list.  A credit card processing account for cannabis is simply considered illegal. 

Unfortunately, there are still many groups out there selling "compliant" credit card processing for cannabis.  No matter how it is done, if the funds originate from a credit and end up purchasing cannabis, it is a violation.  Whether it is through crypto currency, stable coins, off shore acquiring banks, or any other means your business could be in the cross-hairs for a financial crime!

We understand that your business is your passion, your lifeline.  Protect your business and don't fall victim to merchant service providers who claim to have a transparent credit card solution.  It does not exist.

Now for the good news! PIN Debit Cannabis Merchant Accounts are Now Available!  Fill out the form below to get started today.

Pricing Disclosure:

  • Interchange plus 3% and $0.35/transaction

  • $30 Month (Includes account statement, PCI, and Online Reporting)

Get Approved Today!

eCheck cannabis payment processing for online cannabis paymentseCheck Payments for Cannabis?

Payment by check for cannabis can be a powerful tool!

Did you know that payments made by ACH and Checks are the fastest growing sector payments in the country?  There are good reasons.  It is secure.  It is easy.  It is cheap! 

In a digital economy how does the cannabis industry compete or keep up with the times?  We buy everything online from groceries to clothing to cars and even houses.  Why can’t consumers be allowed to purchase cannabis online? Bottom line, accepting credit cards for cannabis is against federal law for both retail and e commerce cannabis businesses.

Thus, the power of the eCheck for cannabis.  Accepting eChecks for cannabis empowers your business to accept online payments for cannabis.  These purchases can be picked up or delivered.  Studies show that many customers either do not want to deal with a budtender or don't have the patience for the process.  Most customers or patients already know what they want and just want to buy it.  Allowing your customer to pay online for quick and easy pick up or delivery offers multiple benefits.  It creates a safer environment for your employees and customers.  It also can reduce staffing needs and banking costs, while increasing sales.

Many cannabis businesses feel that their customers do not want to pay by check.  In our experience, however, with proper website disclosures, eCheck payments are an effective tool giving you an edge on the competition.

eCheck payments are also highly useful for cannabis B2B businesses.  eCheck payment processing for cannabis B2B companies is highly effective.  With the power to electronically invoice, create recurring billing, and allow for ‘after hours’ online orders.  B2B sales in cannabis are particularly difficult because exchanging large suitcases full of cash for product is not only dangerous, it is expensive!  It has been shown by studies done by the Federal Reserve that cash costs traditional businesses, on average, 0.53%.  For cannabis that cost is considerably higher - try 5 times or more higher.  Additionally, businesses that can seamlessly place orders with a supplier online of over the phone order more.  They are more likely to do business with that supplier than they are one that only accepts cash.

Streamline your supply chain and operations with the power of eCheck today!

Get Your Application Today