Cannabis, commonly known as marijuana, is a wildly popular psychotropic herb. The herb is consumed in various forms (usually smoked or ingested orally). It has been used by mankind for recreation or therapy for the last ten thousand years. The active ingredient, THC, or tetrahydrocannabinol – produces mild euphoria. Larger doses amplify this effect and can cause an unpleasant sense of disorientation to the untrained user. In the United States, federal government prohibition which started in the 1930s aimed to shut down its use among citizens but that approach largely failed. Cannabis consumption has been controversial, despite tens of thousands of studies that have underscored its usefulness for an array of conditions, such as chronic pain, anxiety, and loss of appetite due to chemotherapy drugs. While cannabis remains illegal on a federal level in the United States, many states have legalized or decriminalized cannabis. This is opening the doors for blossoming businesses business that, in the United States, is collectively worth more than twenty-five billion dollars in annual sales. The cannabis business or “cannabis industry” includes any business activity relating to cannabis. These businesses include cultivation (including plant nurseries), transportation, distribution, manufacture, compounding, conversion, processing, preparation, testing, storage, packaging, delivery and sales (wholesale and/or retail sales) of cannabis or cannabis products. Typical players in the cannabis business are cultivators and producers, salespeople, consumers, independent industrial labs, state government regulators and support services, such as security guards which can be seen most readily in cannabis dispensaries.
Dispensaries and recreational cannabis stores exist at the end of the supply chain where consumers can select their desired product in a retail environment. Some states require government issued medical marijuana cards while other states have opted for recreational classification. Each store or dispensary requires state licensing in order to operate legally. Each states compliance requires that customers show state or federally issued identification to meet a minimum age requirement. The stores are managed by software to ensure compliance, manage inventory, accounting and act as a point of sale. Dispensary and recreational marijuana store software management systems can also offer sales online and on mobile devices. Goods are mostly paid for with cash and operators often provide access to an automated teller machine (ATM) nearby. Credit card cannabis payment processing solutions are starting to emerge with warm welcome from marijuana industry operators everywhere.
Payment Integrator has credit card processing solutions for the cannabis dispensary and recreational marijuana industry. Business owners are interested in using modern forms of cannabis payment like e-wallets including Apple Pay and Google Pay. Our countertop payment devices make it easy to take credit cards and debit cards. The ability to accept funds electronically for purchase at the point of sale for cannabis and marijuana derived products means less need to handle and manage cash.
Tap here to open an account