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Internet Merchant Accounts For Medical Marijuana?
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Internet Merchant Accounts For Medical Marijuana?
Most people are not aware about the reality that the purchase medicinal marijuana has become legal in a variety of states as well as in Washington, D.C. itself. This development was described as a disaster by certain people, "about time" by others, and with mixed feelings by more some. But, as legitimate businesses medical marijuana dispensaries do have an obligation to process credit card transactions in their stores - but what about the Internet? Merchant accounts aren't going to offer these services now. One State's Story In Colorado the state in a state where sales of medical marijuana were recently made legal, more than 1000 dispensaries have opened. More than 20 percent of owners of such shops have been convicted of felony, and the State is rushing to close these shops. In fact, not long after medical marijuana ny medical marijuanas card became legal over 100,000 people were registered as users, making the need for reliable credit card processing clear to dispensary owners. It's Still Illegal Online Because marijuana isn't legal in every state and is still deemed to be unlawful by federal authorities Federal government, buying it online is still forbidden. In California activists are working to put a measure on the ballot in the 2010 elections, which could allow the medical marijuana market online. This measure will legalize recreational marijuana use and allow for the State to tax the sale of any marijuana-related product and could result in a windfall for the state's finances. If this legislation passes it is highly likely to happen that Internet sales will soon follow. It will open up a new opportunity for merchant account firms as well as business owners. The Advantages of Accepting Credit Cards For the proprietor of a dispensary, the benefits of taking plastic are obvious. At the most fundamental level the dispensaries are located in less than appealing areas of town and the smaller the amount of cash on the premises the better. Furthermore, the acceptance of credit cards assures that payment is actually received. Additionally, it's easier to track sales, anticipate trends, and ensure that your company has enough money available for buying new stock if you know that your funds will arrive in your account immediately. Although it isn't possible to offer medical marijuana online for sale at this time but it's highly likely that if the California measure is passed and the State begins taxing sales, other states will follow following. The shift to Internet sales isn't far from the horizon and having a merchant account that is ready to take you online will enable you to be ahead of the crowd.  

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