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Cannabis Credit Card Processing Companies

Our Picks for the Top Marijuana Credit Card Processing Companies

  1. Easy Pay Direct
  2. eMerchantBroker
  3. PaymentCloud
  4. Helcim
  5. Mynt POS

1. Easy Pay Direct

Easy Pay Direct works with high risk businesses, such as those in the cannabis, CBD, and hemp space. This company was designed to make your life easier. They will take the time to learn about your business and what it may specifically need. EPD has served 60,000 merchant accounts. They deliver excellent customer service and will do whatever they can to meet your business needs.

2. eMerchantBroker

eMerchantBrokers works with ecommerce and retail businesses that are risky. They are a full service merchant provider. eMerchantBrokers does everything it can to stay ahead of its competitors and their prices. The merchant accounts involved with their company are the top priority. If your business has unique needs they are the unique solution.

3. PaymentCloud

PaymentCloud works with merchant accounts that are considered high risk, or adult businesses. They will tailor to your specific business needs. PaymentCloud excels in the business of merchant services. PaymentCloud can give you protection from fraud and chargeback situations. They are your full suite merchant service provider.

4. Helcim

Helcim thrives when working directly with small businesses. They offer amazing customer service and honest pricing with no hidden fees. With just one Helcim account you get unlimited access to all of the tools you need for seamless credit card processing. You will get the lowest interchange rate with every transaction your company processes. They have all of your payments covered.

5. Mynt POS

Mynt POS has worked with companies such as retailers and quick service restaurants. Every Mynt subscription is protected by a lifetime subscription warranty and free service. Mynt accepts all modern forms of payment to ensure smooth transaction processing. Dedicated remote installation and training is included with every Mynt account. Mynt is optimized for your business.

As more and more states start to legalize both recreational and medical marijuana, dispensaries are popping up all over the United States, all over the country. If you're a merchant (a person who owns a business), you need to know how to find the best marijuana payment processing companies.

You might be one of them. If so, there is a lot you need to know to start taking credit card payments. Many companies now offer merchant account services for dispensaries. You might have thought that your business had to be cash-only, but there are a lot of companies that offer these types of services. You just need to know who to talk to.

There are a lot of people who think that it is illegal for them to accept credit card payments for pot. But that isn't the whole story. In the United States, the federal government controls most of our big banks and credit unions. Because cannabis is illegal under federal law, there is more risk.

In 2013, the Department of Justice released the Cole Memo, which says that lawyers can't go after legal marijuana businesses that are following their own state laws and regulations. So there's a little bit of gray area here. Credit card payments can be made at a cannabis dispensary store. You just need to know how to do it right.

What are Cannabis Merchant Account Services?

All of this starts with setting up the right merchant account. You'll need two things for this. There should be a merchant account (or at least more than one), which is where the money you make from sales goes.

A payment processing company that will take care of accepting payments from your customers, getting approvals, and moving your funds into your merchant account(s) before depositing it into your business bank account. There are some high-risk merchant account providers that offer both of these things, but not all.

Why Should You Consider Accepting Credit Cards for Cannabis?

Research has shown that more people use credit cards and debit cards to pay for things than they do with cash to pay for things they buy. In fact, only 19 percent of people prefer to pay with cash, which means that 81 percent of people use another method of payment. Companies that make it easy for people to use their cards are more likely to get business from people who want to use cards.

What are the Alternatives?

You don't have to accept credit cards at your dispensary, but you can if you want to. It's not the only way to sell your products, but some of them can be seen as sketchy, so we don't recommend them. make your own cannabis payment processing business instead of working with a cannabis payment processing company.

  • You could keep taking cash only, but this could cost you money in the long run.
  • Do not be honest about what you are selling. You can hide it with another thing. Among other things, "sticker" stores are becoming popular in New York City (buy a sticker, get a free gift of cannabis).
  • Offer cashless ATMs. To do this, the payment is made as a debit card transaction, which includes the amount of any transaction fees that might be charged. All but a few of these businesses are quickly shut down.
  • Accept e-checks and ACH transfers as forms of payment. To do this, you'll need to download a special app, which can be hard for people to do.

A company that has worked with other cannabis businesses to process payments the right way is the best choice.

Why are Marijuana Merchants Considered High-Risk?

In addition to the fact that cannabis businesses are illegal, there are other reasons why they are seen as high-risk businesses.


Every business has to deal with chargebacks, but in the cannabis industry, this risk is even higher. In this case, the customer might not be happy with their purchase because it didn't help them. Then, they can't return it.

Many people will file a chargeback with their credit card company at this point. A lot of chargebacks means you're more likely to get into trouble with the company. And the more risky you are, the more likely it is that you will lose your merchant account service.

Merchant Category Codes

It is still against the law to sell marijuana in the United States, so there are no merchant category codes (MCCs) that can be used to make sales. Merchants often use MCCs for other types of products to get around this, but if you don't pay attention, this can make you lose access to your account.

As a good thing, there are merchant account providers who specialize in working with businesses that sell marijuana. They know how to deal with this problem and how to solve it, so they can help you.

How to Choose a Cannabis Payment Processing Company

Making the move to work with a marijuana credit card processor is a good thing to do. Then, you don't want to just pick the first one that comes up in your Google search, either. To get a good grade, you need to spend a lot of time on your research. Here's what you should look for.

Check Their Reputation

Before choosing a cannabis merchant account provider, make sure you know how well they are known in the field. Here are some things you might want to ask:

  • Have they ever abruptly cut off a merchant account? So, why?
  • Is it possible to get a merchant account in the United States or somewhere else?
  • People write about them online.
  • If so, does the BBB like what they say about them?

Choose what you want to learn about as much as you can. The more you know, the better your choice will be.

Look for Transparency in Pricing

When using a credit card processor for marijuana, the processor should be completely transparent about the rates and fees it charges, as well as the total cost of their service. You don't want to find out later that there were a slew of additional fees that you were completely unaware of.

Cannabis processing currently costs 5.95 percent plus $0.30 per transaction. At the moment, it is moving at this rate. That may change in the future. Paying annually or monthly is another option. Furthermore, you may require a "rolling reserve," which is common in extremely dangerous organizations.

There is something called a rolling reserve. This means that your credit card processing company will hold back a small percentage of your sales for six months at a time. Having this can help pay for any chargeback fees that you might have to pay.

Gauge Their Reliability

The last thing you want to do is choose a payment processor that can't keep its software up and running. As a business owner, that could be bad for you and bad for your customers. Do not forget to ask a provider what their average uptime is. If they refuse to tell you, be wary.

Ask About Scalability

There will be a $43 billion-a-year business in the cannabis industry when it comes to money by 2025, Forbes says. Because if your business model is good, you could be making a lot of money very quickly if your payment processor can grow with you.

It should be clear to your credit card processing company that your business is going to grow, and they should be able to grow with you as your business grows.

Tips on Choosing the Best Cannabis Merchant Account Provider

Now that you're ready to do some real research and start talking to marijuana payment processing companies, we have a few more tips for you.

Tip #1: Read All Contracts Carefully

The fine print of your contract is easy to forget when you're excited about starting a business or taking credit cards. Take a deep breath and step back. There are a lot of things to think about when you're going to sign your contract. It's best not to sign a long-term contract with a merchant service provider.

If you don't like their service, you may not be able to get out of your contract for 3-5 years. At the very least, it could be very expensive to do so. Choose a provider that lets you work with them month-to-month instead of for years.

Companies that don't charge a lot of money to end their contracts are less likely to do that. This is important to keep in mind: If your provider sends you an ATM machine or a point of sale system, that could lead to another contract with its own rules. There are the same rules, so read it carefully and make sure you're 100% okay with any cancellation fees you might be charged.

Tip #2: Open More Than One Merchant Account

It's always possible that something could go wrong and your merchant account could be shut down. Good providers, like those on our list, know this, so they come up with ways to help.

One of the ways you can do this is to open more than one merchant account for your business. It is less likely that you'll lose a lot of money because of a processing problem because you're diverting payments to more than one merchant account

One of your merchant accounts has 20 chargebacks in a month, so let's say that's how many you had. The account might be frozen for a while. If that's your only merchant account, you won't be able to get those funds for a while, which could hurt your business. Then, if you have more than one, the frozen account is just a small inconvenience.

Tip #3: Never Settle for Less Than Excellent Customer Service

Sometimes things go wrong, and when they do, you want to know that your processor's customer service team can help. A company that has customer service and tech support available around the clock is a good idea if you can find one that does. If you do this, you won't have to ask your customers to come back later or contact them when any problems are solved, which could cost you money in the long run.

Bonus Tip: Avoid Leasing Your Payment Processing Equipment

Try not to rent point of sale systems or credit card terminals if at all possible, and don't pay for them. A lot of people end up paying a lot more for their hardware when they lease it than they would have if they had bought it outright. If you want to sell your goods, keep in mind that you can also use a virtual terminal or payment gateway to do so.

There are fees for both, but they are much less expensive than expensive equipment leases, which can cost a lot of money. In that case, that's great! Make sure that the payment processing company you choose can work with it. That should cut your fees a lot.

  1. Easy Pay Direct
  2. eMerchantBroker
  3. PaymentCloud
  4. Helcim
  5. Mynt POS

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