Why Credit Card Processing For Dispensaries Has Become A Necessity

By Greg Babineau

Dispensing medical marijuana is a fast growing business that gets more competitive every day. At one time customers may have assumed transactions would be cash only. Today more and more customers are expecting to walk into a dispensary and purchase what they need using their credit or debit cards to pay for it. If you are going to be competitive in this market, you need to partner with a company that specifically handles Credit Card Processing For Dispensaries.

If you choose a good company, they will give you several options when it comes to accepting cards. For businesses without computer systems, physical terminals are usually the best choice. You have to first tally the purchases and then swipe the cards. The terminal is set up to get authorization for the purchases. After each business day, you will settle the transactions. Funds should be in your bank account no later than thirty- six hours after settling.

Businesses that have computer systems can take advantage of virtual terminals. Using these machines, you can give your customers a paper receipt or email one to the address they give you. Having email addresses gives you the capability of staying in contact with your customers through special discount offers and promotional opportunities.

The third option is the point of sale solution. This technology not only allows you to accept credit card payments, but also gives you a complete retail system. It includes inventory tracking, vendor management, a security camera, and detailed reporting. The system can be tailored to your growing business.

A medical marijuana dispensary can have special challenges when it comes to credit card purchases. When you partner with a company that processes them, you need one that will make sure your service is not interrupted or shut down. Professional processing companies will photograph your business, clearly showing the nature of that business and the products you sell, to the sponsor bank.

As competitors get more aggressive, you will have to find ways to impress your customers and convince them to return. Printing the medicinal properties of the strains customers buy on their receipts is a great way to offer them an added benefit that has value to them but no cost to you. With the information your customers can track how effective the treatment is. Offering volume discounts is another good marketing tool.

This industry is getting more and more competitive. You need aggressive marketing to let people know you have the products they need. With the point of sale system, you will get information about your customers' purchasing habits and can customize your marketing campaign to incorporate current trends.

The legalization of medical marijuana allows people to purchase what they need in the same way they buy groceries and shoes. It is no longer necessary to require customers to purchase by cash only. Normalizing these transactions by accepting cash or credit is good business.

About the Author:

You can get an overview of the benefits of using Credit Card Processing For Dispensaries and more info about well-respected Credit Card Processing For Dispensaries today.