Marijuana & Cannabis Merchant Account
PayFasto offers full-service cannabis & marijuana merchant account solutions, tailored to your cannabis business.
Securing reliable cannabis payment processing solutions isn’t always easy – but with PayFasto, it can be. Gain access to our secure, compliant, and efficient payment gateway tailored to your cannabis & marijuana business.
Join 100+ Companies Who Already Use Our Cannabis Merchant Account Services
Why Choose PayFasto For your Cannabis & Marijuana Merchant account?
Your Growth Starts Here.
Reduce Chargebacks. Increase Payment Options. Globally.
Just as top-quality cannabis products require expert care, PayFasto offers an expertly crafted cannabis payment gateway that meets the unique needs of the cannabis industry. Secure your cannabis merchant account with us, and get access to all of your favorite payment methods, cutting-edge security measures, and seamless financial transactions.
Start Accepting Payments In Your Cannabis Business
Our tailored cannabis & marijuana payment processing solutions are designed to meet the unique needs of your business, ensuring you can focus on what you do best.
Our Cannabis merchant account supports all types of cannabis businesses
From Bud to Bucks.
Discover PayFasto’s customized cannabis payment solutions designed to thrive in all sectors within the cannabis industry. Our cannabis merchant accounts are tailored to cannabis-related niches, such as dispensaries, cannabis e-commerce websites, retail, and more. Whether you’re selling cannabis & marijuana products in-store or online, PayFasto’s payment solutions have you covered.
Need payment processing for your cannabis dispensary? We provide a specialized payment solution to cannabis dispensaries in the US, Canada, and Europe designed to meet the unique needs of cannabis dispensaries.
We’ll help you with accepting credits card payments on your cannabis e-commerce website. Sell your cannabis and marijuana products with ease online while we ensure smooth transactions and a great payment experience for your customers.
Grow your cannabis retail business with PayFasto’s dedicated merchant account. Our tailored solution is designed to streamline payment processing for cannabis retail, ensuring a smooth and secure payment experience.
Best Cannabis & Marijuana Merchant Account in 2023
At PayFasto, we like to believe we offer the best cannabis merchant account of 2023.
The cannabis industry is set for remarkable growth, but with growth comes competition and regulatory challenges remain on the horizon.
At PayFasto, we’re committed to delivering one of the best cannabis merchant account solutions, which is why we also offer tailored CBD merchant accounts. Doing so means prioritizing security, compliance and reliability, ensuring both businesses and customers enjoy a safe and seamless experience within this rapidly evolving industry.
With strong security measures, fast transactions, and a global reach that caters specifically to the cannabis market, we strongly believe that we provide one of the best cannabis payment processing solutions on the market in 2023.
One Cannabis Merchant Account. Multiple Payment Options.
With PayFasto’s. cannabis merchant account, you’ll have access to various payment methods from one unified cannabis merchant account, including, Credit and Debit Cards, Mobile Wallets, ACH Transfers, Cryptocurrency, Local Payment Methods and more.
This simplifies your financial operations, reduces administrative overhead, and ensures that your customers can choose the payment option that suits them best.
We understand that flexibility is key in the cannabis industry, and our solution lets you provide just that.
What are the challenges of getting a Cannabis merchant account?
Legalize Your Profits.
Securing a cannabis merchant account can be challenging due to several unique factors, first and foremost the legal complexities surrounding the industry. This is exactly why it’s crucial for cannabis businesses to partner with an experienced payment provider for their cannabis merchant account, as it allows you to process payments, and grow your operations while ensuring compliance with ever-evolving regulations.
Despite its legalization for medical or recreational use in many regions, cannabis remains illegal at the federal level in some countries. This legal disparity can create hesitancy among financial institutions, making it difficult to access traditional banking services.
Because of its legal complexities and potential for regulatory changes, banks and payment processors often categorize cannabis businesses as high-risk. This classification can result in higher processing fees, stricter underwriting criteria, and increased scrutiny.
Cannabis-related businesses must navigate strict compliance and regulatory requirements imposed by various government agencies. These requirements vary by jurisdiction and can be intricate, demanding careful attention and resources to remain compliant.
The stigma associated with the cannabis industry can pose challenges when seeking financial services. Some financial institutions may be hesitant to work with cannabis businesses due to reputational concerns, even in legalized regions.
Many financial institutions & merchant account providers lack expertise in the cannabis sector. This can lead to misunderstandings during the application process, and business owners may struggle with acceptance.
Obtaining a cannabis merchant account can involve an extensive application process. Businesses may need to provide a significant amount of documentation, including detailed business plans, financial records, licenses, and more.
Payment Processing For Your Cannabus Business Starts Here.
Your Pathway to Seamless Financial Transactions in the World of Cannabis & Marijuana.
Frequently Asked Questions About Our Cannabis Merchant Account
Are Cannabis Merchant Accounts Legal?
Yes, cannabis merchant accounts can be completely legal when operated in compliance with state and local laws.
Many regions have legalized medical and/or recreational cannabis, and there are financial institutions, like PayFasto, that offer compliant and completely payment processing services.
Can I Accept Credit Card Payments for Cannabis Products?
How to Get a Cannabis Merchant Account?
With PayFasto, it’s relatively simple to obtain your cannabis merchant account. You simply need to provide us with a series of documentation.
The specific documentation required can vary from business to business and region to region, but our common requirements include business licenses, permits, financial statements, and information about your cannabis-related business operations.
What Is the Difference Between a Cannabis Merchant Account & a CBD Merchant Account?
The primary difference between a cannabis merchant account and a CBD merchant account lies in the nature of the products they support: cannabis merchant accounts cater to marijuana-related businesses, while CBD merchant accounts serve businesses that sell hemp-derived CBD products.
It’s crucial to choose the right type of merchant account based on your business’s offerings to ensure compliance and smooth payment processing.
What Are the Benefits of a Cannabis Merchant Account?
In short, a cannabis merchant account offers some key advantages to businesses operating within the cannabis industry.
These include: legal payment processing, improved cash flow, enhanced customer experiences, increased sales, security, credibility, streamlined operations, compliance, competitiveness, transparent records, and global payment acceptance.
What is a Cannabis Merchant Account?
In essence, a cannabis high-risk merchant account is a financial service that allows businesses in the cannabis industry to accept payments for their products and services.
Given the unique legal status of cannabis, cannabis merchant accounts – like the one offered by PayFasto – are specifically designed to navigate the complex regulatory landscape and provide secure payment processing solutions.
How Much Does a Cannabis Merchant Account Cost?
As a general rule, a cannabis merchant account cost between 2-4% in transaction fees.
Other common fees associated with cannabis merchant accounts may include Processing fees, monthly fees, setup or application fees, PCI compliance fee, chargeback fees, and termination fees.
However, the price of your gambling payment gateway and merchant account depends on a series of factors like processing history, method of sales, countries, volume of sales, and the nature of your business and products.
All cannabis merchant accounts and prices are unique so contact us to get a tailored quote for your business.
Do You Support Other High-Risk Industries?
Yes, we support a wide range of high-risk industries. Our mission is to provide safe and convient payment processing to all businesses – no matter their risk profile: