Imagine walking into your office one morning and finding out that your credit card services had been terminated overnight. They were cut off not for lack of payment and not for being involved in an illegal business, but rather they were cut off for indeterminate “unacceptable business practices.” This is a reality facing many owners of medical marijuana dispensaries who get “creative” with their applications; and if you fabricated your application it can be a legitimate termination – but that isn’t always the case.
The story above isn’t uncommon. It happened recently to, a consultation service based in Oregon. What does do that got them in trouble with their service provider Intuit? A business which offers consultations with doctors for the approval of medical cannabis use under Oregon law. Even though the clinic does not dispense or distribute medical cannabis, it has lost its services.
Intuit states that they terminated services because did not reveal its involvement with medical marijuana. When further questioned about terminating some 3000 other accounts they hold with clinics offering the same services, they stated that they would not be terminating those accounts because they didn’t feature medical cannabis on their web pages. Offered to remove the reference, but Intuit won’t reestablish the account because “now we know.”
Just like many other hot potatoes, few people want to handle this one. For those who have opened dispensaries, the challenges involved in obtaining traditional financing, accounts and services have sometimes become overwhelming. For others who remain in the business, alternatives are available. You would like to get a lot more data concerning mail order weed canada kindly check out the web page.
While selling cannabis online remains illegal, the Internet is a good place to search for companies willing and even eager to enter the market. By searching specifically for merchant account providers familiar with the risks involved in legal medical marijuana sales, entrepreneurs can find the services they require without obfuscation.
With 15 states and the District of Columbia already de-criminalizing the sale of marijuana products for medicinal purposes it is likely that the issue will come to a head soon. Some states, such as California, are planning to charge dispensaries sales tax on all of their transactions – leaving such a cash cow alone when state coffers are stripped bare is unimaginable. The question remains: how will the federal government respond to the move?
Cannabis remains illegal in most of the world, and possession is considered a capital offense in many countries. The government is unlikely to want global opinion to be so effected. On the other hand, the taxes provided by legalizing an already flourishing industry could reach $2-6 billion.
Unfortunately for merchants, there is no conclusive argument at this time. Obtaining business services will remain difficult and sudden terminations likely until all government agencies, state, local and federal are on the same page.