Are Payment Processing Challenges Hindering Your Lounge's Operations?

Reliable Cannabis Consumption Lounge Payment Processing

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Bankcard International Group (BIG) offers dependable cannabis consumption lounge payment processing services that allow for customers to pay with their debit card.  Cannabis consumption lounges, while gaining popularity, often encounter challenges in collecting payments due to the unique nature of the industry. Federal laws still restrict cannabis as a controlled substance, making traditional payment methods like credit cards inaccessible. This has forced businesses to rely on alternative methods, such as cash-only transactions or digital wallets that may not be widely adopted by customers. These limitations can hinder operations and create security concerns, necessitating innovative solutions to streamline the payment process.  

Bankcard International Group understands the unique needs of cannabis consumption lounges and offers high-risk merchant services specifically designed to streamline your payment processing.

Why Go Cashless? Cannabis Consumption Lounge Payment Processing?

  • Dependable Cannabis Consumption Lounge Payment Processing can be difficult but Bankcard International Group makes it easy!Enhanced Security: Eliminate the risk of cash theft, loss, and errors with secure cashless transactions.  Increase sales and revenue.
  • Reduced Operational Costs: Save time and money by eliminating cash handling, counting, bank fees, and armored car services.
  • Improved Customer Experience: Offer a convenient and modern payment experience for your customers, increasing satisfaction and loyalty.
  • Enhanced Reporting and Paper Trails:  With electronic transaction reporting you are ready to answer any question and streamline your reconcilliations.
  • Offer In Person and Online Payments:  We can handle it all from accepting payments at the counter to monetizing your website, the opportunities are endless.

Why Cannabis Consumption Lounges Face Unique Payment Processing Challenges

Just like dispensaries, operating a cannabis consumption lounge presents payment processing hurdles that are quite different from other industries. Federal banking regulations and the cannabis industry’s classification as “high risk” often make it difficult to secure reliable, affordable merchant services. Without a reliable cannabis consumption lounge payment processing provider, you might find yourself relying on cash-only transactions, which can deter customers and lead to logistical concerns like:

  • Cash Management Issues: Cash transactions require extensive handling, which increases your security risks and operational costs.
  • Customer Convenience: Many customers prefer to pay with debit or credit cards. A lack of card payment options may limit your clientele.
  • Record Keeping Challenges: Efficient and transparent record-keeping becomes cumbersome with cash transactions, impacting your accounting and compliance processes.

 

Fortunately, BIG has the expertise and solutions you need to overcome these obstacles and set your lounge up for success.

BIG’s Cannabis Consumption Lounge Payment Processing Solutions

Bankcard International Group - the 2024 Top Payments Company in cannabis payment processing! Cashless ATM, Cannabis POB, Cannabis Debit Processing, ACH for Cannabis, Cannabis ATM placement, Cannabis Business Loans. Cannabis Consumption lounge payment processingAt Bankcard International Group, we offer secure, compliant, and innovative payment processing solutions tailored to your unique needs. Here’s how we can support your cannabis consumption lounge:

1. Reliable Payment Gateways

Our payment gateways ensure secure transactions, allowing your customers to pay using debit cards, ACH payments, and even cryptocurrency if you choose. This seamless experience enhances customer satisfaction while keeping your operations smooth and hassle-free.

2. Compliance and Security

Navigating cannabis industry regulations is complex. Our solutions are designed with the cannabis industry reporting regulations in mind.  Additionally, our systems include robust fraud prevention tools to safeguard your business and customers.

3. The Industry’s Best Rates and More

Not only do we pride ourselves on superior service standards and complete transparency, but, we offer the best rates in the industry.  This provides your business the options to have a low cost, no cost, or even create additional revenue center with your payment processing services!

4. Cashless Payment Options

Move away from being a cash-only establishment with our cashless payment solutions. Customers can pay with their preferred method, and you can operate with greater ease, knowing your payment process is secure and efficient.

Benefits of Partnering with BIG for Payment Processing

By working with BIG, you gain access to more than just cannabis lounge payment processing services—you gain a partner invested in your success. Here’s why cannabis lounge owners trust us:

  • Industry Expertise: We specialize in high-risk industries, particularly cannabis. Our team understands the nuances of your business.
  • Transparent Pricing: With no hidden fees, our pricing is straightforward and designed to give you the most value.
  • Dedicated Support: Our team is here to help every step of the way, from setup to ongoing support.
  • Future-Ready Technology: Our payment solutions are equipped to adapt to the evolving needs of the cannabis industry.

Focus on Your Business, We’ll Handle the Payment Processing

At Bankcard International Group, we believe in the future of the cannabis industry. Our cannabis consumption lounge payment processing solutions allow you to focus on creating a positive experience for your customers while ensuring your business operates smoothly and efficiently.

Ready to Secure Your Future with Cashless Payments?

Contact Bankcard International Group today to learn more about our cannabis consumption lounge payment processing services. Let’s discuss how we can help your business thrive in the exciting world of legal cannabis.

Meet Your Cannabis Payment Processing Specialist Today

Want to see what other people have to say about BIG's High Risk Payment Processing Services?

5.0
Based on 6 reviews
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Ashley Manning
17:47 05 Sep 24
Efficient and Reliable!I’ve been in the hemp industry for over 8 years, and I’ve worked with several merchant processors. Bankcard International Group stands out from the rest. They (Jon Zweiger + Sladana Clawson) had us up and running with absolutely no downtime—aside from a brief two-day delay on our end. Their customer support is incredible; whenever I reach out, they respond within minutes, even following up emails with phone calls. I highly recommend them to anyone in the hemp space. Their compliance team is just as responsive, quickly addressing any detailed questions or challenges.
Michael David Harrell
17:09 25 Aug 24
Decent onboarding, quick response from their IT guy when I had an issue as well!
joseph hyde
16:31 21 Jun 23
Sometimes there were challenges, They company found ways to always make it work! It is a pleasure to work with them!
Jon Zweiger
16:38 01 Mar 23
The leader in High-Risk merchant processing. Compliant Merchant programs for the Cannabis space.
Stephen Horton
16:31 08 Feb 23
They made a confusing process very easy and streamlined!
Sparket Crew
23:58 16 Aug 22
We have been using Bankcard PIN Debit system for 1 year now and it has been a great help to our canna business. Not only by significantly reducing the amount of cash handling but also by boosting our ADS and on top of this they have a fast responding help team. Thanks Shane and team.
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No, unfortunately until there is federal guidance dispensaries cannot accept credit cards.  It is strictly against card brand and acquiring bank regulations.

PIN Debit refers to a transaction that is run over any of the PIN Debit networks.  PIN Debit for cannabis can only work with networks that have expressly provided their permission to transact for cannabis.  With a Cashless ATM (A.K.A. Point of Banking) transactions are very similar but the transaction is carried out on the ATM networks.  Rather than funding a transaction like a card payment it is a withdrawl from the customer's account.  

Yes, cashless ATMs can be compliant. So long as the processor and networks have established compliance policies to allow for withdrawls in cannabis locations.  The cashless ATM was invented over 18 years ago and has been used mostly in the cannabis and payday loan industries.

Yes, Bankcard International Group (BIG) has been working in the cannabis industry since 2007.  We have earned the reputation as the Gold Standard in cannabis payment processing.  Our superior knowledge, experience, and ethical client centric standards also earned us the 2024 Top Payments Company at the PBC conference for payments, banking, and compliance in the cannabis industry.

YES!  Bankcard International Group (BIG) offers Crypto payment processing for both online cannabis payment processing and for in person transactions.  Learn more on our page about Crypto Payment Processing - we make it easy!

YES!  BIG offers cannabis friendly ACH Payment Processing for both B2B and B2C transactions.  Contact Us to learn more!

Yes!  BIG has flexible ATM placement programs for all business types including cannabis dispensaries.  Contact Us to learn more...

Absolutely!  We offer business the ability to get funded up to $10,000,000 quickly!  To learn more visit our Business Loans page.

YES!  Bankcard International Group supports cannabis related businesses with credit card payment processing services.  To learn more visit our page on Ancillary Cannabis Businesses Payment Processing.

YES! BIG offers cannabis payment processing services to the industry.  Whether you own a dispensary, delivery, or  ancillary cannabis business BIG has a solution for you!

Absolutely, BIG has been a supporter of the CBD industry for decades with dependable and affordable CBD Merchant Accounts, LEARN MORE.

A merchant account is an account with an acquiring bank that enables a business to accept credit cards.  A merchant account is basically a line of credit that is established based on a number of factors including credit, business model, and the amount of “credit” that is requested.  Bankcard International Group provides the absolute best rates and service possible.

An acquiring bank is a financial institution that is a registered member of the card brand associations Visa, MasterCard, Discover, American Express, etc.. in order to fund credit card transactions for their merchants.  Acquiring banks provide transaction funding so businesses can accept credit cards, debit cards, and other forms of non-cash payments.
Acquiring banks are appropriately named as they acquire (or accept) credit card transactions from card issuing banks that provide consumers with credit cards.  An acquiring bank is responsible for underwriting a “merchant account” for any business that it allows to accept credit card payments. In doing so, acquiring banks assume the risk associated with the transactions they process and fund. In the event that a business is unable to refund a reversal, chargeback, or refund the acquiring bank is liable to provide those funds to the cardholder.  

Applying for a merchant account is relatively simple but you do need to be prepared to provide documentation to show that you are a legitimate business with good intentions. 

Since merchant accounts are a function of the banking system and are susceptible to fraud they are required to adhere to federal guidelines including the Patriot Act and KYCC (Know Your Customer’s Customer) oversight. You will be required to provide your business information, personal identification, and credit information so the bank can verify your ability to be approved for an account.