Despite having an excellent business credit and personal credit history I am finding it quite difficult to find a new processor. We are one of Canada's most well known and respected marijuana seed companies, however we have been dropped from our cc processor for no other reason then being deemed high risk. 1 charge back in 3,000 + orders - over 2 years, and we are high risk. Doesn't seem to make any sense to me. Looking for any help regarding companies that will accept marijuana seed retailers. Where can I find a virtual terminal to process creditcards for an marijuana seed retailer? Thank you. Contact us at Thank you for your time, any help is appreciated.
Answer is quite easy one, go for PayPal. We are also in Canada, have PayPal after trying many others (Beanstream, Elavon, Chase ...). Very happy for many reasons
From experience, expect a short tenure with Paypal. We have used them 2 separate times in the past 4 years - Paypal will eventually shut you down. Ridiculously seeds are considered by Paypal to be "drug paraphernalia" - which is totally against their tos.
Curious, how does the legality of marijuana seeds work up there? I'm guessing but I wouldn't be surprised if companies have policies outright prohibiting any marijuana related processing even if it is legal. At least where it's legal in the US, MMJ and recreational marijuana, cannot even have a bank account in most situations, let alone a merchant account. It puts them in a horrible position of having to hold large amounts of cash all the time. Funny the IRS doesn't mind getting paid in cash though...
Sauga, Sorry to hear of your troubles. Banks in the U.S. and most banks in Europe will not deal with MMJ because of federal regulations. I'm going to recommend that you talk to the guys at Guardian Data Systems. They're the best in the industry and if they can't help you, they can at least give you some suggestions.
Seeds are 100% legal, no thc or cbd present so they cannot be considered a drug. They are legal to buy, store or own for novelty, storage or scientific purposes.
maybe look at other websites like yours and go thru the shopping cart and see if there the CC processor is advertised anywhere
+1 for Bitcoins. We are taking it for more than year now and sorry that we didn't start earlier. However, for complete disclosure, very small percentage of buyers have BTC
You should go with ccbill. They are one of the best payment processors who are efficient in handling payments. They also accept high risk payments as well.
Lots of business were forced to give up on Credit card payments [backpage for example or online smoking shops]. They turned into Bitcoin and they are successful now, no chargebacks, no fraud. You can also consider alternatives, machine learning fraud fighting services, take a look at https://www.signifyd.com/
NO need to go for third party Payment Gateway else you can get your own from your local bank as well and they will proceed the fund in less time too.