MobiusPay, Inc. is delighted to be in the cannabis space. We’re here to provide merchant accounts and payment services to cannabis-related businesses.
For more than a dozen years, MobiusPay has leveraged state-of-the-art secure billing technology, long-standing relationships with financial institutions and award-winning customer support to provide merchant processing and payment solutions to brick & mortar and digital businesses around the world.
At MobiusPay, providing merchant accounts to hard-to-place businesses is our specialty.
TIER 1 CANNABIS RELATED BUSINESSES (CBD)
With the passage of the 2018 Farm Bill, suddenly CBD and all cannabis-related products with less than .3% THC by volume were federally legal. This made purchasing such products with credit cards possible.
Suddenly, every bank in the United States was in the position to offer merchant accounts to CBD businesses. Unfortunately, the overwhelming majority of acquirers declined. Four years later, the landscape hasn’t changed very much. Only a handful of U.S. banks have thrown their hat in the ring.
The bad news is that CBD, and federally legal cannabis businesses still don’t have a lot of options when it comes to acquiring banks.
The good news is that MobiusPay has direct relationships with several of those banks!
Contact us today. From application to activation, we’re here for you.
TIER 2 CANNABIS RELATED BUSINESSES
Now that cannabis products are legal in most states, either medically, recreationally, or both, numerous ancillary businesses have built up around it. Simultaneously, a host of long-standing businesses have diversified, seeing in the cannabis space an ideal market for existing products and services.
Unfortunately, because the cannabis space is regarded as high-risk by the banks and card brands, and because any product with more than .3% THC by volume is federally illegal, ancillary, or Tier 2 businesses that don’t even touch the plant are getting dropped by their payment processors–whether they’re processing with an aggregator like Stripe or PayPal, or they have their own merchant account.
Generally speaking this is occurring because processors are running algorithms that crawl clients’ digital storefronts for compliance issues. To you, words like “cannabis” or “marijuana” or “THC” are industry terms and marketing jargon. To those algorithms, they’re red flags. And when the red flags get tripped, processing stops.
If you’re a Tier 1 or Tier 2 cannabis-related businesses, redundancy in processing is a must.
If you don’t have a backup solution, you’re living in Hurricane Alley without a generator.
Contact MobiusPay today to discuss a backup processing solution to mitigate this risk and ensure peace-of-mind.
WHY MOBIUSPAY?
Award-Winning “White Glove” Service
We are hands-on with every client, ensuring the process from application to activation is smooth, clear and stress-free.
100% Compliant Banking
MobiusPay has direct relationships with every acquirer. That means your processor not only accepts your cannabis business, they welcome it.
24/7 Support
When issues or questions with processing arise, every second counts. MobiusPay is always on-hand, ensuring rapid response and resolution.
Direct Banking Relationships
We have direct relationships with every acquiring bank in our portfolio. That means two things:
1. We know what’s coming down the pike, so there are no surprises for you.
2. If you have any questions or concerns about your account, talk to us. We usually have the answer. And if we don’t, we’ll contact the bank directly and get all your questions answered ASAP and accurately!
Experience
Banks look at high-risk and hard-to-place businesses differently than they do low-risk businesses. There’s a lot more scrutiny and suspicion. There are more compliance checks. Opening and operating a processing account can feel complicated and stressful. For MobiusPay, working with businesses deemed “high-risk” by the banks and card brands is our main focus. We’ve been doing this a long time. You’re in good hands. Contact us today.
NCIA is leading the cannabis industry's unified and coordinated campaign to ensure our business sector is treated fairly and has the opportunity to reach its full potential. Now - more than ever - is the time to invest in your business and the future of the industry by becoming a member.
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