Welcome to GreenHouse Payment Solutions
Legal marijuana outlets, both medical in 23 states and recreational in Colorado and Washington, have a serious problem. The transactions for their products have to be made almost entirely in cash because it is very difficult to open and keep a bank account in order to take plastic for purchases.
Even though the use of marijuana medically or recreational in these 23 states is legal, the Federal Government classifies it as an illegal class 1 drug. For this reason, most banks including state-chartered banks, will not provide any traditional banking or credit card services to marijuana outlets. They are afraid that federal regulators and law enforcement will come down on them with fines and further restrictions.
These limitations have created many burdens for the business owners. Burdens such as paying employees in cash, purchasing money orders for buying supplies and paying bills, and of course, additional security concerns like break-ins, robbery, assault, etc.
GreenHouse Payment Solutions LLC has been involved in the Payment Processing Industry since 2004 and have been personally involved with the Medical Marijuana Industry since 2009 in helping to provide payment solutions that work. We do our best to be compliant with existing Federal, FinCEN and Banking Regulations.. We have been professional consultants for businesses helping them utilize the best processing solutions available for their transactions.
GreenHouse Payment Solutions LLC has a proven way to add more revenue and profit to your organization. Through our relationships with several major processors, we have the ability to provide many payment options in order to customize solutions for both unique and traditional businesses. Being based in Denver, Colorado has given us the opportunity to stay with the pulse of this ever evolving Cannabis Industry and to be of service to businesses in all States presently active and those newly opening.
We are also a member of the National Cannabis Industry Association and abide by the NCIA Pledge and Code of Conduct in word, action and with the spirit of integrity that is at the core of these principles.
At this point in time, credit card processing continues to be an elusive option for the cannabis industry’s merchants. The best way to accept payments for cannabis merchants at this time is Point of Banking, also known as Counter Top ATM.
Counter Top ATM.
In regards to Credit Card Processing for the Industry, the situation has been very volatile. Recent comments by the Attorney General, indicates that positive movement towards banking institutions allowing cash deposits is occurring. Once guidelines are set, individual banks will be able to make decisions on whether to participate in the Marijuana Industry.
Credit card processing, more than likely, will not be available until Marijuana is no longer a Class 1 Drug.
We have been involved in setting up credit card processing for mainstream businesses for many years now. We are aligned with processing companies that will take on marijuana outlets at best possible rates when the light turns green.
Our promise to our clients is that we will keep them informed. When banking permits cash deposits, we will make recommendations.
It makes good business sense to keep the point of banking system in place, but when legitimate card processing becomes available, we will give the option to our clients to add this payment system to their locations.
We are helping to make the Cannabis Industry more mainstream by providing professional payment solutions for merchants and keeping our clients informed on the latest trends in this ever evolving Industry.