eQcho Capital now provides Credit Card Services…
by partnering with Payment Advisors, a merchant service broker, to provide merchant services for the cannabis industry. We are excited about this partnership because it provides a major solution to a frustration shared by many dispensary, CBD and hemp owners.
What is the value of this service to my business?
Just think how much money your dispensary/CBD/hemp business is losing because your clients don’t have cash-on-hand. Now your dispensary can present a PIN-based payment option without paying those enormous processing fees, ultimately increasing foot traffic, higher average transaction size, and increase your number of sales. With the new wireless solution, you will be able to sell remotely at markets and offer a delivery service to your customers!
There is no approval process. This is a cash transaction, so you WILL be approved for this service.
* NO Cancellation Fees
* NO Risk
* NO Processing Fees
No Need for an ATM Machine!
The Smaller Details When Accepting Credit Cards, for Your Cannabis Business.
The transaction must be rounded-up to the nearest dollar amount. For example, if the customer’s ticket comes to $49.50, the merchant would key in $50 to the terminal, and give $0.50 change in cash to the customer. The customer would see $53.50 on their bank account (and perhaps that additional charge from their bank referenced above).
**The terminal will not show an error when a non-$1 increment (exact amount) is entered but it may flag so please be sure all staff is trained to only key in $1 increments, and not allow the customer to key the amount in**
The max ticket that can be run is $500, which is set by the processor. But it’s also dependent on the customer’s daily ATM limit. If a customer’s max daily ATM withdrawal limit is, say, $1,000 and they already withdrew $800 that day, then they would only be able to run $200 with the merchant.
WANT TO TALK TO SOMEONE? CALL US AT (360) 768-2092