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Call: (877) 892-8304
Riverside, CA 92509-3741
 
 
 
 

Medical Marijuana Merchant Accounts

Here is a comparison between the 2 companies offering merchant accounts

 
 
Companies Name EMS IS NO LONGER ACCEPTING NEW MMJ MERCHANT ACCOUNTS Best Point of Banking

Credit Card Types MC/Visa, Disc,and Debit

Yes With PIN
Max. Transaction Based on Balance of Card

$500.00


Discount Rate for Credit Cards 4.95% **.00
Discount Rate for PIN Debit 4.95% **.00
Transaction Fee $.25 0
PCI Ins. $15.00 Per Month 0
Monthly Min. $25.00 Per Month 0
On-line Access $15.00 Per Month 0
Statement Fee $12.00 Per Month $12.00 Per Month
Annual Fee $150.00 0
Charge Backs Yes No
Charge Back Fees $25.00 0
Free Equipment Offered Yes No
Cost of Equipment $300.00 to $600.00 $275.00 to $405.00

Early Cancellation Fee Without Free Equipment

&300.00 0

Early Cancellation Fee With Free Equipment

$900.00 0

The Amount of Days Need to Deposit Funds Into Your Account

1 to 2 Business Days 1 to 2 Business Days
Type of Checking Account Needed Business Any Type of Checking Account
1099 Form Needed Yes No
Application and Setup Fee No No
Free Paper No YES

 **BPOB has no discount rate that the merchant pays. The convenience fee is paid by the patient. 

Questions and Answers 

Which will be used more by your patient? If you look at this strictly as which system will get the most use, its credit cards. Credit Card will get as much as 2 times as many transactions as a BPOB system does. This is not only in transaction count, but in dollars to. 

By using the BPOB system instead of a credit card system will my dispensary lose money? No! This is what we have found with the merchant that use the BPOB system. Their avg. transactions are larger than the credit card system and patients tend to use cash for smaller transaction. This combination seems to keep the bottom line the same. 

Can you legally surcharge? You cannot legally surcharge a credit card transaction. If you are doing a PIN base debit transactions you cannot surcharge on any Visa network. BPOB system is allowed to charge a convenience fee back to the user because they use ATM networks not credit network to process the transactions. 

Why not just use an ATM machine. BPOB system in most cases will charge your patient a smaller convenience fee. No long term contract, no minimums number of transactions, smaller foot print, no wallet to fill. 

We hope that the information that we have furnished you will help you make the best decision for your business. Please call us to answer any additional questions you may have.

Contact us at (877) 892-8304 to set up merchant services that give you an edge over your competitors.