Denver,CO (PRWEB) April 15, 2014
MJ Merchant Solutions today announced the release of an end-to-end solution that provides merchant payment processing of credit, debit, and prepaid payment cards, mobile commerce solutions, and other related business services for recreational and medical marijuana dispensaries.
MJ Merchant Solutions provides dispensaries with a secure, integrated hardware and software system that allows customers to use credit and debit cards as an alternative to cash as a form of payment.
This Point of Sale system and payment processing solution enables customers of recreational and medical marijuana dispensaries to use their credit and debit cards like at any other retailer for the first time in both recreational and medical marijuana dispensaries. This is a major step forward in facilitating merchant transaction, within the industry, which has been traditionally been 100% cash-based.
MJ Merchant Solutions Director of Marketing Kenneth Cade, points out that “credit card payment processing is in many ways the best option for both the consumer and the merchant. Credit card processing will reduce the number of cash transactions, saving dispensaries in labor costs, reducing the risk of theft and loss, as well as automating, expediting, and making the check-out process more convenient for the consumer.”
Cade notes, "Last year alone Medical Marijuana dispensaries did more than $2 billion in cash transactions at more than 2,100 individual locations, and these numbers do not even factor in the recreational marijuana dispensaries that began selling marijuana in Colorado in January 2014, This makes the marijuana dispensaries one of the most untapped segments for credit and debit card processing companies in the United States. With the addition of recreational dispensaries, the industry is projected to top $50 billion in the next 6 years.
MJ Merchant Solutions] believes the roll out of its credit card processing and POS solutions will give it a distinct advantage in the highly coveted marijuana dispensary marketplace."
About Merchant Solutions
MJ Merchant Solutions] is a leading Denver, Colorado based innovator and provider of electronic payment processing for merchants, including merchant credit/debit/prepaid card processing, mobile commerce, and other related business solutions for small- to mid-size businesses.
MJ Merchant Solutions focuses on developing innovative solutions to service marijuana dispensaries and other related market segments that otherwise do not currently utilize, or which underutilize, merchant processing services.