With legalization in 24 states and the District of Columbia, the industry of medical marijuana is in the infancy of what is expected to be a flourishing business. Currently, there are no merchant account solutions or credit card processing for medical marijuana. Though growth, possession and sale of marijuana — for medicinal and recreational purposes — is legal in 24 states, it does remains illegal by federal law in the U.S.
Instabill and many other payment processors worldwide are hopeful of a credit card solution to be available soon to relieve marijuana merchants of the burden of cash.
Since 2001, Instabill has been providing high quality merchant services to high risk businesses worldwide. From merchant accounts and payment gateways to offshore incorporation and SSL certificates, Instabill strives to be your one-stop shop for all your e-commerce needs. With more than 40 compatible shopping carts and a handful of free payment modules, Instabill provides its merchants everything it needs to succeed. To learn more, contact us online or call us toll-free at 1-800-318-2713 today.
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Instabill has partnerships with offshore banks which enable us to provide credit card processing for medical marijuana seed businesses. Choosing an offshore bank through which to process has many advantages, including possible tax breaks and no volume caps. Instabill welcomes high risk business types, as do our offshore banking partners.
The Instabill Partner Program is ideal for high risk merchants. PSPs and ISOs send us hard-to-place merchants, for which Instabill finds banking solutions and splits the revenue as high as 50-50. Our Partner Program, which works vice-versa as well, has grown exponentially over the past year, and we feel it is tailor made for the high risk e-commerce industry.
Part of Instabill’s high risk credit card processing services includes help with preventing chargebacks. Not only do we assist in monitoring for fraudulent transactions, but we also educate you in preventing fraud as well as chargebacks. From red flag signs of fraud to smart business practices, you will soon become an expert in keeping your chargeback ratio low. Learn how to reduce chargebacks here.
On the occasion merchants encounter a chargeback, our risk management department will notify you and help you dispute the transaction. We will explain the reversal process and tell you what documents you will need to submit. Learn how to fight chargebacks here.