Welcome to B.I.G. News
Bankcard International Group
The Gold Standard in High Risk Merchant Accounts
Intro. by Joe Zahaitis, President
?Joe Zahaitis here, the ranking “old guy” in the room. Welcome to our collective “hive mind” that we call BIG News (Bankcard International Group).
?Supporting the HIGH-RISK payment space is what we do at BIG, with a strong presence in the cannabis segment utilizing our PIN Debit solution. ?Our solution has been processing for over 3 years now (which is more like 21 years in internet/ cannabis/high risk/dog years) it has been an awesome journey. We continue to build strong relationships and partnerships with quality players in the marketplace. We look forward to talking to everyone about how we might? (we’re not for everyone) be able to help you with your payment needs. Please reach out to us, even if just to get to know someone else in this ever-changing business segment.
We’re super excited with what we can bring to the payment space based on both our DECADES of experience as well as our willingness to go the extra mile for our clients. We’re different, don’t look for us to “beat a price” just because it’s what everyone expects (how often have we seen THAT backfire or not be as promised?), we’re about doing things RIGHT over EASY. It’s proven to support our business model time and time again.
Personally, I’ve been in the payment space for a little over 30 years (seems like just yesterday I accepted my role at SPS Payment Systems in Riverwoods). What a wild ride it has been. ?I love this industry, but I have to say seeing where it has gone on occasions (people and businesses) has been a bit of a struggle for me, but at BANKCARD INTERNATIONAL GROUP, plan on seeing that name for some time to come as we build and grow even further doing what is RIGHT.
Thanks for stopping by, giving us a look, and (if you like what you see) for signing up to receive more information as we grow this channel with our friends and family in the business world.
Thank you,
Joe Zahaitis President Bankcard International Group
This week we are proud to feature Attis Trading Co in Portland, OR.? They have an unwavering passion for delivering an exceptional cannabis experience to the wonderful people of Portland, Oregon, and its charming surroundings. Over countless generations, they've dedicated themselves to perfecting the art of cannabis and nurturing their plants with utmost care for our environment.? Growing the world's best cannabis runs in their family blood with two generations of lifelong NorCal and Pacific Northwest growers, Attis makes some of the finest products available.
Their primary mission is to be a supportive pillar for the local community. Whether you're a seasoned cannabis enthusiast or just beginning your journey into the world of recreational and medical marijuana, they extend a warm welcome to you.
Dispensaries face limited options for accepting cannabis payments due to federal cannabis illegality which prevents major credit card networks like Visa, Mastercard, and AMEX from engaging with the industry.? Accepting credit cards or other non compliant payment solutions can lead to dire consequences, including being blacklisted on the MATCH list, having funds frozen, risking cannabis license revocation, incurring high fees, and suffering negative public perception. While the industry awaits potential federal changes, dispensaries must tread carefully in navigating payment solutions to minimize risks and ensure a positive customer experience.?
In out latest blog we highlight the 5 Damaging Effects of Non-Compliant Cannabis Credit Card Solutions.
As the federal stance on cannabis evolves, dispensaries must navigate these challenges while seeking compliant payment solutions to have a positive customer experience and long-term success in this competitive market.
In out latest blog we highlight the 5 Damaging Effects of Non-Compliant Cannabis Credit Card Solutions.
领英推荐
Once again the #SAFERBanking has been a trending topic in the cannabis industry this week.? With a quick approaching vote coming on the 27th, many are making predictions as to the effect the bill will have if it is passed.? This bill would be one of the biggest steps forward that the industry has seen, but it won't be as far reaching as many think.
That being said we have to take our wins in steps and if the SAFER Banking Act passes it will be good reason for the industry to celebrate as well as be a stepping stone to further reform.
Did you know that there is a common misconception that if the SAFE Banking Act is passed that it will also open up credit card payments??
Unfortunately, this bill only provides financial instititions with much needed clarity and guidance as to their risks and responsibilities for providing depository accounts.? It does not address the ability to facilitate payments for cannabis.? However, its guidance could serve as legal precedence to do so.? I will leave that one up to the lawyers.
In the meantime, regarless of what other providers say, accepting credit cards for cannabis remains unatainable in a transparent environment.? Here are some simple facts:
So what do you think - will SAFE stall out again for the umpteenth time or did the HHS recommendation give them the needed push to actually get it done?
Infographic of the Week
In payment processing there are a lot of deceptive tactics and misinformation.? When you combine that with the cannabis industry, those problems are exponential.? Knowingly or unknowingly using a deceptive, illegal, or non compliant payment scheme can have lasting effects for dispensaries.
To help business owners understand the importance of doing due dilligence on the payment processor they chose to work with we have put together a brief infographic for the 5 Damaging Effects of Non-Compliant Cannabis Credit Card Solutions.