- Joined
- Oct 8, 2012
- Messages
- 27,001
- Reputation
- 8,838
- Reaction score
- 76,574
- Points
- 0
- Website
- www.autoflower.org
PayPal can’t have anything against donations do they.?
Doesn't matter who the processor is; on a federal level cannabis is an illegal, controlled substance in the states. Whether your backed by FDIC or other government related financial institutions, it's still illegal money on a federal level no matter how you slice it. This is the NUMBER ONE reason no one likes to play ball with cannabis when it comes to merchant processing (and why you keep hearing the words "cash business" when it comes to the cannabis industry.) At any point in time, the government could decide ALL your money is potentially illegal cannabis money, making it incredibly uninviting to get into. Even with the strong movement in hemp in the states right now, merchant processors are still taking a huge dump even on CBD-based business on hemp derived products.
When you apply for merchant processing for a business, there's usually a risk assessment (they ask and find out about your business.) Once they catch wind or the notion that you might be selling seeds, it's game over. There -are- merchants out there that may work with individuals, but few and far in between and often times it's under false pretense lol...