As the cannabis industry continues to grow, so does the need for reliable and secure payment processing solutions. That’s where Weedmart.io comes in – a payment gateway designed specifically for the cannabis industry. In addition to offering a user-friendly platform and top-notch customer support, one of the key benefits of using Weedmart.io is their transparent pricing model.
One of the biggest challenges for cannabis merchants is finding a payment processor with reasonable rates and fees. Many traditional payment processors shy away from working with the cannabis industry due to the complex regulatory landscape and legal gray areas surrounding cannabis. As a result, many cannabis businesses are forced to pay exorbitant fees or resort to cash-only transactions, which can be risky and inconvenient for both customers and merchants.
Weedmart.io’s transparent pricing model aims to solve this issue by providing clear and upfront pricing information to merchants. There are no hidden fees or surprise charges – everything is laid out in a clear and concise manner. This level of transparency allows cannabis merchants to make informed decisions about their payment processing needs and avoid any unpleasant surprises.
So, what exactly does Weedmart.io’s pricing model entail? Let’s take a closer look
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Transaction Fees
Weedmart.io charges a flat rate of 2.9% + 30¢ per transaction. This rate applies to all credit and debit card transactions processed through the platform, regardless of the card type or issuer. This means that merchants can avoid the high fees typically associated with processing certain types of cards, such as rewards cards or corporate cards.
Monthly Fees
There are no monthly fees associated with using Weedmart.io’s payment gateway. This means that merchants only pay for the transactions they process, without any additional overhead costs.
Chargeback Fees
Chargebacks can be a frustrating and costly aspect of running a business, and cannabis merchants are no exception. Fortunately, Weedmart.io offers chargeback protection to all of their merchants. In the event of a chargeback, Weedmart.io will work with the merchant and the card issuer to resolve the issue. If the chargeback is found to be valid, Weedmart.io will cover the cost of the chargeback up to $250. However, if the chargeback is found to be fraudulent, the merchant will not be held liable.
ACH and E-check Payments
In addition to credit and debit card payments, Weedmart.io also offers ACH and E-check payment processing. The fees for ACH and E-check payments are slightly different from credit and debit card transactions. ACH payments are charged a flat rate of 1%, with a minimum fee of $1 and a maximum fee of $10. E-check payments are charged a flat rate of 50¢ per transaction.
In conclusion, Weedmart.io’s transparent pricing model is a major benefit for cannabis merchants looking for a reliable and affordable payment processing solution. By offering clear and upfront pricing information, Weedmart.io allows merchants to make informed decisions about their payment processing needs and avoid any unexpected costs or fees.
With top-notch customer support and a user-friendly platform, Weedmart.io is a great choice for cannabis merchants looking to streamline their payment processing operations.
Laura McQueen is a writer for MJGreenNews.com.
She has been writing for different cannabis websites and publications since 2018.
