Imagine walking into your working environment one morning and learning that the credit card services had been terminated overnight. They certainly were take off not for insufficient payment and not if you are involved in an illegal business, but rather these were take off for indeterminate “unacceptable business practices.” This can be a reality facing many owners of medical marijuana dispensaries who get “creative” with their applications; and in the event that you fabricated your application it could be a legitimate termination – but that isn’t always the case.
Left Without Service
The story above isn’t uncommon. It simply happened recently to Alternative Medical Choice, Inc., a consultation service situated in Oregon. TLC collective What does AMC do this got them in some trouble with their company Intuit? AMC is a company which provides consultations with doctors for the approval of medical cannabis use under Oregon law. Even though the clinic doesn’t dispense or distribute medical cannabis, it’s lost its services.
Intuit states that they terminated services because AMC did not reveal its involvement with medical marijuana. When further questioned about terminating some 3000 other accounts they hold with clinics offering the same services, they stated that they’d not be terminating those accounts because they didn’t feature medical cannabis on the web pages. AMC offered to remove the reference, but Intuit won’t reestablish the account because “now we know.”
PayPal, the internet payment service, has additionally terminated accounts connected with medical marijuana consultation references.
DEA, FDA, IOM and Other Alphabet Soup
The main problem businesses face stems from the question of whether or not marijuana is actually medicinal. The DEA and the US government hold the position that smoking marijuana has no medical value. The American Cancer Society, the AMA and the AAP all agree totally that smoking isn’t an optimum method by which to achieve any benefits, if they exist. Alternate ways of ingestion are being investigated.
Even the large Institute of Medicine study frequently cited by proponents of medicinal marijuana actually opposes the use of smoked marijuana for medical benefits. The analysis unearthed that there have been some “potentially therapeutic” benefits to cannabinoid drugs, primarily THC, but that other available medications offered better results. Having less standardization, the technique of dosage and other factors all result in the IOM rejecting the thought of more studies.
Where Do We Go Next?
The same as a great many other hot potatoes, few people want to take care of this one. For many who have opened dispensaries, the challenges involved in obtaining traditional financing, accounts and services have sometimes become overwhelming. For other individuals who remain available, alternatives are available.
While selling cannabis online remains illegal, the Internet is a great place to search for companies willing and even wanting to enter the market. By searching especially for merchant account providers acquainted with the risks involved in legal medical marijuana sales, entrepreneurs will find the services they might require without obfuscation.
With 15 states and the District of Columbia already de-criminalizing the sale of marijuana products for medicinal purposes it is likely that the problem should come to a head soon. Some states, such as for example California, are preparing to charge dispensaries sales tax on all their transactions – leaving this kind of cash cow alone when state coffers are stripped bare is unimaginable. The question remains: how will the federal government react to the move?
Is it About Money or Perception?
It is straightforward to imagine the us government moving in either direction.
Cannabis remains illegal in all of the world, and possession is known as a capital offense in several countries. The US government is unlikely to want global opinion to be so effected. On the other hand, the taxes supplied by legalizing a currently flourishing industry could reach $2-6 billion.
Unfortunately for merchants, there is no conclusive argument at this time. Obtaining business services will remain difficult and sudden terminations likely until all government agencies, state, local and federal are on a single page.Read More No comments