Credit Card Payments: How to Increase Revenue by Accepting Credit Cards

There’s no doubt that accepting credit card payments is a perfect way to boost your business sales, improve cash flow, and increase customer experience. No matter the size of your business, the ability to accept online payments is a must-have. Due to the advancement in technology, it’s never been this easy for companies to accept credit cards or other online payment options.

After the detailed analysis, one of the most eye-opening stats that came to light was – small companies that deliver flexible payment solutions to their customers improved their revenue rate by 30%. This is one solid reason to opt for credit card payments; otherwise, the list is quite comprehensive. Overall, you can say that accepting credit cards is a great way to increase your business revenue by approx 30%.

The Importance of Understanding How to Accept Credit Card Payments

With the advancement of payment platforms technology and decreasing cash use, you cannot understate the importance of understanding how to accept credit cards, debit cards, and gift cards for payments. It is necessary to ensure that your business accepts credit cards in order to survive in this industry.

We have noticed a common trend in companies, where businesses that switch from accepting cash-only payments to cash and credit card transactions noticed an improvement in their business revenue by 30%.

Cash payments are simple and great. That’s why it is essential to start accepting credit card payments. The acceptance of credit card payments is linked to the stability and growth of a company. Being open to multiple payment options for your business services and products will help you grow faster. Forget about the development of your company if you don’t accept any other payment method than cash.

Now the question is, if credit card payments are so essential, then why businesses are finding them so complicated. We understand this issue; therefore, we prepared this guide to show business owners what kind of payment options are available.

Choose the Right Credit Card Processor Based on Your Business Type

No matter whether you own a mobile, brick-and-mortar, or online credit card processing method, you will be able to understand what type of payment system will work for your company.

Mobile Systems

Mobile payment systems are ideal for companies that are in between an offline and online business. If you think you need to accept credit card payments while on the go, adding a mobile system to your payment processing solution can be a great pick. You have two options to pick from, such as:

  • Mobile POS
  • Mobile Payment Apps

Brick-and-Mortar Systems

Brick-and-Mortar payment systems are suitable for businesses that carry out most of their business operations in-store. These payments include:

  • POS Systems
  • Credit Card Terminal

Online Systems

Online payments are best for companies that handle most of their business through an online store or an eCommerce platform. Companies that process most of their transactions online definitely require an online credit card processor. If you want to become an online business, go for an online payment system as soon as you can. When it comes to picking a payment system for online businesses, select any of the following:

  • Virtual Terminal
  • Payment Gateway

What Makes a Good Credit Card Processor

Whether your business accepts in-store, on the go, or online credit card payments, make sure to pick a credit card payment processor that meets your needs the best. Are you looking for a credit card processor but don’t know where to begin? Here you will find what makes a sound credit card processor:

  • A credit card processor must be able to accept cards from all credit card service providers. Cards from a card service provider, such as Mastercard, American Express, and Visa should be compatible with all processors you pick.
  • They must put your requirements above anything else. You can guess this through the fees they take from you. Do they charge you a flat rate? Or are they charging you an extra fee? An ideal credit card processor will charge you as low as possible.

If you want your company to increase revenue by accepting credit cards, make sure to choose the right credit card processor that can help you the most. Compare the pros and cons of different systems and decide which one makes the most sense for your company.


So, is your business accepting all major credit card payment options? If not, this is the high time to update and modernize your payment options. Credit card payments are fast becoming the preferred payment option for small companies across the globe. Overall, increase your business revenue by accepting credit cards from customers to process payments.

Besides, make sure your credit card payment processor optimizes PCI (Payment Card Industry) compliance as well. This will ensure the safety and security of your customers’ data and keep your company away from PCI compliance charges.

Marijuana Credit Card Processing: Why Is It So Complicated?

Currently, marijuana is legal in several states, and it can be legal in your state as well. But wait, does that mean you can pay for marijuana with your credit card? There are two answers to this:

First: Maybe. Some dispensaries claim to accept credit cards.

Second: No. According to experts, the major card service providers do not allow businesses to use their cards for purchasing marijuana. They don’t even have any merchant code for these purposes. If a merchant uses a credit card for marijuana purchases, the credit card company will block that card immediately for violating the policy. They do so because marijuana or cannabis is still an illegal compound under the federal law.

Now, it is clear that major credit card networks do not allow marijuana credit card processing. So, without the option of credit cards, cash becomes the primary option of payment to buy marijuana from a cannabis dispensary. However, not allowing people to purchase marijuana through their cards can lower sales and revenue for marijuana dispensaries and stores. Let’s explore some of the ways merchants are currently running transactions.


Cash Payment

For maximum store or dispensary owners, cash is a burden rather than a help. When marijuana dispensaries only accept cash payments, it automatically decreases sales. Because credit card companies don’t allow marijuana purchases, if they accept marijuana card deposits, the federal government authorities could close down their services. As a result, all cannabis transactions are made in cash, such as buying from vendors, paying taxes, and more.

Payment via ATM

Many dispensaries use different types of on-location ATMs to conduct payments. Usually, the ATMs at a marijuana store can do the following two things, such as:

  • Enable consumers to withdraw cash directly from their bank accounts.
  • Allow people to exchange their cash in bank accounts for vouchers, which can be used as in-shop credit for the cannabis business – this is referred to as “cashless ATM.”

The whole process of using cashless ATMs is similar to regular ATMs; only instead of getting cash, you will get a receipt that says you may use the specific amount on that slip to make your marijuana purchases at a dispensary.

This type of dispensary transaction option is way more comfortable than cash payments but comes with several risks. If you check your payment status after making an ATM transaction for marijuana, you might find it listed at a flower store or health food shop. That means you are lying to your bank about the business, making it a high-risk payment option.

Also, Using ATMs for transactions is quite expensive for both businesses as well as customers. Business owners have to pay a monthly charge to use those ATMs and consumers have to pay a terminal fee. And for cashless ATM payments, the fee is even more.

Mobile Payments

Another option is to pay through apps using your mobile phone. There are several mobile apps that can be used to pay for marijuana purchases. These apps are generally linked to the users bank account. When you pay using these apps, the money deducts from your account automatically. Overall, mobile apps are an efficient method to process cannabis payments in marijuana stores.


Marijuana Industry – A Growing Field with Increasing Needs

As the demand for marijuana is increasing every day, flexible payment options have also become a necessity. States which allow operating recreational dispensaries or stores are shaping the marijuana or cannabis industry. They have prepared state by state guidelines to maintain legalization and benefits. The cannabis industry is quickly turning into a multi-billion dollar market.

To allow marijuana credit card processing, cannabis businesses have to rely on high-risk processors. This is the only way to authorize credit card payments at stores so far. These systems utilize encrypted technology for secure and private transactions. By optimizing transactions through this method, credit card transactions process in proper accordance with the federal level.


Merchant ePay can help your dispensary process credit cards with a fully FDIC insured platform. The system allows you to accept all major credit cards as well as features like adding tips and surcharging.


Absolutely! Our proprietary P2P solution is completely legal in all 50 states in the U.S. with more areas coming soon. This solution works for retail dispensary payment processing, cannabis merchants, hemp oil, CBD vape, and medical marijuana dispensaries. Federal governments can regulate substances and payments on the federal level. Credit card processing for hemp, cannabis, and marijuana merchants is completely legal when you follow processing and banking regulations and federal laws.


It’s not for merchants who want to sell cannabis in states where it has not been approved. Our cannabis card processing solution is only available in the 33 states in which the sale of cannabis is legal to purchase and sell. This is NOT an e-commerce solution.

This solution is designed for those that have a brick and mortar storefront or offer curbside pick-up. Delivery is allowed as dictated by local and state laws.