Note: As of 2022, it appears MMJ Card Processing has rebranded as CannaPay. We will be providing a new profile for CannaPay soon.
MMJ Card Processing Payment Processing
Also known as 420 Credit Card Processing, MMJ Card Processing is a merchant account provider that claims to process credit card payments for marijuana dispensaries. The company appears to be a DBA or subsidiary of Strategic Merchant Partners, a small ISO located in Thousand Oaks, California. MMJ Card Processing is one of only a few credit card processors that advertises a merchant account through a domestic bank that enables marijuana dispensaries to accept debit and credit cards from customers. This is notable because Visa, MasterCard, and most national banks have gone on the record stating that they will not allow their networks to be used for marijuana transactions. MMJ Card Processing states that it can enable dispensaries to accept Visa, MasterCard, Discover, and American Express credit cards and have those funds deposited into a domestic business banking account.
MMJ Card Processing Location and Ownership
Vince Ferro is the CEO of MMJ Card Processing, which is headquartered at 1434 Dorset Avenue Thousand Oaks, CA 91360, which appears to be a private residence. The company does not disclose its banking partners, but this is likely a tactic to deter regulatory scrutiny.
MMJ Card Processing Review Table of Contents
- Costs & Contract: MMJ Card Processing appears to offer variable contract terms depending on each merchant’s business type and processing history.
- Complaints & Service: MMJ Card Processing complaints number fewer than 10 on public complaints forums.
- BBB Rating: MMJ Card Processing (as Strategic Merchant Partners) currently has an “A+” rating with the Better Business Bureau and has received 0 complaints in the past 3 years.
- Sales & Marketing: MMJ Card Processing does not appear to hire independent resellers and has received only 1 complaint related to its sales practices.