- November 23, 2018
- Posted by: ipaytotal
- Category: Cannabidiol & Hemp Payment Processing, Cannabis Banking & Payment Processing Solutions, cannabis industry merchant processing, Cannabis Merchant Accounts, CBD and Hemp Businesses, Credit Card Payment Processing for Medical Marijuana Merchant, E-Commerce, Fraud Prevention, hemp oil merchant account, high risk merchant account application process, high risk merchant account instant approval uk, high risk merchant account solutions, Medical Marijuana Merchant Accounts, Merchant Account for CBD Oil Company, online payments
It’s been around a month since Canada has legalized cannabis for recreational use and cannabis merchant services are in full impact. It is so wildly famous that dispensaries — medical and recreational — can’t fulfill the demand. Customers are paying for the product via credit card, debit card, and of yes for sure, cash. Apart from the shortage of product, all seems to be well. The U.S. is monitoring. And losing out on sales.
Though miracles do happen, the U.S. has many obstacles to overcome before it takes the steps that Canada and Uruguay did. Proper cannabis merchant services can still be years away for a myriad of reasons: opinions and misunderstanding, politics, opposition groups, etc… During the seminar, there were four countries discussed as proactively setting their respective frameworks for legalization, none named the U.S.
During the seminar ‘Marijuana Business MJBizCon 2018’, there were four countries discussed as proactively setting their respective frameworks for legalization, none named the U.S.
Though in Israel cannabis is not legal still Israel is a world leader in cannabis research, having legalized medicinal marijuana in 1992 with research roots going back as far back as 1960. Back in 2016, Israeli pediatricians began functioning clinical trials on autistic children and adults also adults with Crohn’s disease. In 2017, the National Center for Research in Medical Cannabis set up at the Hebrew University of Jerusalem. One of the drivers of lawful cannabis in Israel is that, as compared to the U.S. government, Israel has far fewer restrictions when it comes to research.
Perhaps in an unorthodox manner, the nation of Macedonia has dived directly into the cannabis industry. With a government that sides to the right, it was a decision that stunned many when it reconstituted cannabis in February and legalized it for medicinal acts (In fact, Macedonia’s citizens were not even consulted). It has since shifted quickly in regulating growth and prescription and permitting only certain professionals the power to provide prescriptions: public health specialists such as neurologists, oncologists, radiologists as well as medical professionals structuring in infectious diseases.
However, the swift timeline and the order of events in which Macedonia shifted to decriminalization underscores the fact that it is open and committed to searching the advantages of the cannabis market. Legalization could be soon, paving the way for cannabis merchant services.
In 2016, the Turkish government made lawful growth and production in 19 provinces under huge regulations in order to put down on illegal production and black market surge. Among those regulations include:
- Growers indicating proof they have never been included in illegal cannabis or narcotics production.
- Government tracking.
- Three-year renewals for growth licenses
- Disposal of all parts of the cannabis plant after harvest to prevent illegal sales
Though limited to 19 provinces, the Turkish government alerted it is open to granting such privileges to other provinces for scientific purposes. The move may echo the sentiments most U.S. growers and sellers wish the federal government would put up with complete legalization: it would artificially prevent black market operations, yet be under the watch of the feds.
United Kingdom (England, Scotland, Wales)
Canada’s influence is scattering overseas.
Cannabis is the most commonly used illegal substance in the U.K., and there is a sincere movement to legalize cannabis for recreational use. It has the support of plenty of politicians (Home Secretary Sajid Javid, liberal Democrats, and the Green Party), professionals (Steve Rolles, drug policy expert) and even prominent celebrities (Sting, Sir Richard Branson, and Russell Brand).
Medical cannabis has recently made legal in the U.K. via prescription on Nov. 1, led by its calming effect on epilepsy patients and others who suffer cut down. However, Mr. Rolles claimed to The Independent that, with Canada as the world’s litmus test, making legalized for recreational purposes could occur within five years.
“The tide has moved,” Mr. Rolles explained to The Independent. Canada is a G7 country and one of the largest commonwealth countries. We desire the U.K. and many others to follow the footsteps in the next five years so that they can make put government, not gangsters under the grip of the production and supply of cannabis.”
iPayToTal on the cusp of cannabis merchant services
Ipaytotal is convinced that the U.S. is near to legalizing recreational cannabis, for several reasons:
- We understand and hope our government sees the advantages from Canada’s move to legalize last month.
- We feel, like alcohol, it will cede control from drug dealers to national and state government officers.
- That deviations in legal and medically legal states are eager for a legitimate banking system overseen by the Federal Trade Commission.
Finding a Processor
Always look for high risk service providers for credit card processing in case of CBD products. You can compare pricing from various service providers and then select the best one for yourself.
Every merchant account approved by iPayTotal and its acquiring banking partner includes access to the approving bank’s payment gateway. To learn about CBD Oil Payment Processing, call us at +44 800 776 5988 or click here to set up your personalized payment consultation.