Imagine walking into your working environment one morning and finding out your bank card services have been terminated overnight. They certainly were cut off not for not enough payment and not for being involved with an illegal business, but rather they were cut off for indeterminate “unacceptable business practices.” This can be a reality facing many owners of medical marijuana dispensaries who get “creative” making use of their applications; and if you fabricated your application it can be quite a legitimate termination – but that isn’t always the case.
Left Without Service
The story above isn’t uncommon. It happened recently to Alternative Medical Choice, Inc., a consultation service based in Oregon. What does AMC do this got them in some trouble making use of their company Intuit? AMC is a business that offers consultations with doctors for the approval of medical cannabis use under Oregon law. Even although the clinic does not dispense or distribute medical cannabis, it’s lost its services.
Intuit states they terminated services because AMC didn’t reveal its involvement with medical marijuana. When further questioned about terminating some 3000 other accounts they hold with clinics offering exactly the same services, they stated that they’d not be terminating those accounts because they didn’t feature medical cannabis on their web pages. AMC offered to get rid of the reference, but Intuit won’t reestablish the account because “now we know.”
PayPal, the web payment service, in addition has 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 if marijuana is actually medicinal. The DEA and the US government hold the career that smoking marijuana does not have any medical value. Jungle Boys marijuana The American Cancer Society, the AMA and the AAP all concur that smoking isn’t an ideal method by which to get any benefits, should they exist. Alternate methods of ingestion are now being investigated.
Even the large Institute of Medicine study frequently cited by proponents of medicinal marijuana actually opposes the usage of smoked marijuana for medical benefits. The analysis found that there have been some “potentially therapeutic” benefits to cannabinoid drugs, primarily THC, but that other available medication offered better results. The possible lack of standardization, the strategy of dosage and other factors all lead to the IOM rejecting the idea of more studies.
Where Do We Go Next?
Just like a great many other hot potatoes, few people want to deal with this one. For folks who have opened dispensaries, the challenges involved with obtaining traditional financing, accounts and services have sometimes become overwhelming. For other people who remain in the business, alternatives are available.
While selling cannabis online remains illegal, the Internet is a good place to look for companies willing and even eager to enter the market. By searching designed for merchant account providers acquainted with the risks involved with legal medical marijuana sales, entrepreneurs will get 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 probable that the problem will come to a head soon. Some states, such as for instance California, are planning 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 us government respond to the move?
Can it be About Money or Perception?
It is simple to assume the federal government moving in either direction.
Cannabis remains illegal in all the world, and possession is recognized as a capital offense in lots of countries. The US government is unlikely to want global opinion to be so effected. On another hand, the taxes provided by legalizing a currently flourishing industry could reach $2-6 billion.
Unfortunately for merchants, there’s 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 for a passing fancy page.