They don't take MasterCard and stuff now. Bc the credit companies don't want anything to do with marijuana or the money that comes from it. That's why most overseas seed banks don't take them now. It's ignorant.
Just so you guys understand, here's the problem --
1. Credit card processors - they're called merchant accounts - specifically say in their terms & conditions that you can not sell marijuana products using their services. I think it may even specifically say cannabis seeds. If you're curious, you can probably find this yourself if you want to read through all the small print for getting a merchant account.
2. There are some small-ish processors who specialize in high-risk businesses who will work with us anyway. You either have to go through one of them or you put up a front & try to hide what you're selling. Either way, if you get caught, and everyone gets caught eventually, you get slapped with at least a $25K fine.
3. They charge outrageous fees (like 10% of the sale) plus they usually don't pay out for 30 days (that means we don't get the money from your order for at least 30 days after the charge clears, and they keep a 10% rolling reserve - that means they keep 10% of what you paid for 6 months instead of 30 days. Think about it - that would give most businesses a huge cash flow problem.
4. These people have every excuse in the book to not pay us. So, the 30 days eventually turns into 45 days, or 60 days. And, they even give us the whole the check is in the mail excuse, but it's more like we've initiated the transfer, you should see it any day now. Then, a week or more later, they find the problem and give us another excuse, like a whole days worth of transmissions just didn't go through, or got hung up at a clearing house.
5. If we have to refund anyone, they charge us so much in fees that it ends up costing us the refund plus about the same amount, so we lose out twice.
So, that's pretty much the deal. We would love to be able to take credit cards, Attitude would love to take them too, and so would all the other seed banks who've been hit by this crap.
It's also part of the reason why seeds are so expensive these days.
