Cannabis Merchant Account 2018-02-06T06:48:35-08:00
Zero Fee Commerce is a direct Visa® and MasterCard® credit card processor. We serve the payment needs for merchants and merchant associations. More
Zero Fee Commerce serves independent sales organizations. Our extensive knowledge, competitive pricing and cutting edge products equal more sales and higher margins for your sales office. More
Bankers know customers will do business with the financial institutions that can deliver the products they need. More

Get a Cash Advance for Your Business!

In today's economy, obtaining a small business loan can be a slow and difficult process.

Get In Touch

Phone: 800.928.2237

Fax: 858.866.4262

  • SWIFT to Test CBDC Ability to Facilitate Cross-Border Payments
    SWIFT, the global provider of financial messaging services, is looking at tests to link various central bank digital currency (CBDC) networks for cross-border transactions, a report said Saturday. SWIFT has tapped Capgemini, the French information technology services and consulting company, to help with this. According to SWIFT, the blind spot for CBDCs might be that […]
  • Bidding for Kohl’s Reportedly Cools as Lenders Are Put Off by Q1 Results
    The deal to sell department store Kohl’s might have hit some hurdles due to financing troubles, Seeking Alpha reported Saturday (May 21). The deal cannot get financing in the $60 per share range, according to an anonymous source cited by CNBC, and lenders reportedly don’t have confidence in Kohl’s after the company reported its Q1 […]
  • Square, VROMO Partnership to Help Restaurants Add Delivery to Menu
    Delivery software solution VROMO, which works in the restaurant sector, is partnering with payments company Square to allow more companies to utilize VROMO’s delivery and third-party fleet options, the company announced Saturday (May 21). VROMO’s work automates delivery management and features things like driver ETA, order stacking, branded order tracking and messaging for drivers and […]
  • 30% of UAE SMB Customers Pay Online Using Digital Wallets, Highest in 6-Country Study
    Digital wallets, including PayPal, Apple Pay and Google Pay, have grown in popularity in recent years and can be an important payment feature for global small- to medium-sized businesses (SMBs) to provide to their consumers. Read the report: 2022 Global Digital Shopping Index - SMB Edition According to a recent cross-country study of close to […]
  • Paytm Expects India’s Central Bank to Allow It to Take on New Customers Within a Few Months
    Paytm has said it is optimistic that India’s central bank will let it accept new customers in the next few months, Reuters wrote Sunday (May 22), after the Reserve Bank of India (RBI) ordered an audit of the company’s IT systems and blocked it from taking on new customers in March. The audit came as […]
  • IOU Financial Was Profitable in Q1
    IOU Financial may have originated $59.6M in small business loans in Q1, but the company also managed to do it profitably. Specifically, IOU recorded net earnings of $1.1M in Q1 2022 compared to a $100,000 net loss over the same period the year prior. “IOU Financial continues to deliver on its promise to stakeholders by […]
  • Prosper Marketplace Receives Full Forgiveness of Its SBA Loan
    Three months after the SBA told a Sioux Falls small business lender that it wasn’t eligible for PPP loan forgiveness because it was involved in lending, the same agency approved full forgiveness for one of the nation’s largest consumer lending businesses, Prosper Marketplace. “On March 21, 2022, we were notified by the SBA that all […]
  • Fundworks Completes $30.0 million Investment Grade Notes Offering
    VAN NUYS, CA. MAY 17, 2022: The Fundworks, LLC, a leading a tech-enabled small business finance company, announced today the closing of $30.0 million of Senior Secured Notes to a group of institutional investors. This transaction refinanced the Company’s existing $20.0 million of Senior Secured Notes and provides substantial excess capital to fund the continued […]
  • Senior Business Lending Exec of Square Has Moved to Coinbase
    Ronak Daya, who spearheaded several of Square Capital’s lending divisions, including “head of product for business lending” and “head of product for external lending and partnerships,” announced on twitter that he had moved on from the company. He had been involved in SMB lending for 7 straight years. His new role? Head of Financing Products […]
  • Ready Capital Small Loan Closings Reach New Growth with LenderAI
    Last week, Ready Capital Corporation announced another company record for small 7(a) loan closings in the $10,000 to $350,000 range. Originating 55 such loans in April, the company attributed its success to the use of LenderAI by iBusiness Funding LLC, a subsidiary of Ready Capital. LenderAI is a technology platform comprised with an easy-to-use suite […]

Zero Fee Commerce is introducing a bank sponsored payment service for the cannabis industry.

Cannabis businesses may now open merchant accounts to accept PIN debit cards.

Zero Fee Commerce is leading the way by offering this service nationally in the United States and Canada.

What the Zero Fee Commerce solution offers:

    • A Bank Sponsored Merchant Account

    • Payment Service for PIN Debit Transactions

    • A Surcharge may be Recovered in Dollar Increments

    • On-Line Reporting and Statements

    • API Integration into POS Software and Seed to Sale Software

    • Wireless Processing for Delivery and Mobile Business

For years, to accept credit cards, cannabis businesses  “merchant account hopped”, or set up less desirable payment options. Cannabis shops would set up merchant accounts in another businesses name. This could result in bank fines and being placed on a “terminated merchant list”, which is not a viable solution. Cannabis shops could use ATM machines or point of banking terminals, (many of which are not bank sponsored). Additionally, ATM machines are expensive and have the additionally large task of managing cash.

There have also been alternative payment options such as offshore processing accounts and online wallet accounts which use an aggregating type of solution whereby a 3rd party re-sends funds to make deposits. These solutions also have one thing missing.  They do not use a sponsoring bank to process the wires or ACH transactions. Many times, the 3rd party aggregation is not informing their sponsoring bank about the nature of these transactions.

Zero Fee Commerce merchant account has none of these issues.  Zero Fee accomplishes this by processing only debit card payments which utilize debit networks, and avoid processing through the Visa and MasterCard and American Express networks. This allows the sponsoring bank and the businesses utilizing Zero Fee’s solution to avoid the regulations imposed by card associations.

Improve your customer experience with Zero Fee’s bank approved merchant account. Process transactions securely and avoid liability. Contact Zero Fee Commence today to establish an account.

Please contact Zero Fee Commerce Today at:

1 (877) 382-1044