Massachusetts Cannabis Dispensary Payments Processing, MMJ Banking & POS

State-Specific Cannabis Dispensary Regulation for Massachusetts

To obtain a cannabis dispensary license in the state of Massachusetts, one must claim responsibility for growth, manufacturing, and sales of marijuana. This means dispensary owners must also obtain a cultivation license, which are granted on a tiered basis.

The cost of a cultivation license depends on whether your dispensary will grow cannabis indoors or outdoors, but the fees associated with licensing range from around $100 to $600. Following approval, applicants will pay another fee—typically between $625 to $12,500 for indoor cultivation and $1,250 to $25,000 for outdoor cultivation.

Cultivation is separate from the manufacturing and dispensary licensing that retailers will also need to acquire. A manufacturing license amounts to around $300 for an application and $5,000 for the license itself. For dispensaries, the stage 1 license costs $1,500 to apply for and $50,000 upon approval. In stage 2, the application cost is $30,000 and the license costs $50,000 once approved.

Regulations Massachusetts dispensaries must adhere to include:

Customers must be 21 years of age or older and show valid, government-issued identification before purchasing products.
Retailers must track and report all cannabis sales and pay retail taxes to the Massachusetts Department of Revenue using MassTaxConnect.
Customers can only purchase one ounce of marijuana per day from a retail store and are limited to purchasing six plants at a time.
Customers are not permitted to smoke, eat, or drink alcohol while inside a dispensary.
Dispensaries cannot transport marijuana or marijuana products across state lines without business licenses and permits and a trained employee driver.
Retailers must abide by marketing laws, which include not advertising near minors or minor-related businesses; avoiding medical symbols, images of marijuana, or marijuana-related items in advertising; and not using slang, such as “weed,” to market cannabis products.
Dispensaries must adhere to strict packaging regulations, clarifying the risks of using marijuana and the age limit on purchasing products. Packaging must also be child-resistant, indicate if there are multiple servings inside, and feature a note specifying that the product has not been approved by the Food and Drug Administration (FDA). Further details about proper packaging can be found here.

Still need more information on payment processing laws in the state of Massachusetts and how they can affect your cannabusiness? Contact a Paybotic representative today for assistance.

Call Now

Massachusetts Cannabis Payment Processing Solutions

Navigating the payment processing regulations surrounding cannabis can prove an overwhelming task, even for those well-educated on the requirements. This is especially true for a state such as Massachusetts where recreational cannabis has only been available on the retail level since 2018.

Even in an industry with constantly changing regulations, Paybotic can help cannabusiness operators in Massachusetts maximize their profits while providing greater convenience to customers and accurate overall compliance. With a full suite of payment processing options available, Paybotic is ready to help any high-risk business in the cannabis industry at a moment’s notice.

Contact Paybotic today for more information on how our services can meet the payment processing needs of your Massachusetts cannabusiness—or read on below to learn more about cannabis law in The Bay State.

How Paybotic Can Help with Cannabis Payment Processing in Massachusetts

Paybotic solves payment processing headaches for Massachusetts retailers by offering solutions that streamline transactions while adhering to all of the regulatory requirements.

Our offerings include:

eChecks: With the help of Paybotic, your dispensary can set up a system that accepts electronic payments with ease. This takes time away from managing invoices and provides convenience to both your company and your customers.
Debit processing: Debit cards are one of the most common payment methods nowadays, and Paybotic can assist your company with accepting PIN-based debit payments for your products.
Gift cards: If you have not implemented a gift card program yet, Paybotic can help you establish one. This will add another option for customers to make purchases and give them the opportunity to introduce new customers to your store through gifting.

To learn more about what Paybotic can do for your company, contact us today.

Our Solutions

Cannabis Legalization History in Massachusetts

Medical marijuana was legalized in Massachusetts in 2012, but it was not until 2016 that recreational cannabis became legal in the state. Voters brought about the right for adults aged 21 or older to grow and possess the substance via a ballot initiative on November 8, 2016.

The law became effective on December 15, 2016, though the first retail sales of marijuana didn’t occur until two years later. That’s because the Massachusetts Legislature voted to push the emergence of legal retail sales back by six months, moving the date from January 1, 2018 to July 1, 2018. During that time, legislators and legalization advocates constructed regulations that are now overseen by the Massachusetts Cannabis Control Commission.

Massachusetts’ first two cannabis retailers opened for business on November 20, 2018. Since then, the industry has surpassed $1 billion sales—with more than 80 dispensaries operating throughout the state. The Cannabis Control Commission also gave the green light for marijuana delivery services in September 2019, highlighting just how much this market has evolved in Massachusetts over the past decade.

Get Started Today!

View All Markets

View Next Michigan

Industries

Solutions

ISO Partners

About Us

Learn

Connect