Michigan cannabis dispensaries are supervised by the Marijuana Regulatory Agency (MRA). The MRA is responsible for licensing both recreational and medical dispensaries. However, dispensaries that exclusively provide medical marijuana are referred to as “provisioning centers.”
Currently, there are six types of licenses that the MRA issues. These are as follows:
The first step in obtaining a license is to submit a pre-qualification application. During this phase, you and all applications will undergo a thorough background check.
Phase two requires that you provide the MRA additional information, which will vary based on the desired license. The license fee will also vary. For example, the Class A grower fee is $4,000 and the microbusiness fee is $8,000.
Breaking into the lucrative but complex Michigan cannabis market requires a substantial investment. The best way to protect your assets is to find a knowledgeable Michigan ISO partner like Paybotic. We can help you navigate this complex industry and optimize your opportunities for profitability.
If you need any further information on how state-specific payment processing laws in Michigan can affect your cannabusiness, contact a Paybotic representative today.
Unlike traditional financial institutions, Paybotic provides payment processing solutions to high-risk merchants. We offer customizable options to meet the needs of any business. These include:
When it comes to payment processing solutions, you will not find a more dynamic or knowledgeable partner than Paybotic.
Paybotic has developed a reputation for being the best payment processing partner for high-risk businesses. The benefits of partnering with us include:
If you are ready to optimize the way you do business, then Paybotic is ready to help! You can contact us at the link below for more information or to start an application. We have a 99.9% approval rate and respond to most applicants within 48 hours.