The state’s substantial experience regulating the cannabis industry has resulted in a streamlined application process and relatively common-sense regulations for dispensaries. The first step is to create an account and submit an online application. You will be required to submit a $4,000 fee at the time of submission.
Once approved, you will need to complete a background check and pass a readiness inspection. This is the final step before you can begin operations. You will also need to pay an annual Cannabis Tracking System fee of $480.
Currently, adults ages 21 and older can lawfully purchase cannabis from an authorized dispensary. This includes those with and without a medical marijuana license. However, it is important to note that the lawful possession limits vary between recreational and medical purchases.
For more information on how payment processing laws in the state of Oregon can affect your cannabusiness,contact a Paybotic representative today.
As previously detailed, many Oregon-based dispensaries still operate on a cash-only basis. This is because of federal laws and regulations that limit or discourage financial institutions from doing business with cannabis merchants.
While conducting sales exclusively in cash may seem like the simple solution, it presents many unforeseen risks for a business. Managing large amounts of cash makes stores vulnerable to theft and other criminal acts. Preventing these issues will require an investment in significant security measures.
Operating a cash business will also make it difficult to effectively pay taxes and accurately report earnings, potentially exposing a dispensary to significant financial liability. The optimal way to manage sales is to partner with a proving payment processing firm like Paybotic. We offer a full suite of services and can help you maximize profitability without the risks of cash-based transactions.
Our services include:
Paybotic works with a variety of businesses within the Oregon cannabis industry, including:
We have solutions to meet the needs of any high-risk cannabis industry. If you want to capitalize on the ever-expanding Oregon cannabis market, then you need to partner with Paybotic! Contact us online today to learn more!