While the market grows and states become more open to legalizing either medical or recreational marijuana, the challenges to boarding cannabis merchant accounts remains. According to recent surveys, 63% of people believe the federal government should legalize cannabis, but at the federal level, marijuana is still classified as a Schedule I substance. As long as it remains an illegal substance, Visa and Mastercard will restrict transactions involving the purchase or trade of marijuana on their network. These federal regulations make credit card processing a challenge even in states that allow the legal sale of cannabis, as large processors tend to label these accounts as high risk and see them as a liability. The continuing changes to laws and regulations add further complications and liability to merchant accounts that Processors that do board cannabis accounts will often charge higher rates because of the added risk of high chargeback and fraud rates in the industry. Dispensaries that try to go around these restrictions and board their account under a different industry may find their merchant accounts closed and their funds diverted with no warning. Accepting card payments allows you to expand your business and add legitimacy to your business. Being able to accept other types of payment can increase revenue by nearly 40%. It also increases the security of your business, since these limitations force many legal retailers to accept cash sales only, putting their business at greater risk of theft. Accepting card payments allows you to keep less cash in the store, offering greater peace of mind for you, your employees, and your customers who prefer to carry less cash on them.