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Ask HN: Braintree shut me down with zero notice. Who do I migrate to?

6 points by mfkp ↗ HN
Background: I run an online medical marijuana evaluation service (which is 100% legal via state and federal laws).

I've been processing with Braintree for the past few months, and 10 minutes ago I got an email saying they are shutting down my account immediately.

Obviously I am disappointed with Braintree's decision and lack of notice, but it is what it is.

Are there any processing providers out there that will work with a company that has the word "marijuana" on the site? I know I saw a similar story a few months back about Stripe shutting somebody down, but at least they gave a week or two notice.

Any help is appreciated.

2 comments

[ 2.8 ms ] story [ 15.6 ms ] thread
mhashemi
Hmm, the way the risk aversity in the payments climate is going, my instinct would be to look for the smallest/youngest company with the least to lose? It's a tough line to walk. Balanced is out, and if Stripe's not having it, maybe something like bluepay/bluesnap?
davismwfl
I doubt you will find a processor that will do it, regardless of whether it is legal or not. The ability to accept credit cards is both regulated by federal law and also further regulated by the credit card gateways, issuers and banks. Even if you are not selling marijuana you may get classified as paraphernalia which banks and processors will not accept. If you are in any way providing the actual medication, even if legally, then they absolutely will not allow it. Just look at the industry in Colorado, they have to deal in cash because banks will not open an account for them do to conflicting laws etc. I am not an expert in this area, but I have read about it a few times and I don't think you'll have a lot of luck finding an online processor if you are selling either paraphernalia or the medication.