• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • News
  • Lifestyle
  • Wellness
  • Cuisine
  • Product Reviews
  • Subscribe
Cannabis News and Culture Magazine

Cannabis News and Culture Magazine

Cannabis News and Culture Magazine

Emerald Media News Subscription
  • Print Magazines
  • 100+ Minority-Owned Companies to Support
  • No Pipe, No Problem
  • Blunt vs. Joint
  • The Cost of Cannabis in Each State
  • Calculating Your Edibles Dosage
  • Flintts Mouthwatering Mints

Brother Processing Services, Filling the Industry’s Financial Service Gap

April 10, 2021 by Partner_Content Leave a Comment

brother processing

Written by John Lee

Most financial establishments consider the cannabis industry high risk. As such, cannabis businesses struggle to make deals with banks and other businesses. Luckily, as the industry grows, some recognize the needs of these up-and-coming businesses and are rising to meet the demand. 

Brother Processing Services is one such company that believes in the cannabis industry and its ability to prosper. It is a merchant service provider, which means it helps businesses accept payments for their goods. Brother Processing has helped those in the U.S. and Canadian cannabis industries for 15 years and counting. 

Stuart Lutterman, co-founder and president of Brother Processing, told Emerald, “we provide the capability of accepting some form of payment for merchants who have challenges to accept payments because of what they do.”

Specifically, they serve a variety of establishments including dispensaries, wholesalers, ancillary businesses, and e-commerce CBD companies. 

Rising Above the Stigma

Despite the fact that nearly 40 states have legal cannabis, Lutterman says stigma continues to hinder the industry’s growth.  

“We have merchants who sell bongs and rolling papers online. You would think that it would be a very easy thing to get a merchant account because they’re not selling anything illegal or anything like that,” he adds. “But because of the stigma of the industry, for example in Canada, there are one maybe two banks that will even go near the business.” 

That’s where Brother Processing steps. The company provides loan acquisition and management to credit and debit card processing and other merchant services. 

The People and the Future of the Industry

Lutterman goes so far as to attribute Brother Processing’s success to the industry’s neighborly culture and amicable business environment. He says, “at the end of the day, I love what I do and I’ve learned a lot. If you ain’t happy with what you’re doing, you ain’t going to do it well and it’s not going to be fun.” 

Lutterman believes that the people in the industry make it a fun and healthy business environment. But foundationally, he believes in the financial potential that the cannabis industry exhibits. 

As the demand and supply for cannabis grows, the laws and misconceptions that stifle the industry won’t handle the stress. 

“Half of the U.S. is there already and in my opinion, when the U.S. does [federally legalizes cannabis], which we’ll get there, and especially if Mexico does it then we’ll be in the fastest growing and biggest industry probably in history.” 


Armed with belief in the cannabis’s industry’s potential, and with a faith in the people behind the businesses, Brother Processing and many others like them will be at the forefront of this inevitable surge in the industry.

Filed Under: Broadcast, Business, Sponsored Post Tagged With: banking, Brother Services, credit and debit services, finance, loan services, merchant services

Reader Interactions

Leave a Reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube

Advertise Here

Categories

Sustainability

seaweed naturals

SeaWeed Naturals Combines the Power of Seaweed with Cannabis to Further Ocean Restoration

April 3, 2022 By Maggie Horton

fungi climate change

Research Finds Fungi Help Ease Climate Change and Benefit the Environment

March 30, 2022 By Julia Meyer

climate crisis and the pandemic

“We Can Act:” What Bending the COVID-19 Curve Teaches Us About the Climate Crisis

April 21, 2020 By Melissa Hutsell

Footer

  • Subscribe
  • About
  • Contact
  • Privacy
  • Press

Recent

  • The Rise of Uncle Arnie’s in the Cannabis Beverage Market
  • Get Lit with Keith Romanowski of Lit Studio
  • Say Goodbye to Insomnia: 8 Tips for Getting a Good Night’s Sleep
  • Cannabis on the Ballot: State Legalization and the 2022 Midterm Results
  • Emerald’s 2022 Holiday Gift Guide

Search

Copyright © 2023 · The Emerald™ · News & Lifestyle Magazine

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings.

Cannabis News and Culture Magazine
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.