#cannabismerchants

[scsacostamesa]

Banking issues continue to frustrate the cannabis industry. The latest blow comes as Mastercard bans debit cards at cannabis shops. Business owners state that the move will increase the risk of robbery and violent crimes.

The financial company prohibits debit cards at cannabis shops because marijuana is still illegal at a federal level. Even though it has been legalized in many states, it is classified as an illegal drug by the United States government.

Mastercard has stated that their debit cards may not be used to buy cannabis in any fashion. Customers will not be allowed to use their cards to access cash for cannabis purchases in states where medical and recreational weed are legal.

“As we were made aware of this matter, we quickly investigated it,” a Mastercard spokesperson said. “Following our policies, we instructed that financial institutions that offer payment services to cannabis merchants and connect them to Mastercard to terminate the activity”.

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[pleasantdiplomatwinnerbagel]

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[billazin710]

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