• What Decriminalization Could Mean for Cannabis Banking

What Decriminalization Could Mean for Cannabis Banking

By |October 21st, 2022|

President Joe Biden’s recent executive action pardoning all prior federal cannabis possession convictions garnered most of the headlines, but he also announced that he’d issued a directive to review marijuana classification as a Schedule I drug. Legally speaking, this designation puts cannabis on the same footing as cocaine and heroin; that is, dangerous substances with

  • dispensary payment solutions

Essential Features You Should Look for in a Dispensary Payment Solution

By |September 26th, 2022|

The legal cannabis industry is going from strength to strength, but banking reform that will allow dispensaries to receive the same financial services used by every other business remains a distant dream. This has typically meant that cannabis retailers are stuck as cash-only operations, which is risky for the business and inconvenient for the customer.

  • cashless payment options dispensary

How to Encourage Customers to Use Cashless Payments in Your Dispensary

By |September 13th, 2022|

Operating on a cash-only basis isn’t just inconvenient and risky for marijuana dispensaries, it is also an annoyance for many customers who don’t want to have to withdraw from an ATM every time they make a purchase. To overcome this, many cannabis retailers are adopting cashless payment alternatives from ACH bank transfers to point of

  • cannabis gift cards

Why Cannabis Dispensaries Should Embrace Gift Card Programs

By |June 27th, 2022|

Retailers across various industries have long seen the benefit of offering gift cards customers can use to make purchases. Whether conventional physical cards or digital ones, gift cards provide another sales option while increasing brand awareness and offering the possibility of using them in conjunction with customer retention and loyalty programs. Such benefits could be

  • Financial Association Implores Senate to Pass Marijuana Banking

Financial Association Implores Senate to Pass Marijuana Banking

By |June 9th, 2022|

A nationwide community bank association has added its voice to the chorus of calls imploring Senate leadership to act on marijuana banking reform. The Independent Community Bankers of America (ICBA) that represents around 50,000 community banks across the US sent a letter urging the Senate to include provisions in a manufacturing bill that would safeguard

  • Payment Startups Cannabis Payment Options

Digital Payment Startups Emerge to Fill Void of Cannabis Payment Options

By |May 23rd, 2022|

Despite generating $17.5 billion in sales in 2020, marijuana businesses still largely operate on a cash basis due to federal cannabis prohibition. This represents a staggering 46 percent year-on-year increase, and it is widely expected to continue on this trajectory as more and more states move to reform their cannabis laws and open up to

  • Bankers Association Urge Congress Marijuana Banking

Bankers Association Representing All States Implore Senate to Pass Cannabis Banking Reform

By |May 9th, 2022|

Banking associations across all 50 states urged Senate leaders to include cannabis banking provisions in a comprehensive manufacturing bill that’s currently with a bicameral conference committee. In their letter, the American Bankers Association (ABA) and state-level banking associations described the Secure and Fair Enforcement (SAFE) Banking Act as an “urgently needed, and widely supported, bipartisan