• cannabis gift cards

Why Cannabis Dispensaries Should Embrace Gift Card Programs

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

By |June 27th, 2022|
  • Payment Startups Cannabis Payment Options

Digital Payment Startups Emerge to Fill Void of Cannabis Payment Options

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

By |May 23rd, 2022|
  • SAFE Banking Act Advanced by House as Part of America Competes Act

SAFE Banking Act Advanced by House as Part of America Competes Act

In a now familiar move, the US House of Representatives voted for legislation containing provisions that would shield financial institutions servicing state-legal marijuana businesses from federal interference. The House-approved America COMPETES Act of 2022, which includes provisions of the Secure and Fair Enforcement (SAFE) Banking Act, means the marijuana banking reform measure has now cleared

By |February 23rd, 2022|
  • merchant options for cannabis businesses

What Merchant Options Are Available for Cannabis Businesses?

The federal prohibition of cannabis makes payment processing more complicated than in traditional retail industries. This is because financial service providers are reluctant to work with marijuana businesses, even in states where cannabis is legal, for fear of federal reprisals. The consequences of this for cannabis retailers are significant. Consumers generally prefer to pay by

By |December 14th, 2021|
  • irs advice marijuana businesses

IRS Official Shares Tax Advice with Marijuana Businesses

The Internal Revenue Service (IRS) published a blog post providing advice to state-legal marijuana businesses on how to stay compliant with tax rules, given cannabis’s Schedule I controlled status at the federal level. The IRS’s De Lon Harris wrote that the rapid growth and expansion of the cannabis industry had created a complex situation with

By |October 14th, 2021|
  • how to get a cannabis business loan

How to Get a Loan for Your Marijuana Business

Cannabis is becoming a more prevalent commodity in the U.S., and more and more businesses are applying for state licenses with hopes to open their gates. Entrepreneurs looking to create new ideas and find a specific niche have plenty of opportunity as more states began to regulate cannabis. But it won’t be an easy road

By |August 22nd, 2021|
  • benefits of accepting credit cards for cannabis businesses

How Cannabis Businesses Will Benefit from Accepting Credit Cards

Credit cards have become a commonly accepted payment in the U.S. and around the world, and your cannabis business has much to gain from making this available to your customers.  Research on consumer payment preferences by BAI Research and Hitachi Consulting found that 41 percent of shoppers have reduced the amount of cash they use,

By |August 9th, 2021|
  • how safe banking act will change cannabis banking

6 Ways the SAFE Banking Act Will Actually Change Cannabis Banking

Lack of banking access has been a stumbling block for the billion dollar U.S. cannabis industry, and a federal bill aiming to change that may finally get enough traction this year for a vote. The Secure and Fair Enforcement (SAFE) Banking Act would change the regulatory landscape for financial institutions that provide services for cannabis-licensed

By |June 8th, 2021|
  • deceive banks into providing cannabis business banking

Lawyers Warn Cannabis Companies Against Deceiving Banks into Providing Services

State-legal marijuana companies locked out of using financial services due to the federal prohibition of cannabis have been warned not to deceive banks about the nature of their business. Benjamin William Perry and Alex McFall of Bradley Arant Boult Cummings LLP law firm, writing for Lexology, said there’s a strong incentive for cannabis businesses to

By |May 24th, 2021|