Home | Community | Message Board


This site includes paid links. Please support our sponsors.


Welcome to the Shroomery Message Board! You are experiencing a small sample of what the site has to offer. Please login or register to post messages and view our exclusive members-only content. You'll gain access to additional forums, file attachments, board customizations, encrypted private messages, and much more!

Shop: Kraken Kratom Red Vein Kratom   PhytoExtractum Kratom Powder for Sale   Bridgetown Botanicals Bridgetown Botanicals   Original Sensible Seeds Autoflowering Cannabis Seeds

Jump to first unread post Pages: 1
OfflineYthanA
ᕕ( ᐛ )ᕗ
Male User Gallery

Registered: 08/08/97
Posts: 18,840
Loc: NY/MA/VT Borderlands Flag
Last seen: 2 hours, 1 minute
Mastercard demands US cannabis shops stop accepting debit cards
    #28409606 - 07/26/23 08:54 PM (9 months, 18 days ago)

Mastercard demands US cannabis shops stop accepting debit cards
www.bbc.com

Mastercard has said financial payment companies must stop allowing US customers to buy legal marijuana in shops with its debit cards.

Because marijuana remains illegal at a federal level in the US, customers in the 38 states where it is allowed are usually forced to pay in cash.

Mastercard said the move comes after it found some shops accepted debit payments despite the federal ban.

Marijuana advocates have called for new laws to ease sales of legal cannabis.

"As we were made aware of this matter, we quickly investigated it. In accordance with our policies, we instructed the financial institutions that offer payment services to cannabis merchants and connects them to Mastercard to terminate the activity," Mastercard said in a statement on Wednesday.

"The federal government considers cannabis sales illegal, so these purchases are not allowed on our systems," the statement continued.

The crackdown aims to stop marijuana businesses, known as dispensaries, from offering the option to customers of paying with a debit card after entering their account's PIN number.

Marijuana is currently legal for medical use in 38 states. It is also legal for adults over 21 years old to buy for recreational use in 23 states, including Washington DC and the entire US West Coast.

In Canada, where cannabis was legalised on the national level in 2018, customers are often permitted to make payments with credit or debit cards.

Sunburn Cannabis CEO Brady Cobb criticised Mastercard's decision, saying "this move is another blow to the state-legal cannabis industry and patients/consumers who want to access this budding category".

The Democrat-controlled US Senate is hoping to pass a law that would make it easier for cannabis businesses to interact with financial institutions.

But earlier this month, top Republican Senator John Cornyn described the bill's passage as "wishful thinking".

Extras: Filter Print Post Top
InvisibleveggieM

Registered: 07/25/04
Posts: 17,538
Re: Mastercard demands US cannabis shops stop accepting debit cards [Re: Ythan] * 1
    #28409618 - 07/26/23 09:08 PM (9 months, 18 days ago)

This is why there are so many holdups and robberies in dispensaries, because they are forced to have a lot of cash on hand. I'm sure that is done by design, so politicians can point their fingers and say how cannabis attacts the criminal element.

I don't know why they just don't use bitcoin.

Extras: Filter Print Post Top
InvisibleHolybullshit
Stranger
Registered: 01/06/19
Posts: 1,576
Re: Mastercard demands US cannabis shops stop accepting debit cards [Re: veggie]
    #28409657 - 07/26/23 10:00 PM (9 months, 18 days ago)

MasterCard is a little bitch, they are also the ones who won't let their cards be used for p2p currency apps.

And I would guess it's because 95% of consumers don't use crypto, coupled with its volatility.

Extras: Filter Print Post Top
Invisibledurian_2008
Cornucopian Eating an Elephant
 User Gallery


Registered: 04/02/08
Posts: 18,037
Loc: Raccoon City
Re: Mastercard demands US cannabis shops stop accepting debit cards [Re: Holybullshit]
    #28409996 - 07/27/23 08:00 AM (9 months, 18 days ago)

What sanctioned countries and businesses do is use every other financial means possible, to avoid restrictions.

Extras: Filter Print Post Top
Offlineviraldrome
 User Gallery


Registered: 09/21/18
Posts: 4,227
Loc: Parts Unknown
Last seen: 2 hours, 10 minutes
Re: Mastercard demands US cannabis shops stop accepting debit cards [Re: Ythan]
    #28410072 - 07/27/23 09:12 AM (9 months, 18 days ago)

Quote:

Ythan said:

In Canada, where cannabis was legalised on the national level in 2018, customers are often permitted to make payments with credit or debit cards.






Often? Always. No retail store can survive in Canada on cash only, its 75 percent or more of all sales of everything including weed. Places give you a dirty look when you pull out cash. During pandemic some refused cash all together 

Dispensaries full of cash and weed are robbery target

The real issue is how much power a credit card company has in 2023. They dont like your business they can destroy it like are trying to do to pornhub. Its not their business what i use my credit card for. They wont allow me to use my money to buy bitcoin either. I can buy lap dances from human trafficking victims though


--------------------
Lysergamides I have tried so far: 1P-LSD, 1cP-LSD, ALD-52, AL-LAD, LSZ, ETH-LAD, MIPLA, EIPLA, 1cP-AL-LAD

Extras: Filter Print Post Top
Invisibledurian_2008
Cornucopian Eating an Elephant
 User Gallery


Registered: 04/02/08
Posts: 18,037
Loc: Raccoon City
Re: Mastercard demands US cannabis shops stop accepting debit cards [Re: viraldrome]
    #28410097 - 07/27/23 09:32 AM (9 months, 18 days ago)

The state is ironically accused of drug and human trafficking as well as building the backbone for crypto, as well as being on the verge of legalizing it all, as well as fighting forever wars against it all.

Extras: Filter Print Post Top
OfflineWayne420303
Psychonaut Mycologist
Male User Gallery


Registered: 09/09/12
Posts: 110
Last seen: 7 months, 29 days
Re: Mastercard demands US cannabis shops stop accepting debit cards [Re: veggie] * 1
    #28415209 - 07/31/23 03:18 PM (9 months, 13 days ago)

I have actually seen a few dispensaries whom have integrated crypto into the card payment method, essentially a person swipes their debit card, and "Buys" the equivalent amount of crypto and it is than transferred to the dispos crypto address.


--------------------


The Psychonaut

Extras: Filter Print Post Top
Jump to top Pages: 1

Shop: Kraken Kratom Red Vein Kratom   PhytoExtractum Kratom Powder for Sale   Bridgetown Botanicals Bridgetown Botanicals   Original Sensible Seeds Autoflowering Cannabis Seeds


Similar ThreadsPosterViewsRepliesLast post
* High growth in cannabis shops [NL] veggieM 1,306 3 02/17/05 09:09 AM
by cybrbeast
* Cannabis in Amsterdam and in San Francisco MikeOLogical 4,910 5 12/04/09 10:58 PM
by sonar
* SHOP BOSS DEFENDS CANNABIS SALES motamanM 1,462 3 05/24/04 11:29 AM
by Randolph_Carter
* Access to Dutch 'coffee shops' could be cut for foreigners veggieM 2,466 9 11/21/04 09:18 PM
by Lifenergy
* Dutch seek to stub out 'cannabis tourism' grib 5,036 17 04/13/09 07:45 AM
by cosmiccabbage
* Dutch Government to Weigh Cannabis Clamp Down SeussA 2,820 14 04/29/04 06:28 AM
by Annom
* Dutch Prefer Cannabis Cafes to Pharmacies veggieM 1,436 0 02/07/05 12:13 PM
by veggie
* Dutch Approve Cannabis as Prescription Drug daussaulit 2,615 3 09/02/03 04:23 AM
by Jackal

Extra information
You cannot start new topics / You cannot reply to topics
HTML is disabled / BBCode is enabled
Moderator: motaman, veggie, Alan Rockefeller, Mostly_Harmless
572 topic views. 0 members, 5 guests and 7 web crawlers are browsing this forum.
[ Show Images Only | Sort by Score | Print Topic ]
Search this thread:

Copyright 1997-2024 Mind Media. Some rights reserved.

Generated in 0.022 seconds spending 0.004 seconds on 12 queries.