Marijuana retailers across the United States are adjusting to handling and securing more cash in-store after Mastercard’s abrupt decision last month to halt millions of dollars in cannabis purchases involving its popular debit card.
Operators are also bracing for the possibility that global financial giant Visa will follow suit while facing growing threats their increasingly cash-heavy operations will become even more attractive to criminals.
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Some marijuana retailers are zeroing in on improving in-store communication with customers and the overall shopping experience in the wake of Mastercard’s exodus.
Other retailers told MJBizDaily they are reassessing internal processes, including researching payment-processing vendors to potentially expanding card-purchasing options.
The debit-card ban also will likely push more business to the underground market, sources told MJBizDaily, perhaps generating even more competition from the illicit market.
The U.S. Cannabis Council told Green Market Report that “hundreds” of legal marijuana businesses – particularly
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