Mastercard bans marijuana purchase on debit cards

MMP News AuthorAugust 3, 2023
Aug. 3, 2023 Mastercard is instructing financial institutions that offer payment services to cannabis sellers via a Mastercard debit card to stop allowing marijuana transactions. The decision is tied to the fact that the federal government views cannabis sales illegal, a spokesperson told Reuters, which cited a Bloomberg News report. ... Read More

Cash payments no longer the only option for Utah cannabis patients

MMP News AuthorSeptember 24, 2020
Utah’s medical cannabis patients are now allowed by the state to spend their money inside marijuana pharmacies, but that doesn’t mean the nation’s major financial institutions want their fingerprints on transactions involving the federally illegal substance. Credit card companies generally avoid cannabis transactions, for fear of federal repercussions. PayPal and ... Read More