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 Venmo are also leery of wading into the industry, state health officials say. That leaves many patients carrying wads of cash into Utah’s medical cannabis pharmacies — a less-than-ideal situation when many are turning to contactless payments to avoid spreading COVID-19. – Read the entire article at The Salt Lake Tribune.
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 Venmo are also leery of wading into the industry, state health officials say.
That leaves many patients carrying wads of cash into Utah’s medical cannabis pharmacies — a less-than-ideal situation when many are turning to contactless payments to avoid spreading COVID-19.
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Read the full article @ Cannabis Culture