3 ms·
I guess I don’t quite understand why using something like a debit card doesn’t work. The marijuana companies seem to have effectively figured how to take paymen
by blintz 4y ago
I guess I don’t quite understand why using something like a debit card doesn’t work. The marijuana companies seem to have effectively figured how to take payments with almost no help from the traditional players (credit card companies, banks).
- jfengel 4y agoI don't know, and it's a good question. I wonder if it has something to do with it being (for now) a local business. I am extremely wary of using my debit card online. The credit card comes with a lot of protection if the information is stolen. A debit card lets them empty my bank account. In theory, I can get it back -- eventually. If somebody who has stolen a debit card tries to use it in person, they're running a much higher risk. So the marijuana sellers may have an easier time getting access to that network. That's purely speculation, however. I know effectively nothing about the business.
- blintz 4y agoThat’s a fair point, although you can use a debit card for cannabis delivery services too. Maybe a good mitigation for the fraud concern is just using ‘virtual’ or physical prepaid debit cards that have a fixed balance.
- simoncion 4y ago> A debit card lets them empty my bank account. The solution to this is to use a bank (or credit union) that permits you to have multiple bank accounts and to move money between them instantaneously. With this, you can have an "internet purchases" account that has like a $10 balance that you dump just enough money into to cover your purchase.