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I'm not sure how they do it but one of the dispensaries (in California) I use actually takes credit cards. I still pay cash because I don't really want it showi
by jack-r-abbit 12y ago
I'm not sure how they do it but one of the dispensaries (in California) I use actually takes credit cards. I still pay cash because I don't really want it showing up on my statement. But they manage it somehow.
- josephpmay 12y agoThere are two ways they may be doing it: 1) they're mis-classifying their business as a flowershop (somewhat illegal and definitely against the processor agreement, but it's not likely that they'll get caught) 2) They're using a "cashless ATM" where you withdraw money from your debit account or credit cash advance in the form of a deposit receipt that the dispensary can then cash. Neither of these are good solutions. It is not technically illegal (well, kinda) for cc processors to accept mmj purchases (and Visa and MasterCard are ok with it-but not Discover and Amex), however no cc processor wants to because the amount of paperwork they'd have to file to be in anti-money laundering compliance would loose them money. I was working on a startup trying to find a solution to this, but we recently gave up, at least for the time being.