Ever since the major card brands ceased allowing credit card and debit card transactions for cannabis purchases, cannabis dispensaries and retailers have struggled to find a reliable and legitimate alternative to cash purchases. How do dispensaries provide secure, legitimate payment options to customers when traditional financial providers won’t participate in the industry due to federal regulations? Cash has traditionally been the first choice, with ATMs popping up in virtually every dispensary – but aside from security concerns, this tangible option can be inconvenient and unnecessarily costly for customers (think high ATM fees).
When it comes to cashless alternatives, there are several options. The challenge is separating the legitimate solutions from the risky and potentially fraudulent. Finding the safest, most secure payment choice for your business comes down to asking the right questions.