Cashless payment system proposed for Ohio medical marijuana program

Could Ohio have a solution to the marijuana industry’s cash-only problem?

The state’s new medical marijuana law proposes a closed-loop payment processing system that would rely on something similar to pre-paid debit or gift cards, according to Cleveland.com.

Legal marijuana companies have had to rely on cash-only transactions because banks, credit unions and credit card companies are reluctant to do business with them, given the uncertain federal regulatory environment.

Read more here…

Leave a Reply

Your email address will not be published.