Mastercard moves to ban cannabis purchases on its debit cards
Mastercard moves to ban cannabis purchases on its debit cards
Mastercard has told financial institutions to stop allowing marijuana transactions on its debit cards, dealing a blow to an industry already on the fringes of the financial system in the United States.
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From the article: "The federal government considers cannabis sales illegal, so these purchases are not allowed on our systems," the spokesperson added.
Seems like this isn’t a Mastercard thing, but a government thing. Marijuana is still illegal at the inter-state level unfortunately.
that hasnt been being enforced for a long time, so if something's changed it'd help Mastercard's PR quite a bit to point to a government order or something.
Otherwise yeah it's a mastercard thing
It's still a non-trivial legal liability that any major company would prefer to not have.
If you could spend $1 to eliminate a 1% chance that you're going to be arrested, you're probably gonna take it.
You think they're gonna go arrest John Mastercard because someone bought recreational marijuana from a vendor in a legal state?
I think a risk-averse corporation may decide that it's not worth bothering with.
At any rate, it's their own pockets they're hurting.
no, payment processors blocking transactions for your business is definitely hurting more pockets than their own.
MF said "John Mastercard"....