Legal medical marijuana purchases can no longer be charged.
Medical Marijuana Purchases Can No Longer Be Charged
In the state of California all medical marijuana purchases need to be paid in cash. Credit cards will no longer be accepted for the purchase of cannabis. Customers credit cards are no longer good at any California medical marijuana dispensaries. The federal government has pressured credit card processors from processing these payments. Merchant services providers began to notify medical marijuana dealing clients that they will no longer process customer’s payments after July first.
This is an issue between state and federal law. Marijuana is illegal under federal law. The state of California legalized marijuana for medicinal use in 1996. Patients need a valid doctor’s recommendation in order to purchase cannabis. This law became known as the Compassionate Use Act.
Proponents for allowing credit card transactions argue that requiring cash only payments has made medicinal marijuana more expensive for lower income individuals or individuals that are already bogged down with medical bills. Just like the grocery store, when you buy in bulk at a medical marijuana dispensary you will save more money. It is believed that individuals with challenging economic circumstances will be forced to buy smaller quantities with cash that over time will cost more money. In addition they fear that this cash only policy might invite a criminal element.
Only time will tell how this cash only no credit card policy will effect consumers and the medical marijuana industry.
- Milestone Credit Card Review – Milestone Mastercard® - February 21, 2023
- Capital One QuicksilverOne Rewards For Fair Credit - September 24, 2020
- Wayfair Credit Card Now Issued by Citibank Review - September 21, 2020
