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 Sta…
transactions on its debit cards, dealing a blow to an industry already on the fringes of the financial system in the United States.companies as marijuana remains illegal at the federal level despite several states legalizing its medicinal and recreational use.“As we were made aware of this matter, we quickly investigated it.
“The federal government considers cannabis sales illegal, so these purchases are not allowed on our systems,” the spokesperson added. The move, which would rob cannabis buyers of another easy-to-use mode of payment, was first reported by Bloomberg News.
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