marijuana dispensary credit card terminal

Message I sent to the state board of alcohol and cannabis trade this afternoon: At The Reef on E Olive Way, the longtime CHS advertiser will again be doing its annual clean-up of neighboring Arcade Plaza along with DJ sets from Chong The Nomad and food trucks including the Central District’s WoodShop BBQ and Peruvian chow slinger Don Lucho’s. Meanwhile, the Hill’s retailers are planning sales, promotions, and events as part of Wednesday’s annual 4/20 celebration of marijuana and pot culture. The state says the list is not “exhaustive” and features financial institutions that “have provided information about the financial services they may be able to provide to the cannabis industry.”

The liquor board says the state’s Department of Financial institutions has posted a list of non-cash payment options including POSaBIT debit card processing, and CanPay “payment solutions for the state regulated cannabis industry and other emerging markets.” In 2017, Ike’s briefly rolled out credit card payment options through a third party provider but shut the service down after a few months over concerns about federal legal issues. “That’s likely a result of federal banking laws and the costs associated with circumventing them.”Įxperimentation with payment options has been a risky proposition for Seattle’s marijuana retailers. “The state has not acknowledged the high fee issue yet,” a representative from a Seattle marijuana business tells CHS. The companies offering services in the space typically charge high fees meaning many customers will still choose to pay with cash. “Options are limited while cannabis remains a Schedule 1 Controlled Substance and the federal government does not act to allow banking for cannabis transactions,” the board said.īut with increased concern about the armed robberies and clarification from the regulatory board, other Capitol Hill stores could follow suit. “Transactions may be conducted through an app on the customer’s phone.”Īround Capitol Hill, only the Uncle Ike’s stores currently accept non cash payment using debit cards. “Essentially, the rule allows retailers to engage in business with third-party vendors to allow for cashless transactions with customers,” Tuesday’s announcement reads. Tuesday afternoon, Washington State Liquor and Cannabis Board said it has issued a rule clarifying that some cashless transactions are allowed - though “awareness of this rule has been slow to take hold.” With concerns that cash transactions are making the industry a target for crime, more Capitol Hill pot retailers could add new purchasing options after state officials say they have clarified rules on payments.

Marijuana dispensary credit card terminal