Some of our locations are also accepting. All Artist Tree dispensaries accept debit card and cash payments for in-store orders and home delivery. Some of our locations also accept credit card payments. Yes, many dispensaries now allow debit card transactions.
Debit card processing for cannabis businesses is available, but with limitations. Traditional debit card processing only works for cannabis card transactions (in-store and at home). Unfortunately, for the same reason that credit cards aren't available to cannabis companies, well-known payment apps can't be used to buy cannabis. Another major challenge for banks to provide services to cannabis companies is the enormous amount of money that cannabis companies need to deposit.
The availability of cannabis banking has also improved the availability of non-cash payment options for cannabis companies. Major credit card brands (Visa, MasterCard, American Express, Discover) are not expected to allow cannabis credit card transactions until the sale of cannabis is federally legal. Congressional laws, such as the Safe Banking Act, which are designed to increase the availability of banking services for cannabis companies, are not expected to affect the availability of credit card processing for cannabis companies. Oddly enough, even though cannabis companies and consumers are increasingly opting for card-based solutions, a steady stream of cannabis technology providers are getting into the ACH payments game with their own “______” payment.
In the early days of the legal sale of cannabis by the state, many banks avoided providing services to cannabis companies because of the challenges of cash. As a result, most banks choose not to work with cannabis companies, and most cannabis companies are forced to accept only cash. Because cannabis is still illegal at the federal level, most banks are wary of processing cannabis transactions, as they could be accused of money laundering.