Curated News
By: NewsRamp Editorial Staff
April 14, 2025
Legal Cannabis Operators Warned of Growing Legal Threats Over Cashless ATMs
TLDR
- Advantage: CannaCard® offers legal, transparent payment solutions, avoiding fines and reputational harm faced by dispensaries using cashless ATMs.
- How it works: CannaCard® operates outside major card networks, following strict guidelines with secure ACH transfers and marketing agreements for dispensary partners.
- Make tomorrow better: CannaCard® ensures long-term compliance, protecting partners from legal threats and offering trusted solutions for the cannabis industry.
- Interesting fact: CannaCard® warned about risks of cashless ATMs in 2019, now providing a real solution to avoid penalties and protect dispensary licenses.
Impact - Why it Matters
This news matters as it sheds light on the evolving legal challenges faced by legal cannabis operators using cashless ATMs. It emphasizes the importance of compliance with payment regulations to avoid potential legal consequences and reputational harm. The shift in the regulatory landscape highlights the need for industry players to adopt transparent and compliant payment solutions to navigate the changing legal environment.
Summary
CC Technology Corporation issued a business alert warning legal cannabis operators about the legal threats associated with using cashless ATMs following a groundbreaking lawsuit. The lawsuit filed by a payment processor against a large multi-state operator in the cannabis industry highlights the risks of working with credit card processors claiming to bypass federal and network rules.
Payment processors are now suing dispensaries for damages, signaling a shift in the regulatory landscape. Visa has made it clear that disguising cannabis transactions as ATM withdrawals is a violation of their rules, potentially leading to civil or criminal consequences.
Source Statement
This curated news summary relied on this press release disributed by NewMediaWire. Read the source press release here, Legal Cannabis Operators Warned of Growing Legal Threats Over Cashless ATMs
