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Pot payments players crave federal reforms

June 5, 2024


Cannabis companies in Colorado don’t have traditional bank accounts and can’t accept credit cards from customers. The also can’t use credit cards to pay their bills.

That’s because marijuana, while legal for recreational and medicinal use in Colorado and a growing number of other states, is still illegal under federal law.

As a result, licensed cannabis growers and retailers turn to a host of software and payments companies that have sprung up to allow cannabis businesses to take payments from customers and pay their vendors.

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