This Week In Credit Card News: The First Card For The Cannabis Industry; Amazon Launches More Cards

Columbia Care Launches First Credit Card for the Cannabis Industry

Cannabis is now legal for medical use in 33 states and for recreational use in 10 states. However, the use and distribution of marijuana remains illegal at the federal level. Major credit card issuers like Mastercard and Visa are hesitant about entering the cannabis industry until federal laws change. As a result, many dispensaries are unable to process credit card payments for their products. Columbia Care, a multi-state operator for medical marijuana, is launching the first credit card for the cannabis industry. Consumers who used the CNC Card had an 18% increase in basket size for in-store purchases. [LowCards.com]

 

Read More: https://www.forbes.com/sites/billhardekopf/2019/06/14/this-week-in-credit-card-news-the-first-card-for-the-cannabis-industry-amazon-launches-more-cards/#4b446dc659dd

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