Cannabis Sales Set to Go Cashless in State of Hawaii
The state of Hawaii said on Tuesday it will be the first state to require cannabis sales to be handled without cash. It wants to avoid robberies and other crimes it fears will target dispensaries.
Starting October 1, medical marijuana dispensaries in Hawaii will require cannabis sales to be processed through a debit app. The app is already one of the options for dispensaries in six states, including California and Colorado.
The debit app in question is called CanPay. It uses a Colorado-based credit union to facilitate transactions.
Many banks are wary of money originating from cannabis sales. They fear it could cause them legal trouble from the U.S. government, under which marijuana is still banned. The Obama administration issued guidelines to help banks avoid prosecution when dealing with cannabis money in states where marijuana is legal.
With uncertainty over how the Trump administration will react to cannabis sales, the guidelines are not enough to guarantee banks safety when dealing with cannabis sales.
Credit companies such as Visa and Mastercard have refused to allow their cards to be used to buy cannabis or weed related products. Patients will be able to use their smartphone and their CanPay account to pay for their cannabis purchases. Those without smartphones will be able to use their unique personal identification number to log onto tablets within individual dispensaries.
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