http://www.medigrow.org/wp-content/uploads/2015/12/Logo-Medigrow.png 0 0 Marijuana Business Daily http://www.medigrow.org/wp-content/uploads/2015/12/Logo-Medigrow.png Marijuana Business Daily2016-08-03 04:00:002016-08-03 04:00:00Could Ohio Solve the Cannabis Industry’s Cash-Only Problem?
Could Ohio Solve the Cannabis Industry’s Cash-Only Problem?
By Omar Sacirbey
Could Ohio wean the marijuana industry from its need to do business in cash?
Ohio’s new medical marijuana law proposes a “closed-loop” payment processing system. It would be similar to pre-paid debit or gift cards. Regulators must still decide whether to use the system.
The proposal comes at a time when legal marijuana companies have had to rely on cash-only transactions. That’s because most banks, credit unions and credit card companies are reluctant to do business with them, given the uncertain federal regulatory…
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