The marijuana industry is picking up as legalization sweeps the country, but there are still some wrinkles to be ironed out.
In particular, most banks won’t deal with weed businesses, which means they can’t take credit cards.
That means buyers have to carry cash, and sellers end up with huge amounts of cash on hand — some dispensaries in Denver can do sales of $500,000 per month. Transacting in cash increases the risk of theft, and if the sellers try to deposit large amounts of cash at the bank, they can be suspected of money laundering or other crimes.
But one company thinks it’s found a way to keep both banks and legal weed businesses happy.
– Read the entire article at News.