Cash-Only Pot: Credit Cards No Longer Accepted at Medical Marijuana Dispensaries

High FICO score be damned: Your credit is no longer any good at California medical marijuana dispensaries, whose accounts with credit card processors have been canceled, thanks to pressure from the federal government.

Merchant services providers — the intermediaries between retailers and credit card companies who process customers' payments — began informing their medical marijuana dealing clients that cannabis credit card transactions would not be processed after July 1, according to Stephen DeAngelo, Executive Director of Oakland's Harborside Health Center.

No government agency is taking credit for making marijuana a cash-only business. But the “factual pattern” is as follows, DeAngelo said: Officials from the Treasury Department flexed on credit card companies, who then informed merchant services providers that they'd be “dropped from Visa and MasterCard forever” unless they stopped processing medical marijuana payments.

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