Pot Shops Now Taking Debit And Credit Cards
Colorado dispensaries are starting to accept debit and credit cards.
"Oh man, I need to stop at an ATM." Don't you hate hearing those words when you've got your friends all loaded up and ready to head to the dispensary? Those days may soon be a thing of the past. Colorado dispensaries are slowly starting to accept debit and credit cards.
Paying with a card is more convenient for most. But for the marijuana industry, it's not that easy. Banks were hesitant to open accounts with dispensaries for the fear of losing their FDIC insurance. That's understandable. The reason, of course, is that under federal law marijuana is still an illegal drug.
There are some private banks that are starting to work with Colorado pot shops. This addition is more than just a convenience, it represents real progress in Colorado's marijuana industry. Of course, each dispensary is different as far as what kind of cards they'll take. As of today, there are actually several dozen dispensaries in the Denver area that will accept your credit card.