Blog Post

Visa Cracks Down on Cannabis Business ATMs—Discover a New Solution!

December 5, 2024

The SAFE Banking Act Doesn’t Matter for Cannabis Businesses.



As President Trump prepares for a return to the White House, speculation about whether he would sign the SAFE Banking Act swirls. This legislation, designed to ease banking restrictions for the cannabis industry, is seen by many as a game-changer. However, there’s no guarantee it will pass under the next administration. The good news? Cannabis Business Solutions has you covered, regardless of what happens in Washington.

A Quick Overview
The SAFE Banking Act aims to protect financial institutions that serve state-legal cannabis businesses by allowing banks and payment processors to work with dispensaries and hemp retailers without fear of federal penalties. While the act could transform the industry, and Visa’s crackdown on cashless ATMs adds another layer of challenge, now cannabis businesses don’t have to wait for federal action to secure essential banking and payment solutions. At Cannabis Business Solutions, we have options available now to help businesses stay compliant and thrive. 

Visa Cracks Down on ATMs in Cannabis Dispensaries and Stores

Relying on cash ATMs for purchases at dispensaries presents significant challenges. For customers, it’s inconvenient—many prefer the ease and security of using credit or debit cards. Withdrawing cash adds an unnecessary step.
Visa has issued warnings against the use of cashless ATMs in cannabis businesses, as these transactions violate their policies. This crackdown could lead to fines or service shutdowns. For businesses, handling large amounts of cash increases risks like theft and complicates bookkeeping.

Let Customers Choose: Flexible Payment Options for Dispensaries

Dispensaries can now offer more payment options while keeping their revenue streams intact. If your business charges a service fee for ATM transactions, you can keep that revenue and even add a convenience fee for debit card payments. Give customers the choice to pay the way they prefer.

Dispensaries can offer both ATM solutions and PIN debit card processing,” says Catherine Zito, CEO of Cannabis Business Solutions, Inc. “We provide flexible options, whether as standalone solutions or a mix of ATMs and debit card processing. This means you can keep your current ATMs while adding secure, compliant debit card payments.”

These solutions make transactions easy and secure while letting dispensaries maintain fees that generate revenue. Adding debit card payments can also improve customer satisfaction and loyalty while potentially increasing product sales amounts.

Cannabis Business Solutions goes further by offering free referrals to cannabis and hemp friendly banks. “We help find banking partners tailored to your business model—whether you're a medical dispensary, recreational retailer or hemp store,” says Zito.

No Waiting for the SAFE Banking Act

At Cannabis Business Solutions (CBS), we believe your business shouldn’t have to wait for Congress or the President to support its growth. We offer a full suite of services specifically tailored to the cannabis industry, including compliant, reliable, and affordable banking and payment processing solutions. As Catherine Zito, CEO of Cannabis Business Solutions, puts it, “We’re here to provide solutions now, without waiting on federal legislation.”

The Importance of Compliance
Using non-compliant and unreliable processors like Square, PayPal, or Dutchie can expose your business to significant risks. These providers are not cannabis-compliant, meaning they can freeze your funds or shut down your account without warning—leaving you in a bind. Plus, their customer support often falls short when you need help the most.

At Cannabis Business Solutions, we prioritize compliance with state and federal regulations, ensuring your operations run smoothly. Best of all, you’ll have access to live, personalized support to address any concerns and keep your business on track.

What Sets CBS Apart
  • Full Compliance: We specialize in cannabis and hemp retail, ensuring your business meets all state and federal regulations, so you never have to worry about non-compliance.
  • Lower Rates: Our competitive rates are designed to save you money compared to other non-compliant processors, helping you maintain profitability.
  • No Long-Term Contracts: Enjoy the flexibility of canceling at any time with just a 30-day written notice—no long-term commitments required.
  • POS Integration: We seamlessly integrate with most point-of-sale (POS) tracking systems, ensuring smooth operations for your dispensary.
  • Fast Merchant Account Setup: Get your merchant account up and running within a week, with no application fees—start accepting payments without delay.
  • 24/7 Customer Support: Our dedicated team is available 24/7, including weekends, to resolve any issues or answer questions, ensuring your business never faces disruptions.
Navigating the complexities of cannabis banking and payment processing doesn’t have to be overwhelming. Contact us today for a complimentary consultation and discover how we can help your business thrive, regardless of the federal government’s stance on the SAFE Banking Act.

Visit cbscannabis.com to learn more about our services and start your journey toward secure, compliant payment processing.
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Discover how Cannabis Business Solutions offers a superior payment processing experience for dispensaries compared to Dutchie's Plaid system. With purpose-built reliability, real cannabis compliance, and faster transaction times, our debit option minimizes failures and enhances customer satisfaction. Experience a seamless checkout process that boosts sales and customer loyalty. Try us risk-free for 60 days and see the difference! For more information, visit CBScannabis.com.
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Florida is on track to become the nation's largest marijuana market! Join 200 attendees, sponsors, and vendors, for this exciting networking and educational event. Industry leaders will discuss key topics; 22 new MMTC licenses, cannabis rescheduling to Class III, the SAFE Banking Act, MMTC mergers, and the Amendment 3 adult-use initiative. Don't miss this opportunity to grow your business in the expanding cannabis market! What - The Future of Adult Use and Medical Marijuana in Florida When - Monday, January 13, 2025 from 7:30am-5:00pm. Where - Donald L. Tucker Civic Center. 505 W Pensacola St, Tallahassee, FL 32301 Host - Medical Marijuana Business Association of Florida Meetup - Stop by the Cannabis Business Solutions booth and meet your Meetup host, Catherine Zito, along with Scott Curtis, COO of First Port City Bank. More info - Cannabis Entrepreneurs and Investors Networking Group Ticket Special - Receive $25 any ticket with discount code: CBSINC . General admission inc. breakfast, lunch, speakers and networking. $275 p.p. Non-Profits $200 p.p. Register today !
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Looking for safe, compliant banking for your cannabis business? At Cannabis Business Solutions, Inc., we offer free introductions to over 60 privately held cannabis-friendly banks. Whether you're running a medical dispensary or adult-use cannabis retail business, we can connect you with secure financial services to ensure long-term success. Learn more at cbscannabis.com.
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