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662 points JacobHenner | 1 comments | | HN request time: 0.337s | source
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mannyv ◴[] No.40214223[source]
One major effect of this is that weed stores will be able to use banks and payment processors legally once the regulators catch up.
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andrewxdiamond ◴[] No.40214371[source]
A lot of them have wiggled around this problem by offering “atms” at the cash register. You pay with a debit card, but it’s not a normal transaction, it’s an ATM withdrawal! I don’t understand how the money is vended to the business, but it keeps it out of the store
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bobthepanda ◴[] No.40214788[source]
there is still a lot of cash on site due to the presence of an ATM though, and in the cash registers. the primary problem is that weed shops are incredibly attractive robbery targets due to being one of the few businesses in 2024 that handle large amounts of cash.
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filoleg ◴[] No.40214926[source]
Often enough, it isn’t an actual ATM. You pay at the counter like you usually would using a card or an NFC payment method (e.g., Apple Pay), but the payment reader processes it as an ATM withdrawal transaction (hence an extra transaction fee of a few dollars). There is no physical cash involved at any point in this (at least not on the dispensary premises).
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1. neilv ◴[] No.40216920[source]
Is the payment service operating in a regulatory gray area or loophole?