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Why did San Francisco’s cannabis store ‘cashless ATMs’ suddenly shut down?

Tyler Beuerlein, Hypur Chief Revenue Officer, weighs in on issues with debit and credit cards for cannabis in an article by Chris Roberts at Leafly.

“Credit and debit networks are prohibited from any cannabis-related transactions happening on their networks,” Beuerlein said.

Regardless of what a merchant-services or ATM broker might tell a dispensary client, “A ‘reverse ATM,’ or a ‘cashless ATM,’ is still using a network and still prohibited,” Beuerlein said. Anyone offering this service to a dispensary is, somewhere along the chain, misleading or misrepresenting the bank as to where the cashless ATM terminal is located.

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