COCKEYSVILLE, Md. — While business is booming one month into the legal cannabis industry in Maryland, it's not perfect, as owners of legal cannabis dispensaries have noted.
One dispensary here at home tells us there are some kinks to work out - namely, how customers pay.
"Right now, we're limited to debit card readers that act as cashless ATMs," said Matthew Hersh, general manager of KIP Dispensary in Cockeysville. "And those terminals also don't respond well to all banks."
If customers at the dispensary don't want to use cash, they'll check out this way with a debit card: the dispensary rounds up their total, and gives them change, like the customer got the change out of an ATM.
Since cannabis is still federally illegal, a simple credit card swipe is a no-go.
Days ago, Mastercard made headlines by asking financial institutions to halt cannabis purchases with their cards.
A company spokesperson sent WMAR-2 News a statement:
As we were made aware of this matter, we quickly investigated it. In accordance with our policies, we instructed the financial institutions that offer payments services to cannabis merchants and connects them to Mastercard to terminate the activity. Our rules require our customers to conduct lawful activity where they are licensed to use our brands. The federal government considers cannabis sales illegal, so these purchases are not allowed on our systems.
"Unfortunately, if Mastercard says 'no more' then we will have to find other options," added Hersh.
Hersh is hoping one day his shop can accept any kind of payment; that would likely require a concerted legal overhaul.
Still, throughout that, they're seeing plenty of new faces and business.
"Staying busy, lots of new people, lots of new staff," Hersh added.
