Plastic Privilege | How Big Banks Legitimize High-Risk Business

Paying for pot with plastic is a convenience denied to many during the prohibition era. Big banks and credit card associations decide which categories and what businesses get the privilege of payment processing; decisions that literally make-or-break entire industries.

During prohibition, Canadian cannabis retailers found workarounds to secure payment processing. However, those solutions often proved tenuous at best. It’s a perilous position for any business to be in; one the Canadian vaping industry knows all too well.

In this edition of RegWatch we take a deep-dive into the complicated world of credit card and debit card processing for businesses that are in what the big banks call “high-risk” categories.

What role to the banks play in legalization?

Find out on RegWatch by

Produced by: Brent Stafford
Released March 21, 2018

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