Petition Urges Mastercard, Visa And Other Credit Card Giants To Accept Cannabis Payments
Portfolio Pulse from Nina Zdinjak
Shield Compliance, a cannabis banking platform, has released an open letter urging leading card brands, including Mastercard, Visa, Discover, and American Express, to reverse their policies prohibiting financial institutions from offering payment services to licensed cannabis merchants. This comes after several finance giants, including Bank of America and Mastercard, revealed they are lobbying for cannabis banking reform. The lack of access to debit and credit card payments is a significant obstacle for the cannabis industry.
October 26, 2023 | 2:22 pm
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NEUTRAL IMPACT
American Express is being urged to reverse its policy prohibiting payment services to cannabis merchants.
If American Express decides to reverse its policy, it could potentially open up a new revenue stream. However, the impact on the stock price in the short term is uncertain.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Discover is being urged to reverse its policy prohibiting payment services to cannabis merchants.
If Discover decides to reverse its policy, it could potentially open up a new revenue stream. However, the impact on the stock price in the short term is uncertain.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
GlaxoSmithKline is among the lobbyists for cannabis banking reform.
GlaxoSmithKline's involvement in lobbying for cannabis banking reform could potentially impact its reputation and relationships. However, the impact on the stock price in the short term is uncertain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Mastercard is being urged to reverse its policy prohibiting payment services to cannabis merchants.
If Mastercard decides to reverse its policy, it could potentially open up a new revenue stream. However, the impact on the stock price in the short term is uncertain.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Visa is being urged to reverse its policy prohibiting payment services to cannabis merchants.
If Visa decides to reverse its policy, it could potentially open up a new revenue stream. However, the impact on the stock price in the short term is uncertain.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80