Payments News

On The Web

nbsp;

Use

U.S. House of Representatives Approves Cannabis Banking Bill

“The U.S. House of Representatives on Monday passed legislation that would allow banks to provide services to cannabis companies in states where it is legal, a step towards removing what analysts say is a barrier to development of a national industry. Lawmakers voted 321-101 to approve the bill and send it to the Senate. The […]
nbsp;

Use

First U.S. Penalty for Pot Banking Violations Lands on Credit Union

“A small credit union in Michigan was recently penalized in what’s thought to be the first example of U.S. regulators publicly calling out a financial institution for compliance failures involving the cannabis industry. Under the enforcement action, Live Life Federal Credit Union must stop opening new marijuana-related accounts, and it has to file missing suspicious […]
nbsp; nbsp;

Use

Senate Push to Legalize Weed Is Mixed Blessing for Pot Payment Firms

“A group of Senators is pushing for federal cannabis legalization this year, which would open the market for mainstream payment providers — and bring heavy competition to the payment companies that pioneered this space. Senate Majority leader Chuck Schumer (D-N.Y.), and Sens Cory Booker (D-N.J) and Ron Wyden (D-Ore.) promised to release a discussion draft […]
nbsp;

Regulation

Banks Navigate Hazy Regulations to Serve Cannabis Businesses

“Many financial institutions looking to offer banking services to the expanding number of legal cannabis growers and distributors in the U.S. are still limited by spotty regulations and expensive compliance efforts. The disparities between federal and state laws governing the use of marijuana and hemp, and the differences across states, are inhibiting banks from stepping […]

On The Wires

nbsp; nbsp;

Deals

Digital Payments Platform AeroPay Raises $5+ Million Venture Round Led by Chicago Ventures Amid Rapid Growth

“AeroPay , a Chicago-based digital payments platform powering bank transfer payments for businesses, announced today the closing of a $5+ million Venture Round. The round was led by Chicago Ventures , a firm that leads investments in early-stage startups. The Chicago Ventures portfolio includes online financial services company M1 Finance, celebrity video-sharing website Cameo, digital parking […]
nbsp; nbsp;

Use

Blackbird and AeroPay Announce Strategic Partnership to Bring Cashless Payments to Cannabis Businesses for Online Ordering

“Blackbird, a cannabis software and delivery company, and AeroPay , a leading financial technology company that provides payment processing solutions to the cannabis industry, announced a strategic partnership to bring cashless payments to cannabis businesses for online ordering. The partnership includes an integration of AeroPay’s payments platform into Blackbird’s white-labeled dispensary menus and the BlackbirdGo […]
nbsp;

Use

ICICI Bank Canada Visa* Debit Card Launched

“ICICI Bank Canada today announced the launch of a debit card. Named, ‘ICICI Bank Canada Visa Debit Card’, it offers customers an unparalleled benefit of online shopping, purchasing at millions of retail outlets across the world and making quick contactless payments at Point of Sale (PoS) machines across Canada. This card also empowers customers to […]