Payments News

On The Web

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Pot Banking Bill’s Prospects Fade Amid Broader Legalization Push

“When Democrats took control of the White House and Congress in January, the conventional thinking was that they would move quickly to pass pot banking reform. But Democrats’ broader legalization efforts have turned the issue on its head. Experts said lawmakers themselves know that sweeping marijuana reform will not pass.”
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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 […]
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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 […]
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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 […]

On The Wires

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RocketFuel Introduces Crypto Payment Solution for Cannabis Dispensaries and Merchants

“RocketFuel (OTC: RKFL) (“RocketFuel” or the “Company”), a global provider of one-click online payment options using Bitcoin and 50+ other cryptocurrencies, today announced that it will be making its payment solution available to be used by licensed cannabis dispensaries and merchants. Integrating RocketFuel into the merchant’s payment checkout will ensure that, unlike the typical cash […]
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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 […]
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