Mastercard has issued a directive to financial institutions, urging them to cease processing marijuana transactions on its debit cards, causing a setback for the industry.

Mastercard told banks to stop allowing marijuana purchases to be made on their debit cards. REUTERS “As we were made aware of this matter, we quickly investigated it.

From Jan. 1, 2028, Mastercard will only produce cards made from sustainable materials including recycled plastic such as rPVC, rPET, or PLA. The magnetic stripe on the back of cards is also set to ...

Mastercard instructed U.S. financial institutions this week to stop allowing purchases of cannabis on its debit cards, stripping customers of a convenient way to purchase marijuana without cash.

You can’t use Mastercard debit cards to buy marijuana Published: Aug. 01, 2023, 7:15 a.m. Cannabis businesses often rely on regional credit unions or deal in cash-only transactions because ...

July 26 (Reuters) - Mastercard , opens new tab has told financial institutions to stop allowing marijuana transactions on its debit cards, dealing a blow to an industry already on the fringes of ...