Solutions by Switch Commerce - Operating ATMs in Cannabis Dispensaries or CBD Locations

Switch Commerce and the sponsor banks have been seeing an increase in ATMs being placed in cannabis dispensaries. Not until recently has ATMs in cannabis dispensaries or in CBD locations been allowed by the sponsor banks. However, to do so, there are agreements that must be signed and strict guidelines that must be followed for each terminal placed. Any ATM that is placed at a cannabis dispensary without this oversight is subject to immediate shutdown by the sponsor bank.

 

POS terminals located in cannabis dispensaries that have software loaded to look like an ATM device, often referred to as "Cashless ATMs", are being marketed and sold by many resellers as a viable compliant solution. Using a debit/credit card to purchase anything, presenting the transaction as an ATM withdrawal, is against network rules, subject to fines up to $50k per transaction and immediate shutdown. Using a debit/credit card to purchase cannabis is not only against network rules, subject to the same fines but may also be considered illegal.

 

At Switch Commerce, we have the solution you need for deploying ATMs in cannabis dispensaries and CBD locations. Avoid the potential fines and getting shut down. Contact us today for more information by clicking  here  or by calling one of our Support Engineers.

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