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.
Cannabis businesses say the decision will increase the risk of robbery and violent crime.
“As we were made aware of this matter, we quickly investigated it,” a spokesman for Mastercard, one of the world’s largest payment processors, said in a statement on Friday.
“In accordance with our policies, we instructed the financial institutions that offer payments services to cannabis merchants and connects them to Mastercard to terminate the activity.”Medical marijuana is legal in 38 states, three territories and the District of Columbia.
Recreational use of the drug is legal in 23 states, two territories and the District of Columbia.
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