Mastercard blocks marijuana transactions on debit cards, citing federal illegality
Fox News
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.
"As we were made aware of this matter, we quickly investigated it. In accordance with our policies, we instructed the financial institutions that offer payment services to cannabis merchants and connects them to Mastercard to terminate the activity," a spokesperson for the company said on Wednesday.
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