In a matter of weeks, the holidays will be behind us. Decorations will be boxed up, presents will be put away or returned, thank-you cards or emails written, diets begun, and new ventures embarked upon. One vertical a number of enterprising payment professionals have taken on with gusto for the coming year is legal cannabis sales. Medicinal marijuana sales have been legal in a number of states for several years, and a small group of states have now deemed recreational cannabis product sales legal, including California, where such sales will be allowed as soon as the ball drops in New York's Times Square.
However the fact that the federal government continues to categorize cannabis as a Schedule 1 narcotic on par with heroin presents significant legal and logistical challenges, with federal banking regulations being high on the list. That said, entrepreneurs are finding work-arounds, and some envision not just sorting out the payments piece of the puzzle, but also providing a suite of services tailored to the vertical. This issue's lead article delves into the challenges and solutions at this juncture in the evolving cannabis sales sector.
Given the ongoing disruption in payments, adapting to change will continue to be critical in 2018, and articles from contributing writers come through on that score, as well as on such topics as merchants' interest in cash discount programs, the Senate's rollback of the CFPB's anti-arbitration rule, reducing your merchant portfolio's MATCH list risk, the continued fallout from the Equifax data breach, and combating fraud during the holidays.
Along with product and company profiles, we've also included briefs on a number of news stories posted at www.greensheet.com in recent weeks, as well as updates on company and individual professional milestones, new partnerships, appointments, research, acquisitions and more.
As we put this issue to bed and begin work on our final issue of 2017, we want to thank all of our loyal readers, contributing writers and advertisers who continue to support our mission to educate and empower the payments industry's feet on the street. The resilience of ISOs, merchant level salespeople and other essential payment professionals is exceptional, and we are thrilled to have been fostering success in this sphere since 1983.
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