An article published by Leafly on cashless ATMs at cannabis dispensaries in San Francisco unexpectedly being shut down quoted Tyler Beuerlein, Hypur’s Chief Revenue Officer.
“Credit and debit networks are prohibited from any cannabis-related transactions happening on their networks,” Beuerlein said.
Regardless of what a merchant-services or ATM broker might tell a dispensary client, “A ‘reverse ATM,’ or a ‘cashless ATM,’ is still using a network and still prohibited,” Beuerlein said. Anyone offering this service to a dispensary is, somewhere along the chain, misleading or misrepresenting the bank as to where the cashless ATM terminal is located.
