Pymnts.com published an article recently about the challenges of banking cannabis businesses. The excerpts below are quotes from Hypur Chief Revenue Officer, Tyler Beuerlein.
From pymnts.com
"This is not a payments problem for the cannabis space," he told PYMNTS in a recent interview when discussing the market's notoriety for being cash intensive. "This is a banking problem."
The reality of marijuana businesses’ struggle to access the financial services they need is a complicated one, particularly considering the fluctuating regulatory climate at both the state and federal levels. Legalization at the national level is coming eventually, said Beuerlein, but that doesn’t mean banks’ willingness to service firms in this market is an inevitability.
