Today in B2B payments, Triterras discusses the Greensill Capital saga with PYMNTS, and the SAFE Banking Act re-emerges in Congress. Plus, Deutsche Bank collaborates on corporate banking, NuORDER partners with Black Diamond on B2B eCommerce, and a look at Italy’s push to digitize small businesses....
A Colorado Congressman, with the official backing of more than 100 colleagues from both major political parties, has reintroduced the SAFE Banking Act in Congress in a renewed attempt to legally protect financial institutions (FIs) that work with the marijuana industry. “The purpose of this...
With 79 percent of credit union members willing to switch to a financial institution with more convenient banking services, offering mobile apps is becoming increasingly vital for CUs. But many lack the resources to develop their own apps, making collaboration with other CUs crucial. In...
When considering the financial services (FinServ) challenges of the legal cannabis sector, the biggest point of friction that almost always comes to mind first is the point of sale (POS): enabling marijuana businesses to accept electronic payments from their retail customers. That challenge is undoubtedly...
April 19, 2023
In a curious reversal, the ongoing legalization of cannabis is akin to the repeal of alcohol prohibition of the 1920s, except in that case, the federal government lifted the ban before many states did. With cannabis, it’s the states that are rolling ahead with medical and recreational use, while the federal government drags its feet. […]
October 07, 2019
One down, two more steps to go: That’s the situation with the federal SAFE Banking Act, which recently won approval by the U.S House of Representatives. The bill promises to...
September 27, 2019
Since California first declared marijuana “legal” for medical consumption in 1996, transactions involving legally permitted cannabis have been complicated things. In fact, in the intervening 23 years, the situation has...
September 26, 2019
The U.S. House of Representatives passed H.R. 1595, known as the Secure And Fair Enforcement (SAFE) Banking Act, on Wednesday (Sept. 25). The bill was sponsored by Congressmen Ed Perlmutter of Colorado, Denny Heck of Washington, Steve Stivers of Ohio and Warren Davidson of Ohio, all members of the House Financial Services Committee. The legislation […]
