Warren, a member of the Senate Banking Committee, said there are benefits to letting marijuana-based businesses move away from a cash-only model.
“You make sure that people are really paying their taxes. You know that the money is not being diverted to some kind of criminal enterprise,” Warren said recently. “And it’s just a plain old safety issue. You don’t want people walking in with guns and masks and saying, ‘Give me all your cash.’
In order for banks to feel comfortable accepting cash from MRBs they’re going to need to verify the source of funds. That’s where our Automated Cashier comes in.
We associated every bill with an order in your marijuana POS and provide irrefutable source of funds to your financial institution. This need applies to any MRB looking to utilize traditional banking services.
Photo by Susan Walsh, Associated Press file