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Cannabis Cos’ Financial Struggles Spread Far Beyond The POS

PYMNTS

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. A Shifting Regulatory Landscape.

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Credit Union Helps US Marijuana Businesses Put Down Roots

PYMNTS

A few weeks before the CCC issued its final licenses, GFA Federal Credit Union of Gardner, Massachusetts, announced it would be willing to work with legalized marijuana businesses, extending financial services to the industry and providing marijuana retailers with the same financial benefits used by traditional businesses.

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Reverse Trend

Independent Banker

billion in assets and operates 60 retail locations, is licensed to originate reverse mortgages in most of the United States. It’s not like cross-selling a credit card.” New FHA guidelines. More of the bank’s retail loan staff members also are being trained to start the reverse mortgage application process.

Trends 70
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Fizzle Of The Week: The Cannabis Payments Conundrum

PYMNTS

states (and the District of Columbia) where marijuana has been legalized for sale in some capacity, it has thrown off a fairly large chunk of tax revenue in the last year. billion in taxes from legal cannabis companies last year, an amount of money that is undoubtedly a sizzle for the federal coffers.

Taxes 177
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The Apple iPhone Sales Rope-A-Dope

PYMNTS

It did so because apps like Netflix were avoiding signing up subscribers through the App Store to evade the Apple tax. Apple figured it was better to cut the ongoing tax to get subscription plays on board. The Apple Tax Man Cometh. Like, it needs to figure out a way to tax all of the other apps in the App Store.

Apple 174
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Fintech Fundings: 26 Companies Raised $530 Million Third Week of July

Fintech Labs Insights

Retail deposits platform. Guideline Technologies. Tax filing portal. Tags: Consumer, payments, debit card, billpay, funds transfer, mobile, personal financial management, PFM. Payment gateway. Latest round: $17.5 million Series B. Total raised: $20.4 HQ: Bangkok, Thailand. Source: Crunchbase. Deposit Solutions.

Fintech 12
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Horn Sounding On The Future Of Freight Delivery

PYMNTS

Today, thanks to convenient technological advancements, a vast number of merchants – from mom-and-pop shops to traveling retailers – are increasingly able to accept payments via mobile solutions. Even lemonade stands can take credit cards if they’re equipped with a smartphone or tablet. The process is very, very clear.

Industry 101