Double M Herbals | Kratom Forum

https://www.cnn.com/2021/03/02/tech/squ ... index.html

Be interesting to see if this turns into something. Could be a future option for vendors (if this payment brand isn't already) not to mention the multi-billion dollar marijuana industry that has so-far been left out of traditional banking/payment options. I'm guessing that's why they rushed this out, if they get in first and don't screw it up, they'll make more money than they can count and maybe even afford a small army of lawyers to keep it going.

What do we think ?

Better than bitcoin

onespeedstop wrote: ↑Tue Mar 02, 2021 11:34 pm Be interesting to see if this turns into something. Could be a future option for vendors (if this payment brand isn't already)

Yep. Square owns Cash App, which is already ONE of the most popular payment methods for kratom vendors, across the board!! . what maybe people didn't know, or did not connect... Square IS owned by Jack Dorsey CEO of Twitter. Yep - that hippie dude who banned Dirty Donnie Rump. Twitter and Cash-App are like bro's in the same family!

Cash App can serve as a one-stop shop for many of your financial needs. Owned and run by Square, Inc., it is a mobile-first, peer-to-peer (P2P) payment service, bank account, debit card and investing service all in one. -- LINK -- https://www.magnifymoney.com/blog/revie ... -cash-app/

thnx.

I guess I'm just hoping that if/when it (any of those other online payment apps) becomes a "bank" then it will have to follow actual rules and regulations unlike Paypal who does whatever the hell they want. In a normal/rational/sane society, the govt. would have a free e-commerce option for those of us who need that and don't buy illegal things - like kratom. I mean then they would for sure have evidence to tax people who sell things online, but if they offered the service for free with the usual banking regulations then I'm guessing 90%+ of us would choose to use it.

Does anyone know the reasoning behind why the big CC companies and such don't want to handle transactions in the Marijuana industry? It seems they could stand to make a ton of money. Makes me wonder why they don't want to touch it with a 10 foot pole.

onespeedstop wrote: ↑Thu Mar 04, 2021 12:19 pm I guess I'm just hoping that if/when it (any of those other online payment apps) becomes a "bank" then it will have to follow actual rules and regulations unlike Paypal who does whatever the hell they want

This is a great point. Never EVER leave your cash sitting around in paypal, venmo, etc. They are NOT banks and do not have to play by the rules that banks do. Many people have found this out the hard way. Plus, they are not FDIC insured like a standard bank account would be. Always transfer your money to your bank.

e_poison wrote: ↑Fri Mar 05, 2021 12:21 am Does anyone know the reasoning behind why the big CC companies and such don't want to handle transactions in the Marijuana industry?

Because marijuana is still illegal at the federal level. In WA you can't use debit cards either. Cash only.

herbalhippie wrote: ↑Fri Mar 05, 2021 12:27 am

e_poison wrote: ↑Fri Mar 05, 2021 12:21 am Does anyone know the reasoning behind why the big CC companies and such don't want to handle transactions in the Marijuana industry?

Because marijuana is still illegal at the federal level. In WA you can't use debit cards either. Cash only.

oh.

(I feel like an idiot. lol)

The u.s. govt. really needs to get 'off the fence' about that. At least decriminalize it (marijuana) and let banks deal with the wholesalers/retailers. They are leaving money on the table by not just legalizing it and taxing it. Then again I sure hope they never "legalize" kratom cause then the price would go up for sure ha-ha.