ANN ARBOR – The Michigan cannabis community has had difficulty getting approval by credit card companies to pay for cannabis. Now with a new product from Desert Creek Ventures, a binary credit card processing system will let anyone use credit cards to pay for their purchases.
William Shaw is introducing this legal financial process to Michigan growers, retailers and processors so they don’t have to handle cash and are able to reach the 41 percent of customers that prefer to pay with credit cards.
The legal adult-use cannabis industry in Michigan is on track this year to generate about $3 billion in revenue, of which 16 tax percent goes back to the state, cities and municipalities. Making credit card purchases available to consumers has the potential to increase sales even more.
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