Standard Guide for Payment Processing Compliance in US Regulated Cannabis Industry

Importancia y uso:

4.1 The restrictions that prevent or hinder the cannabis industry from using common financial services create a cash environment that presents many financial and safety risks. This standard provides guidance to establish payment provider services.

4.2 This guide recommends:

4.2.1 Functional requirements a payment provider should meet to be approved to conduct financial transactions in jurisdictions in the US where regulated cannabis-related businesses are licensed to operate; and

4.2.2 A process for jurisdictions having authority to develop a process for payment provider approval and ongoing monitoring and management.

4.3 Payment providers can use this guide when preparing to provide payment services and establishing documentation and record keeping for ongoing evidence of compliance.

4.4 This guide can inform authorities who choose to establish oversight of payment providers.

Subcomité:

D37.10

Volúmen:

15.10

Palabras clave:

ach; automated clearing house; banking; bank secrecy act; bsa; cannabis; cash; ctr; currency transaction report; finance; financial institution; payment processor; payment processing; payment provider; sar; suspicious activity report;