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How does MasterCard even know what the payment is for?
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That's the thing, everything is classified with a payment code now. Visa even does it with guns—they know if they cross that line though, they'll end up in a Bud Light situation. I don't even own guns and would never use Visa again. With some retailers they have it down to single items, like a branded loaf of bread. Getting payment processing that can process larger volumes is actually quite difficult now if you're not a franchise or tied to a retail site, even family restaurants struggle with processors
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What if the merchant intentionally puts in a different payment code, or uses something generic? As a merchant couldn't you sell cannabis as a generic 'health product', especially if you sell non-cannabis products too?
This payment code thing is one more reason to ditch Visa in favor of Bitcoin. Not only because of the surveillance, but also the messiness of it, the burden of having to enter this data into the system while following a convoluted, ambiguous set of rules that may get you deplatformed by Visa if you do it wrong.
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Mastercard bans all cannabis purchases
Not in Canada
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Correct. Federal ban still in effect here, which is stupid, because that federal ban should've been lifted years ago, and left it to the independent states to decide, as they already do. It's inefficient and mostly tied to the [failed] drug war efforts, and the realization of how many sentences they'll have to commute. It'll fall sometime in the next 2 Presidential Administrations tho
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