CS Compliance Systems can take credit cards from cannabis dispensaries after the consulting and technology firm worked out previous issues with its merchant service provider.
Last month, CS Compliance Systems said its credit card processing privileges were revoked by the provider it’s working with because the firm works with marijuana businesses. The Denver-based firm announced Wednesday it was successful in its appeal.
CS Compliance Systems planned to start accepting credit cards from dispensaries in Colorado and Oregon in October in exchange for use of its CannaScore software application. The application is designed to provide dispensaries with their own version of a credit score based on how well they're following government regulations.
"Companies that score high may be more likely to attract funding, obtain favorable rates, demonstrate reliability to landlords, and even attract new customers," said Tom Smith, managing partner at CS Compliance Systems, in a statement.
Business & data reporter Adrian D. Garcia can be reached via email at [email protected] or twitter.com/adriandgarcia.
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