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The Intersection of Banking Reform and Cannabis Retail

Learn more about the intersection of banking reform and cannabis retail with Alexander Lipnik, AeroPay, and Peter Su, Greencheck Verified.

Alex Lipnik is the Head of Strategic Partnerships at AeroPay, a digital payments platform for the cannabis industry. In his role, he works with ancillary technology companies – including delivery, eCommerce, and POS providers – to create seamless payment experiences for cannabis businesses and consumers alike. He also serves on NCIA’s Retail Committee.

Peter Su, Green Check Verified, Peter Su is a member of NCIA’s Banking and Financial Services Committee and chairs the banking and financial services committee for the New York City Cannabis Industry Assoc. Peter is a certified cannabis banking professional (CCBP) as well as a Certified Commercial Cannabis Expert (CCCE).

We start by talking about the SAFE Banking Act, which passed through the U.S. House a handful of times but always gets stuck in the Senate. Cannabis businesses are still struggling with cash-heavy retail operations. NCIA has pointed to how having so much cash floating around is actually a public safety issue attracting criminals with nefarious intentions. Getting into the nuances of SAFE Banking and how that would actually impact cannabis companies, particularly retailers who are dealing with customer transactions on a daily basis. We talk about if it were to pass and get signed into law by President Biden and the whole nine yards tomorrow, what that would actually mean for cannabis retailers?