Fiserv Unit Wants Out Of Cannabis Credit Card Co. Blowup – Law360

Law360 (December 2, 2019, 8:08 PM EST) — A unit of financial services provider Fiserv has asked a New York federal court to take control of nearly $620,000 tied to an embattled cannabis payment processor, claiming it doesn’t know how to distribute the disputed funds to a clutch of marijuana retailers who claim they are owed.

First Data Merchant Services LLC told the court on Nov. 26 that several companies are demanding money associated with Linx Card Inc., which provided a card payment system for cannabis retailers before imploding amid allegations of fraud and millions in missed payments. First Data said it doesn’t know how to resolve the various…

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