Based out of Sherman Oaks, California, PaymentCloud has been in business since 2010. On top of merchant cash advances, we offer a variety of cannabis payment processing solutions to businesses in the marijuana industry, including: Contact Paybotic at 844. Fully transparent and compliant merchant accounts; One of the largest, highly recognized US payment processors; Lower Cost, Fast approval times, No early termination fees; Retail or eCommerce merchant accounts; Whether you run retail stores or an ecommerce website, we have the CBD payment solutions to help you start or grow your business. 79%. The company’s products and services include point-of-sale solutions, online marketing tools, an online payment gateway and virtual terminal, mobile credit card processing, and merchant cash advance. In 2019, Shopify began supporting the sale of hemp and hemp-derived cannabidiol products. For example, if you process $20,000 or more a month, or if you have an average transaction amount of $500 or more, you risk more opportunities for higher chargeback ratios. 8. First, we’d talk about why CBD for sale needs high-risk merchant services. They need to submit more information about their products. Durango Merchant Services: Best for highest-risk businesses. Get Approved for a CBD Business Account Today! GET APPROVED QUICKLY GET STARTED 99% of applicants obtained high-risk business accounts HIGH APPROVAL. Call us: 1(877) 441-6801. Here are brief overviews of the seven best merchant account providers in the industry that accept CBD merchants: PaymentCloud: Best For Dedicated Account Manager For Customer Support. eMerchant Broker Location: Irvine, CA CBD payment processors are merchant service providers that allow businesses to accept credit and debit card payments for CBD products. Up-to-date certificate of analysis (COA) for CBD products. Helping CBD merchants get approved quickly with competitive rates. Quick Recap: The 4 best CBD merchant service Providers. 9% + 30 cents for cards or 1% with a minimum $1 per transaction for ACH bank transfers (invoices only), and 3. Card on file transactions. 95% FLAT. Shopify’s payment processor doesn’t support CBD stores. S. Lightfire Merchant Services is a Premium Merchant Services Provider specializing in servicing those within the E-Cigarette/Vape/CBD industry. PayKings steps in as the reputable and knowledgeable payment processing company for your CBD Oil merchant account. Corepay: Best For Mail-Order/Telephone Order-Only Accounts. 30; In-Person: 3. GET STARTED. These processors have special agreements with banks and credit card companies that allow them to process these types of transactions. Signing up with the best CBD merchant processing company from day one saves you the time and frustration of getting shut down by. Here are the types of businesses that can benefit from a high-risk merchant account. Instabill also requires a six-month rolling reserve from each merchant. PaymentCloud is a top recommended credit card processor for kratom businesses. Hemp Oil Tinctures Our esteemed banking relationships have been carefully developed over time. Square: Best For New Startups. They need to submit more information about their products and marketing strategies. How to apply for a CBD Merchant Account. These are NOT the cannabis plants grown for marijuana and hashish. High Risk Merchant Account Instant Approval; About us; Rates & Fees; Contact Us (800) 956-1277. We only focus on the CBD and hemp industry and stay informed of the latest regulations and developments within the market to assure that our large. Securing CBD oil merchant processing can be very difficult. 3% more THC. How To Apply for CBD Merchant Account. Note Code 06 is currently unused but is reserved for future use. 7-14 day approvals, worry free merchant accounts, and hands-on customer support. Some users take it for insomnia, pain relief, appetite, or concentration; however, it’s important to note that these uses haven’t undergone enough testing and therefore, any statement about the health benefits of CBD is not FDA-approved and could subject the merchant to warnings or fines. Get fast account approval. With these criteria in mind, let’s look at our top seven high-risk merchant account providers: PaymentCloud: Best For Free Credit Card Terminal. 4. A CBD merchant has still one more hurdle. Application – Apply to receive a payment processing account. As a high-risk industry, CBD and hemp merchants are subject to stringent compliance and tracking requirements. Tetrahydrocannabinol (THC) is a psychoactive compound and. Merchant processing is a must for any CBD business. 2), an acquiring bank is required to put a merchant on the MATCH list if the merchant’s account was terminated for any reason on the list, and they must do so within five days of termination. 6. 2% THC. Any CBD owner knows that merchant processing is challenging and there have not been many stable solutions. Trust us, that’s fast for a high risk credit card processor. In late September of 2019, EMB became a Shopify approved payment processor. A CBD merchant account is a merchant account that has been specifically approved fro use in processing payments relating to the sale of CBD products. Once processed, the funds are credited to a merchant account established by the business owner and when the payment is finally approved by the payment gateway,. Additionally, cannabis POS systems should be intuitive, easy to use, and backed by great customer support. Looking for high risk CBD merchant services? Contact High Risk Payments today to learn more about our tailored solutions for CBD merchants. Mon - Fri: 9:00 am - 5:00 pm; Apply Now. Here are two solutions available to merchants today on Big Commerce through. PaymentCloud’s bread and butter are finding payment processors for high-risk merchants, so it’s an easy choice for CBD. Despite the challenges the CBD industry faces when accessing payment processing solutions, FLEX Payment Solutions has committed itself to help you overcome these hurdles. The future sales of food and dietary supplement products containing CBD, which are commonly referred to as edibles, remain stalled at state and federal laws. Since we serve lots of high risk merchants or people who need to open merchant accounts for bad credit, we know how to get results fast. CBD Payment Solutions offers industry leading credit card processing, ACH, payment solutions for CBD. Lastly, opt for payment processors that align with your goals for a smoother journey. Accept payments for CBD products with a CBD payment gateway → 100% approval rate Expert risk management 24/7 support - Grow your business. (800) 956-1277. A CBD merchant account allows for the uninterrupted acceptance of non-cash payments for the sales of CBD OIL and Cannabis related products. CBD businesses may be subject to unavoidable high-risk merchant account fees. Level 1 PCI compliant payment gateway. You must go through three different processes to get a Shopify CBD account. So, on March 14, nearly all CBD brands began scrambling for a new solution before losing. Be charged higher pricing for credit card processing. 99% approval Having trouble getting approved for your high risk merchant account? Did you know HighRiskPay approves 99% of all applicants! FAST APPROVAL. Accelerate the growth and opportunity in your business. All payments processed while participating in the CBD Program, including non-CBD items, will have the following costs: Payment Method. Shopify’s payment processor doesn’t support CBD stores. CBD sellers cannot process electronic payments without a merchant account. PaymentCloud, situated in California, has produced the best merchant accounts since 2010 and now welcomes CBD companies. Speak with an expert: (877)-715-4501. Fees. Our highly trained staff is here to answer all your questions about CBD merchant account, pricing, contracts, and other services. Users also rave about eMerchant Broker’s onboarding experts and 24/7 customer support staff. to ensure. Choose and sign up with a payment processor that supports CBD stores. Be denied services completely. This will often mean going through and contacting various high-risk payment processors. PayKings focuses on customizing your banking solution and making sure you have the lowest rates possible. Here are the 15 largest high risk industries that need payment processing. Our Cannabidiol Payment Processing fees and charges are the most competitive in the industry!A new, risky CBD installation processor purchases the. For example, business owners may: Have strict limitations on the number of transactions that can be processed per month. The “auto-approved” accounts had hardly any oversight…which allowed for those less than reputable marketers to jump in and start selling using things like free trial offers. The winds, though, are shifting and some payment processors are paving the way toward a more harmonious future for cannabis. CBD Merchant Account Approval Process. Get the best high risk merchant account for your industry. As you can imagine, there are hundreds of different merchant category codes. com is one of the leading High Risk Merchant Account providers of credit card processing & payment gateways to businesses with bad credit. The best rates for CBD credit card processing in the USA and Canada. These guys got me approved within a week! Great experience and I will definitely work with them again in the future. Our offerings include a reliable, affordable, and safe credit card processing along with ACH. The merchant must grant the processor access to scan their POS system intermittently, and usually once a month, to ensure no unapproved products have been added to the merchant offerings. Banks underwrite and. Corepay offers the following for CBD merchants: Fast CBD account approvals with 24-72 hours. Why Exactly are the Payment Services Refusing to Accept CBD Transactions? The CBD industry accounted for $2 billion in 2018 1. eMerchantBroker boasts an A+ BBB rating and can be trusted for all your CBD high risk credit processing needs. Keys to Getting Approved for CBD Merchant Processing. With online CBD sales, the processor frequently scans the website for products not approved on the merchant application. CBD Merchant Credit Card Processors. Shopify. If you’re looking to sell CBD online, it can be tricky to know where to start. 4. There were many issues with. Considering the whopping figure, any merchant would want to take advantage of this profitable market. Get Approved & Start Processing with Peace of Mind. A high risk merchant account cbd is essential so that the account holder receives the payment processing services necessary for accepting credit and debit card transactions. Don’t let high fees suck your company dry. Cannabidiol (CBD oil) is a compound taken from hemp plants (cannabis sativa) also known as industrial hemp. To sell CBD products, however, most merchants will need a high-risk CBD merchant account and an acceptable CBD payment gateway. 3% total Δ9-Tetrahydrocannabinol concentration. 95% + $0. S. Durango Merchant Services: Best For Offshore Merchants. If you’re ready to take your hemp-based business in North Carolina to the next level, it’s time to set up a CBD merchant account! CBD Businesses Wanted. 98%. 1-800-988-2215. Due to the higher-risk categorization, the CBD industry often uses alternative payment processors such as HighRiskPay. Charlotte's Web is a large and recognizable supplier with potential for better sales. Instabill. It can be tough to find a processor that has a high level of experience working with CBD merchants. This gives. Due to all the legal complexities and state-specific regulations associated with the CBD industry, many traditional banks and payment processors usually avoid working with CBD businesses, leaving them. Charlotte's Web provides a dropshipping program with a wide range of products,. It doesn’t offer users the same high. To process credit cards online, you’ll need a solution that allows your Shopify CBD business the ability to operate. As a result of these factors, CBD merchants must use a specialized high-risk merchant account with their Authorize. Lastly, you need a trusted CBD manufacturer or supplier, especially if you opt for dropshipping and plan to market your products. Merchants have had to deal with unconventional payment and non-transparent payment solutions for years with some combination of ridiculous pricing, inconvenient funding terms, holdbacks and reserves, and the issue of being shut down months after getting approved. Just make sure to follow FDA regulations to ensure your CBD business is approved for a merchant account to sell. HISTORY OF CBD MERCHANT PROCESSING. Since its founding in 1997, High Risk Pay has become one of the industry’s firms with the most rapid expansion. com. More on CBD Payment Processor Highriskpay. CBD merchants of all sizes are welcome to apply. PaymentCloud offers third-party gateway capabilities, integrations with. BigCommerce CBD Limitations. Finding a high-risk merchant service provider is a rewarding feeling but it is only the initial step in securing approval. Begin accepting credit and debit cards for CBD products today by filling out EMB’s simple online application. 2. com to get approved for CBD merchant accounts without challenges. eMerchantBroker – Based in Los Angeles, eMerchantBroker offer high-risk merchant accounts for CBD oil and hemp retailers. 4 Best for Ingestible CBD Products: Easy Pay Direct. Bank statements will likely be requested (again, prepare at least three to six months’ worth). Accessed March 1, 2023. PaymentCloud offers third-party gateway capabilities, integrations with retail terminals and online shopping carts, and staying up-to-date on changing legislation. Segpay CBD merchant processing is available for hemp-derived products with a 0. The exact process varies from one merchant processor to the next. Durango Merchant Services: Best For Offshore Merchants. CBD is thought to have an array of health benefits. Plus they have the lowest rates at 2. 9% and $. Bankcard International is a payment services provider that offers POS and virtual processing services for diverse industries, including the CBD sector. Elimination of unnecessary hours you and your team spend on invoicing, billing, and payments, so you can focus on what matters the most – growing. Stripe may be able to support businesses on its Restricted Business List with explicit prior approval. CBD Merchant Service was established to provide real payment processing solutions for real businesses involved in selling CBD and hemp products. Unlike other types of merchant accounts, CBD merchants must undergo heightened due diligence. Immersed in Knowledge and Focused on Your. Pinpoint Payments values your business and helps protect it: Industry-leading fraud prevention Real-time chargeback management “High-risk” merchant accounts . 24/7/365 knowledgeable customer support. PaymentCloud is a registered ISO/MSP of BMO Harris Bank, Chesapeake. If you’re a “hard-to-place” merchant, like a medical marijuana dispensary or hemp oil manufacturer, you likely face difficulty. Selling CBD is perfectly legal in the United States. As of the writing of this post, PaymentCloud is currently approving hemp merchant accounts, kratom merchant accounts, and CBD merchant accounts for credit card. Essentially, a CBD merchant account provides businesses with the ability to accept debit and credit card payments from customers. 3. The acceptance of credit cards. The term “CBD merchant account” refers to a merchant account that allows you to accept credit card payments and that your service provider has approved for usage in selling items derived from CBD. When you apply for a CBD merchant account from PaymentCloud, you’ll get approved. 3. net account. Another mind-blowing statistic is that over 26,400 partners referred a merchant to Shopify in one year. Give us a call at (800) 993-6300 or fill out the contact form below to get your CBD merchant account approval process started. A CBD merchant account and payment processor. Auto transport merchant account and consulting services. Merchants have had to deal with unconventional payment and non-transparent payment solutions for years with some combination of ridiculous pricing, inconvenient funding terms, holdbacks and reserves, and the issue of being shut down months after getting approved. They currently offer the following for cannabis companies: True pin Debit; AHC and eCheck. How To Increase Your Chances Of Getting Approved For A CBD Merchant Account Typical documentation required for a CBD merchant account is as follows: Government-issued photo identification. We understand the blood, sweat and tears you’re putting in to make your business great. To swiftly move the process along, businesses need to make the following documents available to processors and underwriters: A valid, government-issued ID, such as a driver’s license. You can fill out an online form detailing information about your business and CBD products. We offer lower prices than the competition and 20 years of expertise. The service is powered by Tranzlytics and is well regarded for their wide range of services. ECS’s services and solutions include: Credit card processing. EarthE CBD Provides Excellent Customer Service Along With the CBD Payment Processors in Shreveport, LA For the Merchants Who Face any Kind of Problem While Managing the Finances of Their Account. For example, business owners may: Have strict limitations on the number of transactions that can be processed per month. S. It can. The fact that CBD is manufactured from the hemp plant makes the industry a high risk one. Until CBD is fully legal and receives stringent quality control, retailers will continue to be considered high-risk. There aren’t very many CBD limitations on BigCommerce’s platform. Low Rates & Fast Approvals. However, you’ll run a lower risk of account freezes and holds. This article will cover everything you need to know about Shopify CBD. 75% rate comparable to a low-risk merchant account. E-Cigarette/Vape/CBD Business Whether you are a start-up business looking to make your mark in the industry or a wholesaler that is already processing large volumes, LightFire Merchant Services is the. Advanced chargeback protection programs. HighRiskPay. Due to the inherently higher risk associated with CBD products, CBD merchant accounts inevitably come with higher prices and more restrictive policies than low-risk accounts. High Transaction Volume. The average setup time is less than 2-3 business days. National Processing: Best For Clover Processing Hardware. Adhering to these standards is challenging with a cash-only or self-managed payment processing strategy. However, constraints usually come from the payment processors. 1 Best Overall: Square. Boasting competitive chip, dip and swipe rates, PaymentCloud utilizes third-party processors and collaborates with banking institutions throughout the U. If you sell CBD oil, vapes,. With its free virtual terminal that enables businesses to track CBD sales easily, PaymentCloud has one of the highest approval ratings of all CBD merchant processing solutions. EMB are reputable, high-risk specialists, providing high-risk merchant accounts for CBD merchants. Elevated Processing offers: High Approval Rates: We have established relationships with banks that are familiar with and open to the CBD and hemp industry, ensuring higher approval rates for merchant accounts. 2. Even so, these processor have policies regarding CBD credit card processing that change frequently and often without notice. At Paybotic, we keep detailed sales records and will help you remain compliant by completing audits and submitting required documents. However, the general steps are similar; Identify the right payment processor. CBD merchant processing has been a revolving door of bank solutions that first say. Online the rate is 2. We utilize a variety of processing techniques to ensure that your CBD merchant processing is a smooth and simple process. The first step to applying for a high-risk merchant account approval for CBD oil online payment processing is to find a credible account provider. It is our mission to help our local businesses find processing solutions which will maximize the benefits and minimize the costs associated with electronic payments. Welcome to The CBD Processors! We appreciate your visit and are very excited to present to you the premium merchant processing service for the entire hemp industry. it would be challenging to continue processing CBD-related transactions without the company’s knowledge. Be prepared for tiered pricing; higher statement. based companies shouldn’t be treated like offshore merchants. Reach out to a Payments Advisor at 1-877-843-5690 or. As a trusted CBD payment processor, we get merchant accounts for cbd and hemp products approved quickly. This solution is designed for those that have a brick and mortar storefront, e-commerce or offer curbside pick-up. S. Shift Processing can get approval for our high risk merchant accounts in as little as 48 - 72 hours. The key lies in finding the right partner for CBD credit card processing. A high risk merchant account is a type of payment processing account for unique businesses. CBD is one of the industries classified as “high-risk” in payment processing due to a variety of factors. At the moment, we cannot provide a credit card merchant processing account for any cannabis products containing cannabidiol, cannabinoid, tetra-hydro-cannabinol (THC) in excess of the allowed. HighRiskPay. Here their processing company will collect important information. According to Mastercard (SRP, Section 11. A CBD retail merchant account is an account that allows you to accept credit card payments made for CBD products. Credit card payment processing companies facilitate high-risk merchant accounts with their special bank privileges to process digital transactions for industries, merchants, and products that. While it’s less common than Delta-9 THC, the psychoactive ingredient that most cannabis users know best, more and more is being learned about this cannabis ingredient. M. Stellar Financial Track Record. CBD merchants who sell CBD and hemp products need a CBD merchant account. After that, you need to wait for account approval. Search. The best CBD payment processor helps you get approved fast for your CBD merchant account. High-risk payment processors have additional privileges to process transactions for merchants in industries that carry a potential risk of frequent chargebacks, fraud, and legal concerns. 3. Longer approval times are almost always due to delays while underwriters wait for additional information from the business owner. Recognized as one of the nation's Top CBD Merchant Processors by 10Buds for 2022The company has an extremely high approval record for merchant accounts. Many herbal payment processors might offer kratom credit card processing services however, kratom is a prohibited product by the card networks. Research necessary regulations. Best for international merchants. 5 weeks!As a result, CBD/Cannabis merchant accounts have become increasingly popular in Canada as a way for businesses to accept credit and debit card payments from their customers. A CBD payment processor, ecspayments. merchants to obtain an international processing account to accept credit cards. CBD businesses may be subject to unavoidable high-risk merchant account fees. At Corepay, we specialize in high-risk processing, with. Low Rates. Payment gateways and merchant accounts are generally not CBD friendly, even. We provide Smoke Shop Merchant Accounts credit card processing with Free POS and 2. Note Code 06 is currently unused but is reserved for future use. Give us a call at (800) 993-6300 or fill out the contact form below to get your CBD merchant account approval process started. Here are brief overviews of the seven best merchant account providers in the industry that accept CBD merchants: 1. Due to its relation to the entire cannabis industry, however, CBD is often seen as high risk by traditional payment processors and banks. Here are a few of the merchant processors that currently allow for CBD product sales along with a brief description of what customers have to say: DigiPay Solutions: DigiPay Solutions specializes in high risk industry transactions. In addition, many marketing platforms prohibit you from. It doesn't have to be. Enjoy faster funding, as soon as same-day. Headquartered in California since 2010, PaymentCloud is a merchant account provider for low, medium, and high-risk businesses, now offering services for CBD sellers. That’s why it’s critical to turn to a reputable credit card processor like emerchantbroker. 1. 4. But, in general, the portal can manage and track your payments, communicate with your payment processor, and organize. At Merchant Advice Service, we understand the unique challenges faced by CBD businesses when it comes to accepting credit and debit card payments. According to Mastercard (SRP, Section 11. However, t hey are currently in the trial phase of allowing CBD companies, so only large CBD companies processing more than $10,000/ month have access to this potential solution at this time. 3% of THC, the substance in marijuana that causes a high. Establishing a merchant account is a necessary step in any business, and a simple one, in most cases. To sell CBD products, however, most merchants will need a high-risk CBD merchant account and an acceptable CBD payment gateway. Unlike other types of merchant accounts, CBD merchants must undergo heightened due diligence. While these fees don’t result in the best value, the company is transparent about its pricing, making it easy to predict your business’s processing costs. Card-not-present transactions. 85% and . One of the biggest US based processors just announced they won't be processing for CBD anymore - which leaves so many companies in a compromised position. PayKings focuses on customizing your banking solution and making sure you have the lowest rates possible. Most tier-one banks and payment processors will consider CBD a high-risk industry, which can make it difficult to obtain a merchant account to sell CBD online, especially if you sell directly from your own site. 877. $125 of that is the onboarding fee and the other $500 is a deposit. 1. This essentially put CBD merchants on “auto approval. ECS’s services and solutions include: Credit card processing. The purchase of HighriskPay by Unsafe shows that the CBD market is gaining popularity. Research necessary regulations. But proponents claim it can have significant health benefits. This company specializes in placing high-risk businesses – including those in the CBD industry. . Here are five other considerations for selecting a payment solutions provider for your CBD business: 1. We provide Smoke Shop Merchant Accounts credit card processing with Free POS and 2. 2110) allows grower/processors to obtain hemp only from a person holding a permit issued by the Department of Agriculture to grow hemp. Merchant service providers that are willing to take on CBD accounts can be hard to find. Merchants that process high transaction volumes or transaction amounts may be subject to a high-risk merchant account. Rates begin at 2. 2 Best for External CBD Products: PaymentCloud. They also cater to high-risk businesses like vape and CBD companies. Whether you are a startup CBD merchant, a mid-sized business, or a huge company processing millions per month, you can get a CBD account easily. That means you need to apply and be approved for a merchant account under one of the following processing platforms. Fill out the CBD merchant account application form. Payment Processing –. Yes, you can sell CBD in all 50 states on Shopify. Besides leasing POS systems, Bankcard International offers several CBD payment gateways and integrations with e-commerce platforms like Shopify. Easy Sales Tracking. PaymentCloud is a leader in providing high-risk merchant accounts to meet the needs of businesses across various industries. 3. Since the obligation is between the acquiring. Let’s Talk About the CBD Industry. Apply for a Merchant Account in Mexico now! Contact Option* Call me ASAP Call me anytime today Email me Anticipated Monthly Processing Volume* up to $10,000 $10,000 - $50,000 $50,000 - $100,000 $100,000 - $250,000 $250,000 - $500,000 $500,000 - $1,000,000 $1,000,000+ Not SureAs a high-risk industry, CBD and hemp merchants are subject to stringent compliance and tracking requirements. You need to submit the application form and supporting documents. The BC Liquor Distribution Branch (LDB), under the brand BC Cannabis Stores, only sells non-medical cannabis produced by licensed producers approved by Health Canada. Here my overlay on our current situation in the CBD industry’s payment sector: Cards (credit/debit): most sought after, high rate of account openings and forced closings due to regulations. Discover how to reap the benefits and access the key component for processing CBD payments. S. Although Shopify merchants cannot use Shopify’s payment gateways, they can take advantage of. With this being said, rates are subject to change as this program is still in beta testing. With easy integration, our top-of-the-line products give you more flexibility to accept payment for CBD and Delta 8 however and whenever you like. Therefore, serious businesses can hardly avoid CBD payment. 03%. The best CBD payment processor helps you get approved fast for your CBD merchant account. We provide secure payment gateways (shopify, woocommerce, etc), ach & credit card processing. SMB Global: Best for Ultra High-Risk Merchants. 2795 Openly Accepting Hemp and CBD Industry Merchants with Domestic and International Solutions Available to Fit Your Needs Learn More Get Approved with Low. Credit card payments are deposited through ACH directly into the account. 3% THC concentration as allowed by Federal Law. As CBD merchants are considered high-risk businesses, many credit card processing providers and payments processors will not allow CBD merchant accounts. 3-5 business day approval process after your approved paperwork is complete and submitted. These startup businesses, companies selling vaporizers, CBD products, and software to marijuana users or marijuana companies, were kicked off payment processors and other mainstream business. S. With online CBD sales, the processor frequently scans the website for products not approved on the merchant application. Georginix is a big company that responds fast and gives valuable advice, but requires a compatible website and pre-approved CBD merchant processor. At Paybotic, we keep detailed sales records and will help you remain compliant by completing audits and. GET STARTED. When you’re searching for the right CBD payment processor you may find that many high-risk merchant accounts come with high fees, and it can be helpful to shop around for a CBD payment processor with lower fees than other companies. “BigCommerce Goes Green“. The CBD Processing – CBD Merchant Account Approval HAVING TROUBLE GETTING A CBD MERCHANT ACCOUNT? We Can Get Your CBD Merchant Account Approved!. 420. CBD Payment Processing 101. Whether a brick-and-mortar storefront or e-commerce establishment, we offer custom and scalable CBD and hemp payment. Prior to applying for merchant accounts, you should ensure they have several months of good processing histories and few chargebacks. Even though hemp, and by extension CBD oil, has been. In thisSocial Links. Credit card payment processing companies facilitate high-risk merchant accounts with their special bank privileges to process digital transactions for industries, merchants, and products that carry the risk of frequent. However, these fees are dependent on the risk level of your business. Lack Of FDA Approval. Keep in mind that Shopify has only opened this up. Finding a payment processor that meets the needs of a high-risk business in the CBD industry can offer processing solutions that wooCommerce does. Voided check or bank letter. Our expertise lies in providing guidance and support to high-risk industries, including CBD merchants. EPP Merchant: Applicable Tenure: Onetime Processing fee: Jumbo Electronics: 3, 6, 12, 24 months: 1. Signed merchant application. 25% - 6. Our CBD merchant services cover. This is why the approval rate for CBD-related products is so low, and as a business owner, you find it challenging to grasp a secure payment processing company. You must have minimum weekly sales of at least $1,500 and a short of selling CBD. Authorize. Your merchant account, once submitted will take about 15 days for approval, integration (if needed) and any other processes to help get your company’s eCommerce or retail store properly integrated to accept credit cards again. Our payment processing services offer fraud protection to secure your account and your cardholder’s data. Delivery is allowed as dictated by local and state laws. In most cases, when looking for a merchant account, the onboarding process is relatively fast. Remember that credit card processing for smoke shops may come with a higher challenge of merchant account approval due to the perceived higher risk. Corepay: Best For Mail Order/Telephone Order Businesses. Moonlight Payments is our recommended choice for CBD merchant account services, with its industry-focused features, integrated solutions, and commitment to legal. Keep in mind that Shopify has only opened this up for US-based. As such, Square’s CBD processing fees are higher than Square’s standard processing fees. Adept Payments, a financial services company, pledges reliable, customer-centric payment processing solutions. CBD Requires High-Risk Payment Processing If you encounter payment processing challenges, this section, and the next cover all you need to know about the logistics of high-risk payments. This is great until you start processing and they realize what you are selling. published a study on the Cannabidiol (CBD) market.