CBD Merchant Account
A popular nutritional supplement derived from hemp called CBD oil lines the shelves of natural food stores and head shops across the Twin Cities. Although it hasn’t been approved for medical use, customers use CBD oil to treat everything from anxiety to restless leg syndrome.
There’s a lot of confusion out there when it comes to CBD. From its legality to what it actually is, cannabidiol (better known as CBD) leaves a lot of people scratching their heads. Is it marijuana? Is it even a drug? Where can I buy it (if I can legally purchase it at all)?
As demand grows for the oil, farmers and entrepreneurs in the world want a piece of the market. But the murky legal status of the supplement, and hemp itself is a challenge for an industry that already brings in an estimated $700 million a year nationally.
Merchant account solutions for CBD OIL are considered to be high risk in the online merchant account world due to the nature of how the oil is cultivated; this sends the banks and lenders an immediate red flag and your CBD oil merchant account is deemed as a high risk right from the get-go. This doesn’t mean you’re out of luck when it comes to eCommerce and payment processing online (also known as card-not-present transactions), it just means that you need to choose the right company to handle all your needs for CBD merchant processing.
The CBD oil industry has been booming over the past few years with these products becoming legal in more countries. If you are thinking of getting into this industry, you need to know everything you can before you start. One of the most important aspects of your business to focus on will be the Merchant account solutions for CBD OIL . There are a number of issues that you will face with payment solutions for CBD oil products, but there are also some innovative solutions that you can use.
Before you can look at the innovative payment solutions that you can use for a CBD oil product business, you need to know the hurdles that you face. A business that sells CBD oil products will not be able to use the traditional payment gateways offered to other retail businesses. This is due to the fact that CBD oil is still illegal in certain states and the state and federal legislation do not match in some areas.
This has led to a limitation in terms of merchant account solutions for CBD OIL/payment solution for people in the CBD oil industry. Banks will not allow you to open a merchant account with them if you have this type of business because it is still technically illegal on a federal level. Other traditional online payment gateways are also wary of CBD oil businesses because of the regulatory uncertainty.
Traditional merchant account providers will also generally reject applications from CBD oil businesses. This is why you need to look at other solutions for your payment system.
How We Help With Your CBD Payment Processing
ven if you’ve been told by others that your business is “too high risk to do business with”, we will always work with CBD merchants. Our core belief is that CBD merchants have as much of a right to process credit cards for their hemp-based products as any other, low risk business.
We have processing options to explore that other processors just simply cannot provide because of our expansive banking partnership network. Because we understand the CBD industry, we can craft a unique Merchant account solution for CBD OIL to meet your business’ needs and help your business grow.
The popularity of CBD oil business is witnessing ever-growing growth due to the considerable health benefits the CBD products offer not only to humans but also to the pets. Despite the growing popularity, CBD oil business is not legal everywhere, and legalized CBD business for medical purpose require the business entity to apply for a special license for selling the CBD oil for medical use.
The legal regulations relating to CBD businesses are evolving in various states, which make the industry to operate with a high-risk sector tag. The CBD business faces great challenges due to the high-risk nature of the business that attracts stringent legal regulations.
Obtaining a legitimate, fully featured CBD merchant account has the potential to greatly boost your business, and help you see the full potential that CBD payment processing can offer you. Many processors will turn you down and chances are, you may have tried with other merchant service providers before finding us.
We have helped countless businesses like yours with getting merchant accounts and providing their customers with a solution to pay via debit or credit cards for cannabis products. Yes, the industry has a higher processing risk, but that doesn’t mean you shouldn’t have access to merchant services that has been available to other merchants for years and make sales to customers who wish to pay with something other than cash.
W hether you’re a start-up trying to sort out your payment processing needs, or are a big player in the CBD world looking for better rates and services, iPayTotal can help you. Get in touch with us, and we’ll make sure your business is linked up with the best in the industry.
Our merchant services go beyond simply providing a CBD payment processing and we are always available to help and share our expert knowledge of the cannabis industry. Our aim is to ensure you receive a unique CBD merchant processing solution which will not only allow you to accept a broad range of payment methods but also increase your presence in the industry and grow your CBD sales.
The application process for a merchant account can be frustrating and time-consuming — especially for high-risk vendors. We pride ourselves on getting our customers set up quickly and without hassle, so they can focus on growing their business.
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