[2] CMS-Connected. eMerchantBroker – Based in Los Angeles, eMerchantBroker offer high-risk merchant accounts for CBD oil and hemp retailers. In certain cases, businesses listed below may be eligible for processing with explicit. Summary: Although CBD was completely legalized in 2018 with the U. Fast Approval. 4. 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. PayKings – The best choice for businesses looking for interchange-plus pricing and eCommerce shops ( Shopify). Offers debit & cryptocurrency payments. Payment gateways and merchant accounts are generally not CBD friendly, even. In this blog post, we'll take an in-depth look at 7 simple yet effective tips that will help ensure that you get the right CBD merchant processing services for your business. Corepay: Best For Mail Order/Telephone Order Businesses. 2. However, the general steps are similar; Identify the right payment processor. 0That’s why our paths crossing and you choosing the best in CBD merchant processing is so valuable. As the regulatory framework with the FDA gets worked out, the murky legal and banking procedures leave more “traditional” processors wary of taking on the risk associated with the CBD and cannabis industries. Clover POS: Best For Sophisticated Processing Hardware. 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. The acceptance of credit cards. This is when you need to dedicate your time to researching high-risk payment processors with experience in the field, high-quality customer service , low rates, and fraud protection . Those high risk merchant account providers, like PayKings, that are willing to process transactions for your high risk business are offering solutions to those merchants like yours in the CBD oil industry –. The payment industry has been slow to adopt the CBD vertical, but the landscape is changing rapidly. Georginix charges a $625 fee to join their program and requires a pre-approved CBD merchant processor. After the account issuer approves your account, you can begin accepting payments. High Risk Pay has got you covered. 3. Until now. Electronic checks also process quickly. We utilize a variety of processing techniques to ensure that your CBD merchant processing is a smooth and simple process. How to apply for a CBD Merchant Account. With this being said, rates are subject to change as this program is still in beta testing. com is one of the leading High Risk Merchant Account providers of credit card processing & payment gateways to businesses with bad credit. Finding a high-risk merchant service provider is a rewarding feeling but it is only the initial step in securing approval. Boasting competitive chip, dip and swipe rates, PaymentCloud utilizes third-party processors and collaborates with banking institutions throughout the U. However, most banks and processors still do not allow CBD merchants on their platforms. Some of the features of your CBD merchant account may include: Multi-bank processing (including off-shore) No. 6. American Express may require separate approval. What Is An Approved CBD Merchant Processor? Transform your business with a specialized CBD merchant account – allowing you to accept credit card payments and get express authorization from the service provider for selling hemp-derived goods. 877. Although they can’t place every company. Adept Payments, a financial services company, pledges reliable, customer-centric payment processing solutions. PaymentCloud is a leader in providing high-risk merchant accounts to meet the needs of businesses across various industries. In late 2018, the U. Here their processing company will collect important information. Users also rave about eMerchant Broker’s onboarding experts and 24/7 customer support staff. Accepts start-up businesses. 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. CBD is one of the industries classified as “high-risk” in payment processing due to a variety of factors. As such, Square’s CBD processing fees are higher than Square’s standard processing fees. 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. With online CBD sales, the processor frequently scans the website for products not approved on the merchant application. This means that CBD merchant accounts are exposed to a larger-than-usual degree of chargebacks and fraud, which will naturally unsettle a large, risk-adverse institution like US Bank. GREENWAY Payments has over 4 years experience specifically with CBD merchants. Shopify’s payment processor doesn’t support CBD stores. CBD businesses are classified as high-risk, so most of the popular merchant account providers are not willing to work with CBD based businesses. Apart from good integration options, reliable eCommerce payment processing accounts offer APIs to speed up transactions and more. S. Never miss a sale with powerful new ways to accept credit cards, anytime, anywhere in the U. As a high-risk industry, CBD and hemp merchants are subject to stringent compliance and tracking requirements. All payments processed while participating in the CBD Program, including non-CBD items, will have the following costs: Payment Method. This high-risk processor and this high-risk processor accept numerous industries that cannot get approved with traditional merchant account providers. This requires that CBD businesses set up a CBD merchant account specifically for the. PaymentCloud, situated in California, has produced the best merchant accounts since 2010 and now welcomes CBD companies. As a result, high risk businesses such as online CBD shops have a more difficult time obtaining merchant accounts. There aren’t very many CBD limitations on BigCommerce’s platform. As a result of these factors, CBD merchants must use a specialized high-risk merchant account with their Authorize. 5% + 10¢. Only a few merchant processors approve merchant accounts for CBD businesses. However, you’ll run a lower risk of account freezes and holds. 10 Host Merchant Services: Best for large high-risk businesses. Bankcard International Group (BIG) is a high-risk payment processor that specializes in the cannabis industry. Shift4 is already integrated into Shift4Shop, so you can get up and running right away. Instabill also requires a six-month rolling reserve from each merchant. The FDA has gone after. 1. Although Shopify merchants cannot use Shopify’s payment gateways, they can take advantage of. CBD Merchant Account; Continuity Subscription Merchant Account;. With a staggering 1,200 sanctioned hemp processors and 1,500 approved hemp cultivators,. A CBD payment processor, ecspayments. 1. Delta-8 THC is one of the four most common cannabinoids. 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 this blog, we’ll break down everything you need to know about. Twitter Facebook-f. In recent days, it has been just cbd sour gummy worms snowing, and the roofs and distant hills are sleeping quietly under. What Is An Approved CBD Merchant Processor? Transform your business with a specialized CBD merchant account – allowing you to accept credit card payments and get express authorization from the service provider for selling hemp-derived goods. ” Which, while it may look like a great selling point for the merchants’ CBD Shop UK , it backfired heavily. PayDiverse offers CBD payment processing at the lowest industry rates & has multiple banks that accept CBD merchant accounts. Keys to Getting Approved for CBD Merchant Processing. S. Durango Merchant Services: Best For Offshore Merchants. However, these fees are dependent on the risk level of your business. True PIN Debit (NOT Cashless ATM) and eCheck services that are 100% compliant and transparent. 1 Best Overall: Square. 79%. Our team of experts specializes in high risk merchant accounts, such as CBD oil merchant accounts. We offer an online processing of your merchant account application so we can begin processing your application immediately. Longer approval times are almost always due to delays while underwriters wait for additional information from the business owner. This being the case, it’s wise to choose a merchant account provider that has extensive. Finding a merchant account for CBD payment processing may take some effort, but it is possible to find a provider that can meet the unique needs of a CBD business. Our solutions integrate with mainstream processing plugins and allow for load balancing so you can have more than one merchant account. PaymentCloud is a top recommended credit card processor for kratom businesses. What Is An Approved CBD Merchant Processor? If you sell CBD products online, finding a processing company that is approved for CBD transactions can be a challenge. Credit card payments are deposited through ACH directly into the account. List of suppliers for CBD products. A high risk merchant account is a type of payment processing account for unique businesses. 2. A CBD merchant account and payment processor. You can then use Authorize. net account. 2. Our Cannabidiol Payment Processing fees and charges are the most competitive in the industry!A new, risky CBD installation processor purchases the. S. 8. Need a Merchant Account for your CBD Online Store? High Risk Merchant Account & Payment Gateway Provider⚡ Instant Approval Contact us ☎ (800) 956-1277. PaymentCloud offers third-party gateway capabilities, integrations with retail terminals and online shopping carts, and staying up-to-date on changing legislation. Below are the rates: Online Purchase: 4. Lastly, you need a trusted CBD manufacturer or supplier, especially if you opt for dropshipping and plan to market your products. If a product has been added that has a higher THC level greater than . Due to its relation to the entire cannabis industry, however, CBD is often seen as high risk by traditional payment processors and banks. Some merchant processors have accepted that CBD is here to stay, and are now allowing transactions on CBD products both online and in-person. Let Us Solve Your CBD Payment Processing Issues. Merchant Services for ALL business sizes and types. You must go through three different processes to get a Shopify CBD account. Mon - Fri: 9:00 am - 5:00 pmHemp is federally legal in the U. com. High Risk Merchant Account Instant Approval; About us; Rates & Fees; Contact Us (800) 956-1277. Remember that credit card processing for smoke shops may come with a higher challenge of merchant account approval due to the perceived higher risk. debt related services, CBD, kratom, cannabis, health supplements, or businesses that have an elevated risk of. Fill out the CBD merchant account application form. As a result, many banks, payment gateways, and payment processing companies categorize CBD sales as high-risk transactions and don’t support them. Due to the CBD industry’s high-risk classification, traditional financial services typically avoid partnering with those in this sector. . 99% approval Having trouble getting approved for your high risk merchant account? Did you know HighRiskPay approves 99% of all applicants! FAST APPROVAL. Moonlight Payments is our recommended choice for CBD merchant account services, with its industry-focused features, integrated solutions, and commitment to legal compliance within the CBD sector. 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. EMB offers CBD-friendly merchant accounts to businesses in nations all over the globe. Give us a call at (800) 993-6300 or fill out the contact form below to get your CBD vape merchant account approval process started. What you need to know: The payment industry has been slow to adopt the CBD vertical, but the landscape is changing rapidly. Easy Pay Direct: Best for Scaling High-Risk Businesses. To be eligible for a high volume merchant account, businesses must process at least $100,000 per month. This provider specializes in hard-to-approve business types and can currently supply kratom merchant accounts, Hemp merchant accounts, and even CBD merchant accounts. If you’re serious about growing your CBD vapor business and establishing a lasting payment processing solution, contact us today. The key lies in finding the right partner for CBD credit card processing. Moayyer indicated she had contacted 13 merchant service providers in the day preceding the interview and one – Square – said they do serve CBD businesses but the program is an invite-only beta. 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. Our dedicated staff is familiar with the Cannabis merchant processing industry and is always updated on changing legislation and how it affects your business. To get a Shopify CBD account, you’ll have to go through three different processes. Shopify’s payment processor doesn’t support CBD stores. It is important to note that third-party credit card processors will only work with those who sell CBD oil that is low-THC, made from industrial hemp as CBD oil from marijuana is considered a controlled substance. CBD, or cannabidiol, is an element of the cannabis plant that does not get you high like THC. S. Helping CBD merchants get approved quickly with competitive rates. Getting your application for a CBD merchant account instantly approved means you’ll have the ability to process payments immediately. 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. Best CBD Merchant Account Provider: Moonlight Payments. payment gateways, credit card processing, chargeback alerts & instant approvals. Pennsylvania’s Medical Marijuana Act (35 P. Research and compare different suppliers to find the best fit for your business needs. For example, you must have an e-commerce website, an. The only FDA-approved drug that includes CBD is Epidiolex. As you can see, a Stripe CBD merchant account is not specifically on this list. ECS’s services and solutions include: Credit card processing. published a study on the Cannabidiol (CBD) market. CBD merchants who sell hemp-derived CBD products at less than 0. Any high-risk merchant account is going to cost more than a similar low-risk one. I'll also give a positive shout out to Emerchant Broker (EMB) for doing an awesome job of helping CBD sellers. Sign in HomeCBD payment processing offers a way for merchants (aka business owners) like yourself to accept credit cards and other forms of payment. . These features and techniques include: Fast settlements to merchants. This article will discuss the key factors that banks look for when approving CBD merchants for online processing. Total set-up time is 15 days. The tricky part here is that Shopify doesn’t provide payment processing for CBD as it’s considered high-risk by banks and processors. 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. Another mind-blowing statistic is that over 26,400 partners referred a merchant to Shopify in one year. If you can keep your chargebacks below 3%, we will set up. We have done this by creating an industry-specific and professionally tailored merchant account for CBD businesses. 96. CBD Legalization in the United States. 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. Disable your customer’s SMS notifications. Trustpilot. BigCommerce CBD Limitations. 10. Find a dropshipping supplier. 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. DigiPay is fully integrated with. Then connect your store to your CBD dropshipping supplier’s system and boom. A CBD merchant account allows for the uninterrupted acceptance of non-cash payments for the sales of CBD OIL and Cannabis related products. As a trusted CBD payment processor, we get merchant accounts for cbd and hemp products approved quickly. You pay 2. They might take you on at. FINALLY, we have the first 100% above board, legal CBD merchant accounts in the US & Canada. Get Started. 8. Working with a company that specializes in working with high-risk merchants - which CBD businesses are. PayKings –. Here at The CBD Processors, we have years of experience in merchant processing and POS equipment. The CBD Processing – CBD Merchant Account Approval HAVING TROUBLE GETTING A CBD MERCHANT ACCOUNT? We Can Get Your CBD Merchant Account Approved!. Card on file transactions. Securing a merchant account is essential for any business that wants to accept credit card payments, but the process can be especially complex for businesses selling CBD. Each payment processing portal you consider will be a bit unique. 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. How To Apply for CBD Merchant Account. 7-14 day approvals, worry free merchant accounts, and hands-on customer support. k. Approval Timeline For CBD Merchant Account. FinTechMerchantAccounts can provide you with both international and domestic CBD merchant account choices to fit your requirements. We utilize a variety of processing techniques to ensure that your CBD merchant processing is a smooth and simple process. Enjoy faster funding, as soon as same-day. The exact process varies from one merchant processor to the next. S. 3. Table of Contents About cbd merchant processing shopify CBD Friendly Payment Processors (High Risk Payment Processing providers). Host Merchant Services is a Newark, Delaware-based merchant account provider that may be a great fit for a hemp business. Georginix is a big supplier with fast response times and valuable advice, but website compatibility with Shipstation and pre-approved CBD merchant processor are required. Instead, PaymentCloud partners with numerous banks and processors to maximize your odds for initial approval and ongoing account stability. 1 Best CBD Merchant Account Providers in 2021. Once you receive approval for a CBD merchant account, your payment processor will send you any POS hardware and integrate it with all your existing software to get you up and running. Note Code 06 is currently unused but is reserved for future use. It’s not a stretch to say a lack of CBD payment acceptance capabilities leaves many businesses dead in the water. First and foremost, you need a processor that securely handles high-risk merchant transactions. To get a merchant account, one must submit an application with a merchant account provider. Also, you need a high-risk payment processor for your merchant account because high volume sales and e-commerce only increase the risk. 4. What you need to know: The payment industry has been slow to adopt the CBD vertical, but the landscape is changing rapidly. PaymentCloud. PaymentCloud Top Rated for Kratom Credit Card Processing. 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. (Even low-risk businesses can wait up to 1-2 business days for approval. You must have minimum weekly sales of at least $1,500 and a short of selling CBD. Therefore, alternative payment processors such as. Fill Out an Online Form. But if our online merchant account application will still raise too many questions, your dedicated high-risk merchant services expert will walk you. com. Rates begin at 2. We provide Smoke Shop Merchant Accounts credit card processing with Free POS and 2. No contract terms. Any merchant account that accepts debit or credit card payments must comply with PCI mandates. Compatible with major shopping carts: WooCommerce, Shopify, Magento, Ecwid, etc. Getting your application for a CBD merchant account instantly approved means you’ll have the ability to process payments immediately. The firm has an extremely high approval record for merchant accounts and, unlike other high-risk suppliers, does not charge an application. Click or ☎ call (855) 339-6004 for more information today! Call Us On: 855-339-6004 | Follow Us On: Home; About us; Our Services. CBD businesses may be subject to unavoidable high-risk merchant account fees. As you can imagine, there are hundreds of different merchant category codes. Keep in mind that the requirements for a CBD merchant account vary depending on the processor. Generally, the approval timeline for a CBD merchant account with QuadraPay is as follows:A CBD merchant account is a merchant account that’s been specifically approved for use in selling some or all types of CBD products. 840. Remember that Stripe’s instant approval doesn’t mean your current payment processing account will last. Credit Cards; Online. 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. Host Merchant Services: Best for Interchange-Plus Pricing. Only a few merchant processors approve merchant accounts for CBD businesses. This is a major concern for CBD merchants when processing credit card transactions for CBD purchases. In fact, we pride ourselves on a fast turnaround time—most approved. However, Shopify currently only supports the hemp and CBD market in the US (maybe Canada), so for now, you can only have a Shopify CBD business in this market. 2% and $. S. Card on file transactions. Get the best high risk merchant account for your industry. High risk merchants who choose to process with instant approval companies may have their account shut down which can lead to lost revenue. These are NOT the cannabis plants grown for marijuana and hashish. CBD businesses may be subject to unavoidable high-risk merchant account fees. PA is currently available only in the United States. Signing up with the best CBD merchant processing company from day one saves you the time and frustration of getting shut down by. Best for Cannabis & Hemp Payment Processing: Canna Group LLC. S. Online payments, by their very nature, are considered high-risk transactions compared to in-person tap, chip or pin credit card payments. Limelight is regarded as one of the best tools for CBD transactions. Farm Bill, its association with the cannabis industry at large causes it to be seen as high risk in the eyes of conventional payment processors. Payment processing, and in particular credit and debit card processing, can be challenging for CBD, headshop, and dispensary business owners. About Us; Services. Shift Processing can get approval for our high risk merchant accounts in as little as 48 - 72 hours. The Merchant Category Code is a four-digit number used to identify the business category of a merchant. Be charged higher pricing for credit card processing. Merchant service providers that are willing to take on CBD accounts can be hard to find. (As as long as it doesn't contain more than 0. Call us today! We use cookies to ensure that we give you the best experience on our website. Epidiolex does not contain any THC. We are high-risk experts with over a decade of experience providing successful solutions. She said that two other companies approved her business, but the rates were either “outrageous” or getting them set up could take at least three. ACH Payment Processing; Chargeback Prevention Tips;. Any cannabis products that are higher than the FDA-approved percentage are not eligible for CBD merchant processing. PaymentCloud’s bread and butter are finding payment processors for high-risk merchants, so it’s an easy choice for CBD. Our highly trained staff is here to answer all your questions about CBD merchant account, pricing, contracts, and other services. 9% + 30 cents for cards or 1% with a minimum $1 per transaction for ACH bank transfers (invoices only), and 3. Here are brief overviews of the seven best merchant account providers in the industry that accept CBD merchants: 1. based companies shouldn’t be treated like offshore merchants. com. The best rates for CBD credit card processing in the USA and Canada. com is one of the leading High Risk Merchant Account providers of credit card processing & payment gateways to businesses with bad credit. For DigiPay, you must provide test results from an independent lab that demonstrate your CBD products don’t contain more than the 0. They are handling the business transactions of many reputed CBD companies. 95% + $0. Square CBD Fees, Rates & Pricing. How to receive payments for CBD products. 3. Lightfire Merchant Services is a Premium Merchant Services Provider specializing in servicing those within the E-Cigarette/Vape/CBD industry. Get Approved & Start Processing with Peace of Mind. Delivery is allowed as dictated by local and state laws. Shopify. Boasting competitive chip, dip and swipe rates, PaymentCloud utilizes third-party processors and collaborates with banking institutions throughout the U. BigCommerce CBD Limitations. 1. To get a Shopify CBD merchant account, you’ll have to go through a three-step process: CBD Merchant Account Application Process. 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. 4. Note Code 06 is currently unused but is reserved for future use. We treat it just like any other American-based business. When you apply for a CBD merchant account from PaymentCloud, you’ll get approved. They provide offshore merchant accounts in addition to high-risk merchant accounts, which are their areas of expertise. S. Securely set up your system following Payment Card Industry Data Security Standards (PCI-DSS) guidelines. Twitter Facebook-f. You can only send notifications related to CBD products and shops by email. If a product has. 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. Instabill also requires a six-month rolling reserve from each merchant. 25 for each transaction, and a $10 monthly gateway fee is further charged. Merchants with recurring annual or monthly fees. 27702 Crown Valley Pkwy Suite D4-120, Ladera Ranch California 92694, USA. August. In-person/Store Purchase: 3. Immersed in Knowledge and Focused on Your. G. Subscription-based companies that. Here are the best marijuana payment processing companies & the truth about credit cards. Get fast account approval. If you meet all of these requirements you are ready to. PaymentCloud is also one of the top rated merchant services providers in the credit card processing. Banks underwrite and. One big challenge for new CBD website owners can be the ability to accept credit cards. Banks underwrite and. Like most high-risk merchant account providers, PaymentCloud is not a direct processor. Working with the CBD Processing was a good getting approved for a merchant account is so time consuming, these guys made it less. A disclaimer page to help your store’s aesthetic and, of course, pass information and warnings to customers. CBD Merchant Credit Card Processors. As of 2021, eligible small-business owners using Square can get. First, we’d talk about why CBD for sale needs high-risk merchant services. These accounts are typically offered by specialized payment processors that specialize in working with high-risk businesses. Accessed March 1, 2023. Merchants with businesses that require high risk credit card. This will often mean going through and contacting various high-risk payment processors. At Paybotic, we keep detailed sales records and will help you remain compliant by completing audits and. Lack Of FDA Approval. Luckily, there are payment processors like PayKings that specialize in providing high risk merchant accounts for CBD businesses. You can fill out an online form detailing information about your business and CBD products. Highest reviewed credit card processor. A New York-based investment bank by the name of Cowen & Co. In addition, many marketing platforms prohibit you from. Our payment processing services offer fraud protection to secure your account and your cardholder’s data. CBD Merchant Service was established to provide real payment processing solutions for real businesses involved in selling CBD and hemp products. Here are the general requirements that we will be looking for. No application, annual, or set up fees. Moonlight Payments is our recommended choice for CBD merchant account services, with its industry-focused features, integrated solutions, and commitment to legal compliance within the CBD sector. Our offerings include a reliable, affordable, and safe credit card processing along with ACH. If you’re serious about growing your CBD vapor business and establishing a lasting payment processing solution, contact us today. Many merchant accounts for CBD, in fact, will drop a CBD account after having it as an account for months on end. These banks often require a reserve. Purchasing CBD online or in-person for that matter is generally considered an even higher risk proposition even. With Limelight, it enables users to increase the approval rate of credit cards and track their orders as well as control returns. HighRiskPay. 5% + 15 cents when you manually key in a transaction. Our processing techniques and account features exist to ensure that merchants selling delta-8 THC and other cannabis products face minimal risks when it comes to processing credit or debit card payments. However, acquiring banks and other financial institutions classify CBD products as high risk. We make setting up a CBD merchant account a quick, hassle-free process. 30/transaction. They also cater to high-risk businesses like vape and CBD companies. The CBD processor HighRiskPay. Be prepared for tiered pricing; higher statement. Three months of processing statements. A CBD retail merchant account is an account that allows you to accept credit card payments made for CBD products. The higher your credit score is, the greater your chances of approval. Discover how to reap the benefits and access the key component for processing CBD payments. Here their processing company will collect the necessary information. Defend your business against uncharted fraudulent activity and chargebacks. 1. High Risk Merchant Account Instant Approval;When you have a great new idea for a business or are ready to grow a small business, TailoredPay is here to help you process credit card payments easily, safely, and affordably. These processors have special agreements with banks and credit card companies that allow them to process these types of transactions. Bankcard is a CBD payment processor that provides CBD merchants with premium high-risk merchant services. 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 a blog post dated June 17, Thrive Market CEO Nick Green said: “In early June, we received a notice from our merchant processor demanding that we cease the sale of all hemp and CBD products on. Though selling CBD oil is legal in all fifty states, banks and merchant processors consider our business “high-risk” and getting approved for a merchant account will likely be difficult. The landscape is changing every day in the processing world. CONTACT INFO (800) 956-1277. Once you receive approval for a CBD merchant account, your payment processor will send your processing hardware and equipment and get you integrated. 2110) allows grower/processors to obtain hemp only from a person holding a permit issued by the Department of Agriculture to grow hemp. This helps the bank decide just how much financial risk is associated with your business. GET STARTED. M. 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. Even CBD, which was descheduled under the 2018 Farm Bill, has had its difficulty securing merchant. Trustpilot. Working with a reliable processor makes both you and your customer feel safe. One of the main roles of merchant account providers is to assume most of the risk involved in processing credit card payments online.