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Individuals who are concerned about the use of CO2 or hydrocarbon solvents in the extraction processes will be glad to know that 4 Corners Cannabis uses a sugarcane extraction method. Both companies were quick to shut down the accounts of any merchant they caught trying this method. They are also working to give back to communities and educate the public about the benefits of CBD. I have them bookmarked and will hopefully find one in this list. Penguin is all about creating a well-informed and supportive online retail space that offers lots of in-depth information and consumer education about CBD. PayPal will technically approve CBD sales.

First, it is important to understand exactly what recovery means. For further information please refer to our full terms and conditions HERE. Because of this, they assess the level of risk involved with different types of business, and treat them accordingly. Even if you find a processor willing to take on a CBD business, odds are that their fees are very expensive. At Shift Processing, we are very transparent about our fees and offer no termination fees should you choose to end your contract with us. Speak to our experts in relation to your requirements to find the most suitable cannabis payment solution for your business needs. PayKings steps in as the reputable and knowledgeable payment processing company for your CBD Oil merchant account.

As a newly established business, SMB Global is still a little rough around the edges, lacking a mobile processing system and credit card terminals for retail merchants. The difference is that cannabis grows with more than 0. PayKings is a high risk merchant account provider that is trusted and proven to process transactions for your high risk business. CBD is often considered the opposite of THC, as it restores the body back to homeostasis and sobers the mind. For one thing, an Elavon merchant got caught selling products labeled as CBD that contained more than 0.

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Especially ones that are based in the UK. The company will occasionally waive this requirement if your business has a very strong financial history. As a result, many payment processors will be reluctant to work with CBD companies. We recommend that you look into the laws of your state and consult with an attorney or qualified consultant to determine the specific requirements that apply to your business. When the business model is deemed high risk after initial approval — which is always the case with CBD oil merchant accounts — you can expect the account to be closed. This leading payment gateway service provider is PCI-certified. Sign up for the Maverick Newsletter.
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At the same time, you need to be aware that Square does have its limitations. Processing rates, account fees, and contract terms will all vary widely depending on which back-end processor is handling your account. Their oil is grown and extracted under a set of strict guidelines issued by the Kentucky Department of Agricultural Industrial Hemp Pilot Program. Especially online. Ready to apply?
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Signing up with the best CBD merchant processing company from day one saves you the time and frustration of getting shut down by payment processing companies like PayPal, Stripe, or Square. BigCommerce knows how to handle high-risk businesses, such as those associated with the CBD industry. With little or no peer-reviewed research currently available to evaluate the benefits of CBD use, the flood gates have been opened for businesses to tout CBD as a potential cure for… well, just about anything. At the same time, FDA studies that fail to back up the numerous health claims made by CBD proponents could doom the industry altogether. All you have to do is procure some CBD oil, design the perfect label gradient, toss it up on a Shopify storefront, and buy a few Instagram ads. Not every payment processor will require you to sign a contract that is binding in order to do business.
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Personalized customer service is the way to go, but if you cannot find a company that offers this, at least find one that hires a customer service team to manage calls and emails around the clock. Show more. This is because of a couple different factors. This program proved to be highly successful, and today Square advertises it on their website. Read More An actual payment processor that has experience in high risk and CBD merchant processing and CBD payment processing in particular will be more beneficial to a CBD business looking to accept credit card payments. Providing you meet both industry and account provider standards our advisors can help. Now that Square is an option for low-volume CBD merchants, we feel that this is a great opportunity for businesses that up until now have had to operate on a cash-only basis.
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Each company has a slightly different way of putting it. Low Monthly fees. Headquartered in Durango, Colorado, the company works with a wide variety of banks and backend processors to bring full-service merchant accounts to high-risk businesses that might otherwise not be able to obtain them. We already have an account setup with authorize. CBD Testing.
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