Posted on

first direct financial cbd

First direct financial cbd

We can also setup a CBD Bank Account for you as needed.

Easy Pay Direct has been committed to providing the most stable merchant accounts for e-Commerce stores selling CBD products, whether in the US or Canada.

Easy Pay Direct has focused on Cannabis business since 2010

With the rise of medical legalization, recreational legalization and also CBD adoption, the banking and credit card processing climate around cannabis has been volatile to say the least.

Those options have been expensive, unreliable and ultimately resulted in a huge expenditure of time and money for CBD entrepreneurs who used those options. FINALLY, we have the first 100% above board, legal CBD merchant accounts in the US & Canada. You can process credit cards for your CBD business without issue.

First direct financial cbd

Cannabidiol (or CBD) is a substance (or phytocannabinoid, to be more precise) that’s derived from hemp (Cannabis sativa) plants. Now, you’re probably already aware that marijuana also derives from Cannabis plants. The major difference between CBD products and marijuana is that the former contain little or no THC (tetrahydrocannabinol) or any of the other psychoactive ingredients that marijuana contains. In other words, CBD products won’t get you “high.” Despite this rather obvious distinction, CBD-based products had been illegal under federal law until just a few years ago. While that’s no longer the case, CBD laws today vary widely from one state to the next.

What Is A CBD Merchant Account?

Visa-owned Authorize.Net doesn’t like to talk about CBD, but the truth is that you can process CBD sales over the Authorize.Net gateway. In addition to other legal requirements, you’ll have to be using a merchant services provider that has approved your business for CBD sales. This shouldn’t be a problem, as PaymentCloud and many other CBD merchant account providers use Authorize.Net as their primary gateway option. Note that if you’ve signed up for payment processing services directly through Authorize.Net, you probably won’t be able to use that account for selling CBD products.

Authorize.Net CBD Policy

Passage of the 2018 Farm Bill was supposed to open the floodgates for the CBD industry, making it much easier for CBD merchants to obtain merchant accounts and accept credit cards just like any other business. For a time, it seemed that this would actually happen. Elavon began accepting CBD merchant accounts but suddenly shut them down just a few months later due to quality control issues with the product. If merchants don’t take adequate steps to ensure that their products contain less than 0.3% THC (as happened here), they could easily put themselves in legal jeopardy for selling a controlled substance.