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merchant account for cbd company

Merchant account for cbd company

If you are still in the early stages of building your online CBD store, then you’ve come to the right place. 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. When you establish a payment processing solution through PayKings, you avoid any funds being frozen. Your stream of income then remains steady and reliable. If you are looking for CBD merchant processing that can offer you competitive solutions and rates, PayKings is your ideal choice.

Alternatively, getting a high risk CBD merchant account does not mean you’re out of luck when it comes to credit card processing. PayKings is an expert at finding the best way to expand your market to deliver your CBD services and products. PayKings is committed to finding the proper CBD credit card processing solutions you need to dominate the online presence. We offer completely customizable CBD merchant processing options to solve your business needs. Moreover, PayKings makes it easy to obtain a CBD oil merchant account in as little as 48 hours.

Disclaimer: Paykings does not directly underwrite or approve CBD merchant accounts. We facilitate via a CBD payment processor to connect CBD merchants selling CBD related products to an approving CBD Merchant account acquiring bank.

How Can PayKings Help With My CBD Merchant Processing?

Look no further than PayKings, the leading experts in getting your CBD merchant account ready to accept payments.

*Rates are quoted as % above card brands interchange costs, dues, fees, and assessments.

High Risk Merchant Account CBD

Aggregate companies such as PayPal, Stripe, or Square can’t get you the CBD merchant processing you need. Often times, these companies lure in CBD merchants with appealing “instant approval” offers. But weeks later, once the underwriting process has taken place and high risk CBD products are discovered, the road comes to an end. Once these companies are made aware that you are selling CBD on Shopify or on another ecommerce site, PayPal, Stripe, or Square, will freeze and shut down your account. These top payment processors often utilize this risk monitoring system by scanning all merchant accounts, evaluating processing history and seeing which qualify. 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.

If you need CBD credit card processing, you’ll want to make sure you meet the proper regulations. CBD merchants who sell hemp-derived CBD products at less than 0.3 percent THC can apply for a CBD merchant account with PayKings. At the moment, we cannot provide a credit card merchant processing account for any cannabis products containing cannabidiol, cannabinoid, tetra-hydrol-cannabinol (THC) in excess of the allowed percentage.

Merchant account for cbd company

Since we a lot of questions regarding Stripe CBD sales and Stripe CBD payments, we’ll explain their policy. For trying to obtain a CBD merchant account, Stripe really isn’t an option for your business.

Processing CBD sales through PayPal is a huge risk. If they decide that you are too high risk for them, they have the right to, without warning, shut down your merchant account. The lack of warning provided to you means that you won’t have time to find another processor before they decide to shut you down. You’ll have to rely only on cash purchases until you’re able to find a processor that is willing to partner with high risk businesses.

Stripe restricts CBD based businesses from accepting payments on their services. In fact, Stripe restricts any highrisk business in any industry, from the hemp oil and CBD oil industry to the gambling industry, from using their services. So while the product might be completely legal in your region, Stripe prefers to not take on that risk and will deny any CBD based businesses from using their services.

Earning the trust of your business and satisfying your need for a credit card payment processor, just like the other CBD businesses, is our number one priority.

Low Monthly fees

You regret to inform them that your business does not accept credit cards . The customer, without any cash on them, then has to put the product back and walks out of the store, not likely to return. They’ll find somewhere else, like a gas station, that accepts credit cards to fulfill their CBD needs. They prefer to pay with card, rather than going to an ATM to get a cash advance.

We’ve worked with both online and brick and mortar CBD businesses, and continue to do so because they trust us to process their payments at low rates and not cancel the merchant account.

Think about the necessity of accepting credit cards this way: Each customer that you have to turn away because of your inability to accept credit card payments is a purchase lost. But, how many sales are you actually turning down in the long run?

Why Shift is Good for CBD Businesses

Does Stripe accept CBD payments? Does Stripe allow CDB sales?

We understand that every business is different, and listen to each business owner to fully understand the best solution for your needs. This isn’t a cookie cutter business, and getting the right merchant account services for CBD can set you up for success for years to come.