approved cbd merchant processor. However, constraints usually come from the. approved cbd merchant processor

 
 However, constraints usually come from theapproved cbd merchant processor  8

Merchants using Shopify Plus can contact the Merchant Success team for guidance and dedicated support in completing the steps required to sell hemp or hemp-derived CBD products on Shopify. Accept payments for CBD products with a CBD payment gateway → 100% approval rate Expert risk management 24/7 support - Grow your business. These processors have special agreements with banks and credit card companies that allow them to process these types of transactions. Advanced chargeback protection programs. 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. As a result, many banks, payment gateways, and payment processing companies categorize CBD sales as high-risk transactions and don’t support them. This provider specializes in hard-to-approve business types and can currently supply kratom merchant accounts, Hemp merchant accounts, and even CBD merchant accounts. Whether it is an oil, gummy, lotion, or even suppository, cannabidiol, also known as CBD, has quickly become one of the most popular health and wellness products on the market. 420. With easy integration, our top-of-the-line products give you more flexibility to accept payment for CBD and Delta 8 however and whenever you like. The payment industry has been slow to adopt the CBD vertical, but the landscape is changing rapidly. As a result, high risk businesses such as online CBD shops have a more difficult time obtaining merchant accounts. 0. Tap, dip, or swipe transactions. 5. 1. Trust us, that’s fast for a high risk credit card processor. However, you’ll run a lower risk of account freezes and holds. 2. Any high-risk merchant that chooses a traditional payment processor is bound to hit a snag at some point. We have done this by creating an industry-specific and professionally tailored merchant account for CBD businesses. Square’s pricing is always transparent. 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. Best CBD Merchant Account Provider: Moonlight Payments. Some processors even provide their customers with debit card and credit card acceptance, security solutions, PCI compliance assistance , and value-added 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. net as a bridge to connect them to your Miva store: First Data. S. Moonlight Payments is our recommended choice for CBD merchant account services, with its industry-focused features, integrated solutions, and commitment to legal. Published on January 13, 2020. Note Code 06 is currently unused but is reserved for future use. [2] CMS-Connected. Remember that Stripe’s instant approval doesn’t mean your current payment processing account will last. Shopify leaves this verification up to you, so it’s always important to do your homework. With easy integration, our top-of-the-line products give you more flexibility to accept payment for CBD and Delta 8 however and whenever you like. Why CBD Merchant Processing Is Difficult to Find ; Best CBD Merchant Processors . Vape, Glass, CBD and Kratom Approved. These. Instabill. Today, most merchants with CBD stores can use their credit card machines for various transactions, including card-not-present. CBD Merchant Account; Continuity Subscription Merchant Account;. 3. Or, call us at 877. Get Pre-Approved. Summary: Although CBD was completely legalized in 2018 with the U. In fact, most CBD merchants on Shopify. First, your business must find a CBD merchant account provider. Our offerings include a reliable, affordable, and safe credit card processing along with ACH. 9% and $. 4. Its free virtual terminal allows business owners to track CBD sales easily. 3. 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. 7. 75% rate comparable to a low-risk merchant account. If you’re a “hard-to-place” merchant, like a medical marijuana dispensary or hemp oil manufacturer, you likely face difficulty. Securely set up your system following Payment Card Industry Data Security Standards (PCI-DSS) guidelines. If the sponsor bank has a low-risk tolerance, chances are the payment processor won’t. High Risk Pay offers high-risk merchant accounts and payment gateway solutions to businesses from all verticals. #1 PaymentCloud Top Pick for Hemp Merchant Accounts. 3. Banks underwrite and. However, you must check with state and local CBD laws to make sure that you are selling it legally. And rates 50% lower than most other companies offer. With online CBD sales, the processor frequently scans the website for products not approved on the merchant application. 2795 Openly Accepting Hemp and CBD Industry Merchants with Domestic and International Solutions Available to Fit Your Needs Learn More Get Approved with Low. 03%. Adept Payments offers payment processing, merchant services, and business solutions to all industries. Purchasing CBD online or in-person for that matter is generally considered an even higher risk proposition even. Furthermore, their representatives know the most painless ways to assist in opening your merchant account so you can begin. High Risk Payment Gateways. However, these fees are dependent on the risk level of your business. Start accepting credit card payments. If you're selling CBD or hemp products: Humboldt is now offering safe and secure payment options for your industry that include reliable and affordable credit card processing!Thorough merchant account approval process . This includes B2B and. Also, EMB’s payment gateway is now fully integrated with Shopify to support CBD payment processing. In addition to higher processing rates, CBD merchants may all see increased chargeback fees, PCI compliance fees, early termination fees, and even merchant account reserve withholdings. FDA approved certificate Your CBD product business plan (not mandatory but important). Three months of processing statements. 7. Be charged higher pricing for credit card processing. High Risk Merchant Account Specialists - From small businesses to Fortune 500 enterprises, organizations nationwide have trusted us to handle their high risk merchant accounts. CBD merchant processing has been a revolving door of bank solutions that first say. A CBD merchant account and payment processor. A CBD merchant has still one more hurdle. Bank statements will likely be requested (again, prepare at least three to six months’ worth). CBD businesses can get approved in as fast as one day. 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. But getting approval from these third party merchants isn’t as easy as signing up. At Corepay, we specialize in high-risk processing, with. Kratom merchant accounts is an all-in-one solution to accept, process payments online or in your mobile app — from small business to large wholesalers and distributors. Electronic checks also process quickly. com is one of the leading High Risk Merchant Account providers of credit card processing & payment gateways to businesses with bad credit. For example, CBD was not legal until 2018 and is extremely regulated due to its similarity to THC. Individuals interested in selling merchant services will want to become an Independent Sales Organization, otherwise known as an ISO. The purchase of HighriskPay by Unsafe shows that the CBD market is gaining popularity. 6. As a trusted CBD payment processor, we get merchant accounts for cbd and hemp products approved quickly. 30; In-Person: 3. com. You must have minimum weekly sales of at least $1,500 and a short of selling CBD. DigiPay is fully integrated with. Best for Cannabis & Hemp Payment Processing: Canna Group LLC. Keep in mind that Shopify has only opened this up for US-based. Immersed in Knowledge and Focused on Your. Call us: 1(877) 441-6801. I. All payments processed while participating in the CBD Program, including non-CBD items, will have the following costs: Payment Method. CDGcommerce: Best For eCommerce Startups. it would be challenging to continue processing CBD-related transactions without the company’s knowledge. 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. To help you on this journey, we've compiled a list of seven qualities you should look for in a payment processing partner for a CBD merchant account. published a study on the Cannabidiol (CBD) market. Cannabis Diverse. Products Approved: Hemp-Derived Flower, CBD Oils & Tinctures (Human), CBD Oils & Tinctures (Pets), CBD Topical. Shopify currently recommends two CBD payment processors - DigiPay and Sezzle. When you apply for a CBD merchant account from PaymentCloud, you’ll get approved. PayKings – The best choice for businesses looking for interchange-plus pricing and eCommerce shops ( Shopify). Plus, you’ll never be charged a setup fee or application fee. This is a massive leap from the estimated retail sales of CBD-related consumer products back in… Read More »CBD. Stellar Financial Track Record. The loan amount can be as high as $250,000 and as low as $300. 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. Soar Payments: Best for. There were many issues with. ACH/Check 21 processing. The best rates for CBD credit card processing in the USA and Canada. CBD merchants who sell hemp-derived CBD products at less than 0. One such third-party payment provider that supports CBD payment processing on Shopify is DigiPay. com. Now CBD is categorized as a high risk company regardless of what kind of CBD products you bring in your online store. Be denied services. Square Payments. Each industry has valuable tips on how to minimize the risks associated with their online payment process. This includes processing for hemp wholesale, distributors, sellers of hemp-derived products, or other. 3% THC concentration as allowed by Federal Law. You partner with a CBD-friendly payment processor and merchant account; That all may sound like a lot, but it’s rather easy to get CBD-friendly payment processing and merchant accounts if you’re in. A disclaimer page to help your store’s aesthetic and, of course, pass information and warnings to customers. CBD, or cannabidiol, is an element of the cannabis plant that does not get you high like THC. Signed merchant application. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant. 1. based companies shouldn’t be treated like offshore merchants. To sum it up, here are the 4 best Cbd merchant service providers: National processing – Best for businesses that want low fees and those that have Clover terminals. Choose the right system to meet your needs. Trustpilot. PayKings focuses on customizing your banking solution and making sure you have the lowest rates possible. Our team of experts specializes in high risk merchant accounts, such as CBD oil merchant accounts. PayDiverse offers CBD payment processing at the lowest industry rates & has multiple banks that accept CBD merchant accounts. This will often mean going through and contacting various high-risk payment processors. CBD merchants who sell CBD and hemp products need a CBD merchant account. Shopify’s payment processor doesn’t support CBD stores. Here are five other considerations for selecting a payment solutions provider for your CBD business: 1. The only FDA-approved drug that includes CBD is Epidiolex. (800) 956-1277. These are NOT the cannabis plants grown for marijuana and hashish. Therefore, alternative payment processors such as. Low Rates. Georginix charges a $625 fee to join their program and requires a pre-approved CBD merchant processor. Merchant accounts are generally established under an agreement between a merchant and an accepting merchant getting bank for the settlement of credit or debit card transactions on their. No application, annual, or set up fees. 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. Give us a call at (800) 993-6300 or fill out the contact form below to get your CBD merchant account approval process started. Square: Best For New Startups. We provide Smoke Shop Merchant Accounts credit card processing with Free POS and 2. 98% Approval Rating. In need of a merchant credit card processor for my online ecommerce store where we sell Full Spectrum Hemp Extracted Cannabinoids: (CBD, CBG, CBDA). To sell CBD products, however, most merchants will need a high-risk CBD merchant account and an acceptable CBD payment gateway. ECS’s services and solutions include: Credit card processing. But if our online merchant account application will still raise too many questions, your dedicated high-risk merchant services expert will walk you. The types of businesses approved for merchant services can vary between the different merchant-acquiring banks. 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. It provides hardware and software. Fees. Applications take an average of 15 days for approval. Helping CBD merchants get approved quickly with competitive rates. Users also rave about eMerchant Broker’s onboarding experts and 24/7 customer support staff. 2) Chargebacks: Chargebacks are the bane of many merchants. Merchants with recurring annual or monthly fees. A CBD merchant account is a dedicated CBD retail processing account and a CBD eCommerce account that allows merchants selling CBD and Delta-related products to accept debit and credit card payments. 3% CBD Approval Rate. Shopify allows payment processing directly through their platform for various industries, but for CBD, merchants must look elsewhere. 2. 10. Finding the best Shopify CBD Payment Processor for you as a CBD merchant processing Shopify company is very crucial. So, on March 14, nearly all CBD brands began scrambling for a new solution before losing. 2 Best for External CBD Products: PaymentCloud. They provide offshore merchant accounts in addition to high-risk merchant accounts, which are their areas of expertise. Here are two solutions available to merchants today on Big Commerce through. Elevated Processing offers: High Approval Rates: We have established relationships with banks that are familiar with and open to the CBD and hemp industry, ensuring higher approval rates for merchant accounts. Online the rate is 2. The higher your credit score is, the greater your chances of approval. The explanation for CBD Merchant Processing Optimus Merchant Solutions is a CBD payment processor that gives CBD merchants a surcharge on high-risk merchant…New York state is requiring that licensed manufacturers and processors comply with current federal GMP regulations — 21 CFR Part 111 (for dietary supplements), or 21 CFR Part 117 (for foods) — established by FDA. Merchants can begin processing in less than 1. If you’re a “hard-to-place” merchant, like a medical marijuana dispensary or hemp oil manufacturer, you likely face difficulty. This solution is designed for those that have a brick and mortar storefront, e-commerce or offer curbside pick-up. These banks often require a reserve. Luckily, there are payment processors like PayKings that specialize in providing high risk merchant accounts for CBD businesses. If you want to start a Cbd business, one of the first problems you will encounter is payment processors and merchant accounts. CBD is considered a banned substance for Shopify Pay , but you can sell it through a Shopify store using high risk payment processors. Unlike other types of merchant accounts, CBD merchants must undergo heightened due diligence. You must have a pre-approved CBD merchant processor to partner with this CBD dropshipping supplier You must place and pay for your first order when joining To join the Joy Organics Partners Fulfillment Program, they charge your credit card $625. 30/transaction. As you can see, a Stripe CBD merchant account is not specifically on this list. Open a Merchant Account. 1 Best CBD Merchant Account Providers in 2021. Charlotte's Web provides a dropshipping program with a wide range of products,. PayKings steps in as the reputable and knowledgeable payment processing company for your CBD Oil merchant account. The best CBD payment processor helps you get approved fast for your CBD merchant account. Merchant Services for ALL business sizes and types. If you continue to. Once you apply for and receive approval for a CBD oil merchant account, you will then be able to fully utilize the payment processing portal. Opening a Bankcard International CBD merchant. Apply today and get a quick approval! Tags: CBD Payment Processing. A CBD merchant account and payment processor. . Accepts start-up businesses. This entails filling out a general form, then adding details to a more thorough merchant application. Due to the CBD industry’s high-risk classification, traditional financial services typically avoid partnering with those in this sector. If you’re serious about growing your CBD vapor business and establishing a lasting payment processing solution, contact us today. 5% + 15 cents when you manually key in a transaction. Another mind-blowing statistic is that over 26,400 partners referred a merchant to Shopify in one year. Credit card payments are deposited through ACH directly into the account. The analysts estimated that the revenue of the market is projected to reach $16 billion by the year 2025. This entails filling out the general form, then adding details in a more thorough merchant application. Payment gateways and merchant accounts are generally not CBD friendly, even. The best CBD payment processor helps you get approved fast for your CBD merchant account. Merchant accounts and payment gateways that allow CBD and Hemp Oil to be sold through their networks. In-person/Store Purchase: 3. business checking account is one of the requirements to open a high-risk merchant account. This is a major concern for CBD merchants when processing credit card transactions for CBD purchases. Auto transport merchant account and consulting services. If you are selling CBD products online, you need a payment processor that is familiar with the industry and knows how to work with you. What you need to know: The payment industry has been slow to adopt the CBD vertical, but the landscape is changing rapidly. They might take you on at first. No contract terms. Merchant Funding. com. Moreover, they share all of the details and legal regulations around payment processing in. To be issued a merchant account, you must show three to six calendar months of processing history. You must have minimum weekly sales of at least $1,500 and a short of selling CBD. 6% + 10 cents for every tap, dip, or card swipe that happens in person. CBD businesses may be subject to unavoidable high-risk merchant account fees. With Limelight, it enables users to increase the approval rate of credit cards and track their orders as well as control returns. Stripe's review upon account activation ultimately determines whether a business is supportable. 2. Segpay CBD merchant processing is available for hemp-derived products with a 0. Once you have all the requirements, you can fill out an application for a CBD merchant account. Pinpoint Payments values your business and helps protect it: Industry-leading fraud prevention Real-time chargeback management “High-risk” merchant accounts . This happened because the DEA in 2017 listed kratom as a “Drug of Concern” and most financial services companies cut ties with these businesses. You will need to integrate a third-party CBD merchant account into your online store. In order to accept credit card payments for CBD, you must open a merchant account. Furthermore, their representatives know the most painless ways to assist in opening your merchant account so you can begin processing payments as. Read Also Is Shopify Still Profitable for eCommerce. Have you heard about a CBD store available in your area? CBD is used to address anxiety and for patients suffering from the misery of insomnia. The exact process varies from one merchant processor to the next. If you’re serious about taking your CBD business to the next level and establishing a payment processing solution that will last as long as you do, contact us today. As of the writing of this post, PaymentCloud is currently approving hemp merchant accounts, kratom merchant accounts, and CBD merchant accounts for credit card. (877) 441-6801. 1. Instabill offers merchant accounts for e-commerce CBD sellers only. Get the best high risk merchant account for your industry. EPP Merchant: Applicable Tenure: Onetime Processing fee: Jumbo Electronics: 3, 6, 12, 24 months: 1. American Express may require separate approval. 1. merchant solution. But proponents claim it can have significant health benefits. 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. 24/7/365 knowledgeable customer support. Tap, dip, or swipe transactions. How to receive payments for CBD products. Begin accepting credit and debit cards for CBD products today by filling out EMB’s simple online application. Be Honest About Your Business Model Finding a high-risk merchant service provider is a rewarding feeling but it is only the initial step in securing approval. The Importance of Partnering with a Seasoned CBD Payment Processor With greater acceptance of CBD products in the marketplace, they’ve been able to get thousands of CBD payment gateways approved. The merchant must grant the processor access to scan their POS system intermittently, and usually once a month, to ensure no unapproved products have been added to the merchant offerings. Make Merchant Account Approval Easier If you want to move forward with a CBD oil merchant account , there are steps you can to improve your chances of approval. Accessed March 1, 2023. Once a CBD or Hemp company is approved, payment processors set monthly processing limits for new businesses, typically between $25,000 and $50,000 per month, for the first three-to-six-months. 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. 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. 3 Best for Fast Approval Process: PayKings. One of the main roles of merchant account providers is to assume most of the risk involved in processing credit card payments online. There are also laws in which these products cannot contain more than . net account. Reach out to a Payments Advisor at 1-877-843-5690 or. SMB Global: Best for international merchants. While the industry standard for high-risk payment processing is four days from the date of the transaction to the time of the deposit, electronic funds transfer processed by High Risk Pay will typically reach your account in 24–48 hours. They might take you on at. Cova Software:. . Since its founding in 1997, High Risk Pay has become one of the industry’s firms with the most rapid expansion. If a product has been added that has a higher THC level greater than . CBD Merchant Account; Continuity Subscription Merchant Account;. FINALLY, we have the first 100% above board, legal CBD merchant accounts in the US & Canada. We expect this to continue until the banking and financial industries are able to adjust and catch up to the new laws around CBD products. So, whether you specialize in CBD oils, gummies, lotions, or any other product, we will help you scale your business. Absolute Nature CBD is a highly recommended supplier with lab-tested, non-GMO products made in the US and no minimum order requirements. Complete Check Processing. Unlike most high-risk suppliers, it does not charge an application or account setup fee. Georginix is a big and responsive supplier with laboratory-tested products and integrated ship station fulfillment program, but requires a pre-approved CBD merchant processor and a $625. Once you receive approval for a CBD merchant account, your payment processor will send your processing hardware and equipment and get you integrated. Accelerate the growth and opportunity in your business. EMB offers CBD-friendly merchant accounts to businesses in nations all over the globe. Low Fees, That Stay Low. Merchant processing is a must for any CBD business. We treat it just like any other American-based business. This essentially put CBD merchants on “auto approval. Research necessary regulations. Welcome to the B. 996. 6. Our average approval time is less than 48 business hours!Rating: Excellent. If a product has. In 2019, Shopify began supporting the sale of hemp and hemp-derived cannabidiol products. Mon - Fri: 9:00 am - 5:00 pm; Apply Now. Fax: (818) 741-2252. 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. Transaction fee: 4. High risk merchants who choose to process with instant approval companies may have their account shut down which can lead to lost revenue. Considering the whopping figure, any merchant would want to take advantage of this profitable market. This marks a significant step towards financially managing your CBD business. For example, if you process $20,000 or more a month, or if you have an average transaction amount of $500 or more, you risk more opportunities for higher chargeback ratios. PayKings focuses on customizing your banking solution and making sure you have the lowest rates possible. S. Shopify’s payment processor doesn’t support CBD stores. 5% + 10¢. Vape, Glass, CBD and Kratom Approved. The first step to applying for a high-risk merchant account approval for CBD oil online payment processing is to find a credible account provider. Due to the higher-risk categorization, the CBD industry often uses alternative payment processors such as HighRiskPay. PaymentCloud. In Summary: The 8 Best Offshore Merchant Account Providers For Small Businesses. 7-14 day approvals, worry free merchant accounts, and hands-on customer support. With online CBD sales, the processor frequently scans the website for products not approved on the merchant application. This means merchants in the field can’t secure payment processing for CBD businesses easily. The best CBD payment processor helps you get approved fast for your CBD merchant account. 4% + 15¢. 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. CBD is thought to have an array of health benefits. Square’s CBD processing fees are below: Online: 3. As CBD merchants are considered high-risk businesses, many credit card processing providers and payments processors will not allow CBD merchant accounts. The higher your credit score is, the greater your chances of approval. CBD merchants of all sizes are welcome to apply. 3-5 business day approval process after your approved paperwork is complete and submitted. 85% and . With many ways to accept payments and create websites, it can become confusing for merchants to know the best practices. Also, you need a high-risk payment processor for your merchant account because high volume sales and e-commerce only increase the risk. 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. Getting your application for a CBD merchant account instantly approved means you’ll have the ability to process payments immediately. Absolute Nature CBD is a great supplier with lab-tested products, no minimum order requirements, and both dropshipping and white label programs. Who we are. Easy Pay Direct: Best For Transparent Pricing & A Domestic Merchant Account. Last September, Shopify made the announcement that all US-based merchants utilizing their platform will be allowed to sell hemp-derived CBD and CBD-type of products only where it’s permitted by state and local law. That means you need to apply and be approved for a merchant account under one of the following processing platforms. cannabis Industry - Startup Company Accepted. Adhering to these standards is challenging with a cash-only or self-managed payment processing strategy. Instabill offers merchant accounts for e-commerce CBD sellers only. Several factors influence a merchant’s risk level. PaymentCloud offers third-party gateway capabilities, integrations with retail terminals and online shopping carts, and staying up-to-date on changing legislation. 3-5 business day approval process after your approved paperwork is complete and submitted. The CBD processor HighRiskPay. Corepay offers the following for CBD merchants: Fast CBD account approvals with 24-72 hours. CBD Merchant Solutions are one of the few real companies. Table of Contents About cbd merchant processing shopify CBD Friendly Payment Processors (High Risk Payment Processing providers). merchant accounts), you’ll typically need to process $5K-$10K in monthly transactions to justify the cost. 5% + 10¢. Understand more about being in high risk verticals by researching payment review websites with key information. Your business needs a powerful and secure high risk payment gateway, chargeback prevention, dynamic currency conversion, and a suite of fraud prevention tools. PaymentCloud is a leader in providing high-risk merchant accounts to meet the needs of businesses across various industries. Getting approved for a CBD merchant account with any provider is simply not enough, you need to ensure you are set up with a stable long-term merchant account. The main reasons that Stripe does not accept CBD/Delta 8 are as follows: 1) Legal Restrictions: CBD and Delta 8 are heavily regulated, making credit card transactions risky for banks and processors. Avoid claims, flower sales, and make sure to have clear. Even though hemp, and by extension CBD oil, has been. In most cases, when looking for a merchant account, the onboarding process is relatively fast. Here my overlay on our current situation in the CBD industry’s payment sector: Cards (credit/debit): most sought after, high rate of account openings and forced closings due to regulations. For online CBD suppliers, finding a payment processor amenable to cannabis commerce has been an uphill battle. In recent days, it has been just cbd sour gummy worms snowing, and the roofs and distant hills are sleeping quietly under. For example, business owners may: Have strict limitations on the number of transactions that can be processed per month. FREE Gateway Set-Up. For example, you must have an e-commerce website, an. Fast Approval. Until now. Instant approvals might seem enticing, but they can lead to unforeseen complications. Shift Processing can get approval for our high risk merchant accounts in as little as 48 - 72 hours. Trustpilot. (Written on 9/18/19)Q: Are Pennsylvania’s hemp processors now allowed to sell their processed CBD products to the Medical Marijuana grower/processors? A: No. 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. Disable your customer’s SMS notifications. In addition to higher processing rates, CBD merchants may all see increased chargeback fees, PCI compliance fees, early termination fees, and even merchant account reserve withholdings. Due to the higher-risk categorization, the CBD industry often uses alternative payment processors such as HighRiskPay. Our payment processing services offer fraud protection to secure your account and your cardholder’s data. 1. This entails filling out a general form, then adding details to a more thorough merchant application. AllayPay will get your CBD merchant account approved quickly. Merchant service providers that are willing to take on CBD accounts can be hard to find. As a merchant bank for CBD and other high risk businesses, here at Shift Processing, we are very transparent about our fees and hemp no termination fees should you choose to end your resource with us. This provider specializes in hard-to-approve business types and can currently supply kratom merchant accounts, Hemp merchant accounts, and even CBD merchant. 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. 3% of THC, the substance in marijuana that causes a high.