Hemp or CBD merchant service must be obtained in order to process payments, other than cash or crypto currency for your CBD business. Hemp industry is one of the most profitable global markets out there right now and is constantly facing ever-changing Federal regulations and laws. CBD and Hemp products makes big profits in a short amount of time – what does this mean? – They often struggle to find a CBD merchant service provider that suits them or even accept them.
Big and small hemp related businesses need to find a CBD merchant account provider who won’t charge them high payment processing fees. If you find yourself looking for a bank to open up a merchant account for CBD type of business, more than likely you will be denied. Why? Because most banks in the USA will not work with high risk industries such as CBD. They can’t process high volume sales and don’t want to deal with industries that have lenient regulations. And as a business owner, you would have to deal with charge-backs and often fraud, which will stop you from gaining profits.
So why don’t banks want to work with high-risk industries? Companies who sell CBD, Tobacco, Adult entertainment and firearms are considered high risk. Banks are federally connected so if they support a potentially illegal business, they will be investigated. They will be putting their own company in risk. That means you will need a CBD merchant service provider that deals with high-risk businesses. You would also look for a CBD Merchant account provider that has low rates and no hidden fees. The biggest mistake business owners make is dealing with a provider that doesn’t fight against charge-backs and fees.
How do you find Hemp or CBD Merchant Service Provider?
Well, good news! CBD Merchant Service works with CBD or Hemp related companies specifically! We make sure to stay updated on regulations and laws so you won’t face issues. CBD Merchant Service offers the lowest rates and quick settlement times. We understand how difficult it is to find a trustworthy payment processing provider – but doesn’t fear we are experienced and can guide you throughout. If you have any questions in regards of your application or how we work call an expert now at (877)-996-2795!
