Reasonable contracts are a must, as well as customer support. Don’t forget that you’ll need to take into account a number of fees that are mandatory in determining a payment processor, including statement fees, compliance/non-compliance fees, monthly/annual fees, and terminal fees.
Charlotte Figi, a young girl reduced her 300 seizures a week and became almost seizure-free, thanks to CBD oil. This sparked the famous CBD business “Charlotte’s Web” and gave CBD a spotlight in the medical field.
Cannabidiol — otherwise known as CBD — is a phytocannabinoid that was initially discovered in 1940. The compound is one of 113 cannabinoids to be discovered so far and it accounts for 30% of the plant’s extract.
6. Less chance of mistakes and discrepancies
CBD is arguably one of the fastest-growing markets ever to come out of the woodwork — or, to be specific — soil.
Elsewhere around the world, CBD markets are also cropping up. Globally, the CBD industry looks set to earn $22,07,162.54 million by 2026, growing at a 58% CAGR between 2019 and 2026.
Setting up a CBD merchant account is essential because if you cannot accept payments, you won’t be able to ship CBD orders. As a result, you cannot build a list of positive customer testimonials, make a profit, keep the business running… (you can see where this is going).
Take a moment to evaluate which products and services are vital for the success of your business. Chances are, your mind will go straight to thoughts about customer service and payment processing; and, let’s face it, you can’t have one without the other.
Create an account instantly and start accepting payments. You can also contact us to design a custom package for your business.
We strive to provide the best CBD merchant processing in the industry with low rates, high approvals, and easy setup. See why our merchants come for the approvals and stay for the rest.
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CBD eCommerce Integrations
PaymentCloud is fully equipped to provide merchant accounts for CBD with great rates and support because we integrate directly into the software and tools that you already use. This allows a seamless connection between your new payment processing support and your current website. This helps us be the leader in providing CBD merchant accounts for our happy clients. We can hook into your current terminals, your website, and even your accounting software. Let us know what you use and we’ll be happy to help.
On the other hand, you simply cannot ignore the fact that CBD’s strict regulation puts all products containing the cannabinoid in a high-risk category. As a result, many payment processors will be reluctant to work with CBD companies.
A significant portion of CBD payment processors will operate using API integration, which is the most common payment gateway of them all. A major benefit of using API is that a payment gateway of this kind can be monitored by you, the business owner, as well as provide you with an insight into how the ecommerce store looks from a customer’s perspective.
Ultimately, this kick-started plenty of research into a molecule that has since been hailed as a medical marvel ingredient.
It might be almost 80 years since CBD was first discovered, but there’s still a lot to learn about this unique chemical compound.