How CBD works?
CBD oil is essential for most of the physiological systems. There is evidence to prove that CBD is accountable for numerous processes such as appetite, pain sensation, mood, memory, and immunity. The Italian researcher, Vincenzo Di Marzo, summed it up well in his 1998 study Endocannabinoids: endogenous cannabinoid receptor ligands with neuromodulatory action: Relax, eat, sleep, forget as well as protect could be some of the messages which are produced by this actions of endocannabinoids, alone or coupled with some other mediators.
How CBD Works – CBD is a miraculous compound. Unlike THC, it does not have any function to bind with the body’s cannabinoid receptors, so it isn’t psychoactive and doesn’t produce high efficiency. It gives significant interest among scientists and physicians in recent years because of its non-intoxicating components.CBD has a binding affinity for either of the two cannabinoid receptors (CB1 AND CB2). Cannabinoid receptors are responsible for controlling sensation in the mind and body, these cannabinoid receptors are designed to interact with Cannabinoids in plants, it is produced by the brain for use in the body according to necessity. Appetite, mood, pain, sensation, and memory are some common sensations, which are under the control of cannabinoids receptors (these are the times where the body needs extra protection against the sensations.
The major features of both the receptors are as follows:
- CB1 receptors are commonly found in the central nervous system and a small proportion may be part of the kidneys, lungs, or liver.
- CB2 receptors are a major feature of the immune system.
How to get the BEST CBD Merchant Account?
If your high risk business happens to be in the CBD Oil industry, we know how frustrating it can be to find payment processors for CBD when you need to take debit and credit card payments and to have your business run smoothly and efficiently. Finding a high risk CBD merchant account can be tricky if you don’t know where to start.CBD oil solutions are considered to be high risk in the online merchant account world due to the nature of how the oil is cultivated; this sends the banks and lenders an immediate red flag and your CBD oil merchant account is deemed as a high risk right from the get-go. This doesn’t mean you’re out of luck when it comes to eCommerce and payment processing online (also known as card-not-present transactions), it just means that you need to choose the right company to handle all your needs for CBD merchant processing.Here are few tips in order to get the Best CBD Merchant Account:-
- Establish the business: Banks and other financial institution are ready to give the best CBD merchant account to well-established business and to successful companies. It is mandatory to have an existing business bank account before applying for the Best CBD Merchant Account
- Monthly volume: If you have good monthly volume then you can easily get your online merchant account at low rates but if the monthly volume for your high-risk business is low then you may face some difficulties in getting the best CBD merchant account.You also face high fees for accounts. Amount of business done is one of the foremost components ,merchant account providers take into consideration.
- Minimize chargebacks: If your business has the high rate of chargebacks then it is highly dangerous for your business as many financial institutes,banks or merchant account providers will refuse to take your business. If you are involved in this business then make sure that the chargebacks should not be more than 3% of the transactions. There are so many tools available, which prevent you from fraud and chargebacks.
- Strong processing history: The chances of getting the best CBD merchant account increases if you can produce strong processing history. Generally, CBD merchants having processing history of more than 6 months always have a higher chance to acquire the best CBD merchant account.
By keeping all these important points in mind related to Acquiring The Best CBD merchant account choose the most appropriate provider who can meet your expectations and needs and provide you the solutions which help you in expanding your ongoing business.
Did Your High Risk Credit Card Processor Shut Down Your CBD Merchant Account?
You just set up a bright and shiny website for your CBD oil business, you have an amazing following on social media and are making some big-time sales through your website via PayPal, Square, or Stripe. But then, just a few months later, your merchant account is terminated without any notice and all sales come to a halt because many of the payment processing companies (like those listed above) consider the CBD oil merchant accounts to be too RISKY.
You have a lapse in payments coming in and your bank account isn’t getting enough funds. Now you owe your bank more money while you have no money coming in from sales. Your CBD oil merchant account has been completely frozen, you have no access to the funds, and your customers start going elsewhere.
Signing up with the best CBD merchant account processor from day one is the best way out. When you come to Ipaytotal for your Best CBD merchant account, you avoid any funds being frozen and your stream of income can just keep rolling in. If you are looking for the best CBD merchant processors who can offer you competitive rates, you have found the one with Ipaytotal.
Why Does it Matter and How Can Ipaytotal Help In Acquiring The Best CBD Merchant Account Solution?
When your positioned for selling CBD oil online and your CBD oil business starts off with the Best CBD merchant account, you increase the longevity of your merchant account and your payment processing options. The bank’s underwriting or due-diligence does not end after the account has been opened. In fact, some aggregate payment processors like PayPal, Stripe, or Square who offer instant approval can freeze or shut down your merchant account once their underwriting process is completed.
This means that there is ongoing risk monitoring that is associated with all merchant accounts. So if an account has been opened under false context or the business model is deemed high risk after the fact, which is almost always the case with CBD merchant accounts, you can expect the account to be closed any time.
You can avoid the headache of starting your CBD merchant processing, getting shut down, and seeking out alternate CBD merchant processors by starting with the Best CBD merchant account from the beginning – this will also increase the odds that the acquiring banks will be more lenient when it comes to approve the line of credit.
How Does Being High Risk Affect Your Chances of Getting The Best CBD Merchant Account?
Certain businesses are considered high risk merchants. Businesses that fall in this category typically have very high discount rates and large rolling reserves.A business is usually classified as a high risk merchant if the industry they’re in has a higher risk of fraud and chargebacks. In the case of a CBD oil merchant, the high risk label is typically due to the business being a reputational and legal risk for banks and lenders due to FDA regulations in the US and other laws globally.
As a CBD oil merchant, especially for those who want to sell CBD oil online, it’s important to understand that what one credit card processing provider, like those aforementioned aggregate payment processors like Stripe and PayPal, considers high risk, another may view as acceptable. This is based on each company’s underwriting guidelines. Merchants who offer high risk services or products should consider a provider that specializes in high risk processing industries and can get you the Best CBD merchant account.
Businesses that are considered high risk have to know who the Best CBD merchant processors are. Those high risk merchant account providers, like IpayTotal, that are willing to process transactions for your high risk business are offering solutions to those merchants like yours in the CBD oil industry – and for merchants who need a payment gateway for CBD. These CBD payment processors are able to get you set up with debit and credit card processing because they are willing to accept the liability for the increased risk associated with your high-risk business.
Because the FDA does not recognize CBD Oil as medication, but rather a dietary supplement, your CBD merchant account is considered to be high risk, even though you don’t technically need a prescription to legally purchase or consume CBD Oil in the United States.
And because your CBD Oil merchant account has been categorized as high risk, you will need to research high risk CBD merchant processors, in order to fine the best CBD merchant account processors, like us here at Ipaytotal, especially since the bigger, well-known banks will not take on your CBD merchant account to process transactions themselves. The way it works is for a separate legal entity to engage in the payment processing while they, the banks, sign on as strictly the depositor.
CBD Merchant Account Approvals
Most of the processors will refuse to accept CBD merchants. It’s a real problem for people who sell CBD edibles, hemp and cannabis oil, and other items in the marijuana industry. Fortunately, this doesn’t have to be a problem for you any longer. Ipaytotal will work with you on opening the best CBD merchant account and keeping your account alive.
With so many states allowing cannabidiol and CBD oil product sales for both medical and recreational use, the demand for payment processing in this marijuana industry is growing. However, many banks and other financial institutions feel that this industry is too high risk or potentially damaging to their reputation. Because of this, they are reluctant to handle any type of payment processing for CBD merchants. This has led to a crisis with companies that offer CBD, hemp products, vape equipment, and other marijuana-related options, and then those companies end up frustrated and losing sales.
You Can Get The Best CBD Merchant Account
You don’t have to deal with the frustration that most CBD merchants experience during the process of endlessly searching for a payment processor. No more turning away customers who want to purchase CBD products with debit and credit cards. Because, the simple fact of the matter is, CBD and hemp based businesses deserve as fair of a chance to have access to the same merchant services as other industries.
We recognize the need for people in the industry to have The Best CBD Merchant Account processing solutions that work for both them and their customers. With a merchant account, previously only available to traditional, low risk businesses, your CBD business can get the credit card processing options you really need.
Getting Approved Is Easier Than You Think
One of the problems with getting approved for CBD payment processing is that many institutions fail to realize how the industry works. They may be dismissive of the value of hemp and CBD products or feel these products should not be recreationally available to people. These kinds of biases are a big part of what causes some banks, lenders, and payment processors to turn down businesses in the cannabis industry. But, at Ipaytotal, we do not put your business in a risk category or apply labels. We choose to see the value of your business for what it is, a legitimate business, highly in demand and with the customer that need payment options.
How We Help With Your CBD Payment Processing
Even if you’ve been told by others that your business is “too high risk to do business with”, just know that Ipaytotal will always work with CBD merchants. We believe that CBD merchants have as much of a right to process credit cards for their hemp-based products as any other, low-risk business.
We have processing options to explore that other processors just simply cannot provide because of our expansive banking partnership network. Because we understand the CBD industry, we can design the Best CBD merchant account processing solution to meet your business’ needs and help your business grow
What Makes Our CBD Merchant Services Different?
With so many processors promising different things, it can be hard to know which is the best CBD merchant account processor. We know our experience, transparent rates and fees and dedicated support team will win you over.
When it comes to CBD merchants, nobody has been providing services even close to what we are able to offer now. Since our banking partner doesn’t view CBD as high risk, like the rest of the processing world, we are able to give our CBD merchants the best in merchant services. We treat your business the same as if you were just selling books, clothing or food etc. No high rate of transaction declines, no skirting the system or integrating with shady, proprietary gateways.
You’ll also enjoy full featured benefits with the best CBD merchant account that other processors simply can’t offer. 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. Give us a call at +44 800 776 5988 or email us at [email protected] Our average approval time is 24 – 48 business hours!