HIGH RISK MERCHANT ACCOUNT SPECIALISTS

11 Oct

By ipaytotal

Category: best high risk merchant account provider, Cannabidiol & Hemp Payment Processing, Cannabis Banking & Payment Processing Solutions, Cannabis Merchant Accounts, CBD and Hemp Businesses, CBD credit and debit card payments, cbd merchant account reviews, CBD Merchant Accounts, cbd oil merchant processing, cbd payment gateway, cbd processing, credit card processor for cbd products, Gateway/Merchant Account for Hemp/CBD Oil

Legitimate stable CBD oil merchant account , for startups. Comments Off

Legitimate stable CBD oil merchant account , for startups.

What Is CBD Oil ?

Cannabidiol (CBD) oil is essentially a concentrated solvent extract made from cannabis flowers or leaves that is dissolved in an edible oil such as sunflower, hemp, or olive oil. Solvents used can vary from relatively innocuous organic solvents (ethanol, isopropyl alcohol) to more harmful ones (petroleum-ether, naphtha), or even supercritical fluids (butane, CO2).


The exact conditions and solvents applied have a great impact on, for example, the taste, color, and viscosity of the final product. Because many other plant components are co-extracted with the desired cannabinoids present in the herbal material, these are sometimes removed by a treatment known as “winterization.” By placing the extract in a freezer (–20 to –80°C) for 24–48 h, components with a higher melting point such as waxes and triglycerides, as well as chlorophyll will precipitate, so they can be removed by filtration or centrifugation. This treatment can significantly improve the taste and color of the final product.


Legitimate CBD oil merchant account, for startups.

We are in the midst of the CBD trend. Cannabidiol, CBD, is a chemical in the bud plant with purported medical benefits, but very little THC, psychoactive plant ingredient. Put simply, it’s not going to makes you feel high or stoned.


Dozens of on-line companies sell it as an addition. Plus it may be seen in everything from makeup to water in bottles to coffee. You can select it up in health food stores and smoke shops, in New Jersey, in which pot has not been legalized.


Investors and startups are clamoring for info and advice on the way to get in the CBD business amid an upsurge in what is clearly demonstrating to be the rate-setting sector in the general hemp business, according to Daniel Kruse, Chief executive officer at European advisory HempConsult GmbH. “We have had a big rise in the number of requests on the CBD at the past 12 months. Firms want to know about the legal issues, the way the value chain works and what the market look like general,” Kruse said. We understand the demand for individuals in the business have to  CBD OIL MERCHANT ACCOUNT solutions that work for both of them as well as their customers.


The most typical reason behind using CBD oil would be to alleviate stress and depression, “‘said Martin A. Lee, director of the nonprofit Project CBD Cannabis Research Group and author of Smoke Signals: A Social History of Marijuana. ,in addition, it is popular for pain and is being used to treat cancer, Crohn’s, diabetes mellitus, rheumatoid arthritis, Post traumatic stress disorder, coronary disease, antibiotic resistant infections, multiple sclerosis and schizophrenia. Since cannabis is illegal at the federal level, there is a dearth of clinical studies on the health effects of CBD oil at the U.S., but Lee said there is extensive pre clinical research, here and much more authoritative studies abroad.


It’s accepted for continual pain in over two dozen states. He explained. Lately, the drug Epidiolex, whose active ingredient is CBD oil, has been accepted by the FDA to be used in controlling seizures in kids. Despite its widespread use, the brief answer is no, CBD oil isn’t legal. That is since the oil stems from the cannabis plant, that is classified by the federal Drug Enforcement Administration as a chemical without a currently accepted medical use and high potential for abuse, requiring strict control, Lee explained.


Obviously, the legality of pot from the U.S is an entangled canvas. Even in states such as California and Colorado, where cannabis is legal on the state level, dispensaries can be closed down at any moment by the federal government.


Similarly, though CBD oil is technically illegal on the federal level, it is sold freely online and in stores even here in New Jersey. Erica McBride, executive director of the National Hemp Association in Washington, said there have been instances in states where pot hasn’t been legalized where CBD oil was confiscated at the post office or people possessing it was arrested, but it’s “very rare.”


Hemp is marijuana grown for non-recreational uses and contains 0.3 percent or less of THC. Growing and producing CBD oil made from hemp may soon become fully legal. Lawmakers are working to finalize a 2018 Farm Bill sponsored by Sen. Mitch McConnell that removes hemp from the controlled substances list, allowing it to be grown legally on a large scale. Negotiators are hoping for a completed report this month and a vote on the bill by year’s end. Even then, it remains to be seen what the FDA will do to regulate CBD oil products.


Oil has become a favorite mode of administration for many medical users of cannabis and cannabinoids for multiple reasons. First of all, concentrated extracts allow the consumption of a large dose of cannabinoids in an easily ingestible form. With CBD oil, there is no risk of intoxication (getting high)  , so much larger doses can be consumed than would be possible for THC-rich products. Many users who prefer the holistic approach of using herbal cannabis worry about the stigma associated with the typical smell caused by smoking or vaporizing it. Cannabis oil has no smell that may identify a consumer as a cannabis user, and it can be used discretely even in a social setting, e.g., at work or around family.


Moreover, it can be efficiently dosed simply by counting the number of drops consumed. These same benefits of using a concentrated extract were identified in a large survey among medicinal cannabis users published in 2013, perhaps as an early indicator of the emergence of cannabis oils as a preferred method of ingestion. Currently, the market is developing further towards more sophisticated and patentable products, including oral capsules, liposomal products, skin creams, and chewing gums containing CBD.

The Controlled Substances Act

In the United States, the federal Controlled Substances Act (CSA) controls substances that are psychoactive or otherwise have abuse potential. The CSA controls all stages of the manufacturing and supply chain, and all handlers (including “ultimate users,” such as patients). The extent or stringency of these controls is largely determined by a substance’s classification in one of five schedules for controlled substances. Classification depends on a substance’s medical effectiveness and abuse potential (21 USC 812). The general rule is that a substance and products derived from that substance are in the same schedule.


The criteria for substances in Schedule I are no currently accepted medical use in the United States, high potential for abuse, and lack of accepted safety for use of the drug or other substance under medical supervision. These substances include marijuana and its cannabinoid components, THCs, ibogainemescalinepsilocybin, peyote, heroin, and d-Lysergic acid diethylamide (LSD).


The criteria for substances in Schedule II are currently accepted medical use in the United States, high potential for abuse, and abuse of the drug or other substances that may lead to severe psychological or physical dependence. Schedule II substances include most opioids (e.g., oxycodone) and stimulants (e.g., methylphenidate). Opium and coca leaves also are listed in Schedule II because approved medications (e.g., morphine) were already on the market in 1970, when the CSA was enacted.


Like drugs in Schedule II, drugs in Schedules III–V have a currently accepted medical use in the United States. In addition, they have lower abuse potential when compared with drugs in the preceding schedule. The phrase “currently accepted medical use in the United States” is not defined in the CSA or in its implementing regulations. However, the Drug Enforcement Agency (DEA) has developed the following five criteria, all of which must be satisfied: (1) the drug’s chemistry must be known and reproducible, (2) there must be adequate safety studies, (3) there must be adequate and well-controlled studies proving efficacy, (4) the drug must be accepted by qualified experts, and (5) the scientific evidence must be widely available.

How a CBD OIL MERCHANT ACCOUNT helps you in your online CBD oil business ?

With CBD OIL Merchant Account,  your CBD business may get the credit card processing options you really need. The fastest-growing segment of credit card transactions today is in card-not-present transactions in which a customer makes his or her purchase by Mail Order, Telephone Order (MOTO) or fax order instead of being physically present at the merchant’s location.


This industry is ever changing and their ability is subjected to many factors. Also when it comes to transparency and competitive pricing, the CBD industry is ready to pay higher than the average rates. With accepting credit cards there is security and convenience which makes rolling reserves and occasion fund hold worth.


The CBD sellers will get a lot of security when they open a merchant account that will make the payments successful. This is a high risk industry and you need to look for one who has a lot of experience in this industry in the domestic as well as the international market.


If you want to process credit cards for mail order transactions, have phone order processing or if you operate an inbound/outbound telemarketing business CBD Oil Merchant Account can help you get the processing software/hardware and CBD Oil Merchant Account  to match your specific needs. CBD Oil Merchants enjoy superb customer service with the most competitive rates available.


Additionally, CBD Oil Merchant Account offers solutions that allow mail order/telephone businesses the ability to process credit cards as well as accept checks.


How Does Being High Risk hamper Your Chances of Getting a CBD Merchant Account?

Certain industries 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. A CBD oil merchant account is considered high risk typically due to the business being a reputational high chargeback offender and legal risk for banks and lenders due to FDA regulations in the US and other laws overseas.


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 High Risk CBD oil merchant processor’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 a high risk CBD OIL merchant account.


CBD oil merchants considered as high risk have to know who the correct CBD OIL 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.


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 find the best CBD payment processors, like us at Ipaytotal, especially since the bigger, well-known banks will not take on your CBD OIL 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 and Hemp OIL payment processing service

For people who work in the Hemp business, it can be difficult to secure merchant accounts which facilitate convenient hemp payment processing. The reason is that the Hemp business is considered to be ‘high risk’ and therefore the financial institutions which most businesses go to to get merchant accounts will decline them.


Thanks to the fact that the industry is pretty new, and on the edge of being legal it is still seen as somewhat unreliable and underhand to a lot of people, and so the hemp industry is still having to work on its reputation. Whilst you might be able to see and understand the benefits of products such as hemp oils, creams and other items there are still many people and areas who are still coming round to the idea. And it is because of this perceived unreliability and reputation that a lot of financial institutions have deemed it to be ‘high risk’, refusing merchant accounts or help with any related to hemp payment processing.


Payment Processing Service for all Hemp and CBD related merchants

Most companies in the hemp industry work either through retail (a physical shop), mail order or e-commerce and regardless of what type of business yours is, CBD OIL Merchant Account can help you to process all related products to CBD or Hemp payments at the best rates for your business, with the utmost transparency. Unfortunately, running businesses online and by mail order especially, lends itself particularly to card payments, and for businesses to be unable to process these types of payments – or to be able but at high cost to themselves can stifle the success and growth of a business.

Why iPayTotal

To learn about CBD Oil Payment Processing, call us at +44 800 776 5988 or click here to set up your personalized payment consultation. iPayTotal is a CBD payment processor that provides CBD merchants with premium high-risk merchant services.


We utilize a variety of processing techniques to ensure that CBD merchant processing is a smooth and simple process for our high-risk CBD Merchant Account. Some of the features of your CBD merchant account include:

  • Multi-bank processing (including off-shore)
  • Secure payment gateway
  • Chargebackalerts.
  • Chargeback disputes
  • ACH/Check 21 processing
  • Competitive processing rates (below 6%)
  • Fraud prevention and protection
As

a CBD payment processor, iPayTotal works hand in hand with CBD merchants to protect their businesses from account closures, fraud, and chargebacks. We offer award-winning fraud and chargeback protection and have strong relationships with over 40 banks who work with high-risk merchants both in the United States and offshore.

Why Does this Matter and How Can iPayToTal Help with my CBD oil merchant processing?

when you are selling CBD oil online and your CBD oil business begins off with the right merchant account, there are very strong chance that you will be associated with this account for a long run and your CBD oil merchant processing options will also be increased. The bank’s underwriting does not end after the account has been opened. Truth be told, some aggregate payment processors like Square, PayPal, or Stripe who offer instant approval for CBD oil merchant processing can freeze your merchant account once their underwriting process is completed


This implies there is progressing risk monitoring that is related to all merchant accounts. So if an account has been opened under false business model or pretenses is considered high risk sometime later, which is quite often the case with CBD oil merchant accounts, you can anticipate that the account should be shut.


You can prevent this headache of starting your CBD oil merchant processing, getting close down, and searching out alternate CBD merchant processors by beginning with the right high risk merchant account from the beginning – this will also boost the chances that the acquiring banks will be more lenient when it comes time to favor the line of credit. iPayToTal gives free quotes that are quick and easy.


CBD Oil Basics and How to Acquire a CBD Oil Merchant Account

In the United States, federal and state laws regarding the medical use of cannabis and cannabinoids are in conflict and have led to confusion among patients, caregivers, and healthcare providers. Currently, cannabis is legal for medical purposes in 50% of the states, and another seventeen states allow products that are high in cannabidiol (CBD) and low in THC (tetrahydrocannabinol) for medical use. Many of these artisanal products are sold in dispensaries or over the internet. However, none of these products has been approved by the Food and Drug Administration (FDA). Understanding how federal laws apply to clinical research and practice can be challenging, and the complexity of these laws has resulted in particular confusion regarding the legal status of CBD.


CBD oil differs from Marijuana in a few ways. For one, CBD is a cannabinoid that is part of the natural makeup of the cannabis plant. It has antibacterial, neuroprotective, and pain relief properties and has also been shown to help reduce anxiety, prevent seizures, and even lower blood pressure. CBD on its own is not a psychoactive chemical meaning it will not cause the intoxicating effects of consuming pure marijuana which contains illegal amounts of tetrahydrocannabinol (THC) along with various other cannabinoids. CBD oil on the market can be sold as a CBD isolate (just CBD) or a full spectrum oil that contains CBD, other cannabinoids, and minute amounts of THC (by law, less than 0.3% of bulk weight).


Steps To Get CBD OIL Merchant Account

To get a CBD merchant account, one must follow several rules and regulations. Following are the steps that need to be followed to get your CBD merchant account:


  • Maintain a Good Credit Card History – Business owners who are new to this business must maintain a good credit card history. Owners who don’t have any overdraft fees or don’t have any history of low balances will have the best chance to get their merchant account.


  • Maintain consistent Processing Volumes – Few merchant account owners won’t invest until they have enough demand for the CBD. One has to maintain a stable processing volume or a large volume of transactions. This will show the merchant account providers that you’re worth their investment and will make them invest more.


  • Comply with Laws and Regulations – Before you start your business, check whether your state permits the sale of CBD or CBD related products. If you’re pretty much sure about the regulations, then get a licensing for your business. Merchant account service providers mandate a copy of licensing when you apply for the merchant account.


    Steps to Set Up Your CBD Oil Merchant Account

As stated before, regulations and laws around the production, sale, and consumption of CBD from The United States varies by state to state, but on a national level, CBD is categorized as a schedule I drug under the controlled substances law. Although CBD is legal in many states, the classification implies national law enforcement agencies may shut down CBD manufacturers and media charges against consumers on a whim. For that the reason why the CBD OIL industry of the CBD is considered a high risk when acquiring banks which provide businesses with credit and debit payment processing services. If you do not use payment processing solutions which take high risk accounts, as we do here in Ipaytotal Ltd, funds on your CBD oil merchant account may be frozen or closed down entirely after the lender’s underwriting process has found the business as large risk. Before you set up your CBD oil business, here are some steps you may take to get your high risk CBD oil merchant account up and running:


1)You would like to research your regional hemp cultivation laws, or in case your importing raw products, transit laws, and everything to make sure you are on the right side of state laws.


2) The next step is simple, because by reading this blog post on the site, you are at the proper place to begin looking for credit and debit payment processing solutions.


Payment Gateway Integration For CBD Merchant Accounts

  • Online Account Access
  • Manage and review transactions, configure account settings, view account statements, download reports and more through a password-protected website: the Merchant Interface
  • Use the Transaction Details API to retrieve the details of your processed transactions for reporting and reconciliation
  • Set up multiple user accounts with permissions to control account access

Every merchant account approved by iPayTotal and its acquiring banking partner includes access to the approving bank’s payment gateway. To learn about CBD Oil Payment Processing, call us at +44 800 776 5988 or click here to set up your personalized payment consultation.

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