HIGH RISK MERCHANT ACCOUNT SPECIALISTS

28 Dec

By ipaytotal

Category: best high risk merchant services, Best Marijuana Merchant Accounts, Best Merchant Accounts for CBD Oil, Cannabidiol & Hemp Payment Processing, Cannabis Banking & Payment Processing Solutions, cannabis industry merchant processing, Cbd, 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, hemp merchant services, hemp oil merchant account

Merchant Account Solution for CBD OIL companies Comments Off

Merchant Account Solution for CBD OIL companies

LOOKING FOR THE BEST
MERCHANT ACCOUNT SOLUTION FOR CBD OIL
 
?

CBD Merchant Account

A popular nutritional supplement derived from hemp called CBD oil lines the shelves of natural food stores and head shops across the Twin Cities. Although it hasn’t been approved for medical use, customers use CBD oil to treat everything from anxiety to restless leg syndrome.


There’s a lot of confusion out there when it comes to CBD. From its legality to what it actually is, cannabidiol (better known as CBD) leaves a lot of people scratching their heads. Is it marijuana? Is it even a drug? Where can I buy it (if I can legally purchase it at all)?


As demand grows for the oil, farmers and entrepreneurs in the world want a piece of the market. But the murky legal status of the supplement, and hemp itself is a challenge for an industry that already brings in an estimated $700 million a year nationally.


Merchant account solutions for CBD OIL 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.


The CBD oil industry has been booming over the past few years with these products becoming legal in more countries.  If you are thinking of getting into this industry, you need to know everything you can before you start. One of the most important aspects of your business to focus on will be the Merchant account solutions for CBD OIL .  There are a number of issues that you will face with payment solutions for CBD oil products, but there are also some innovative solutions that you can use.


Before you can look at the innovative payment solutions that you can use for a CBD oil product business, you need to know the hurdles that you face.  A business that sells CBD oil products will not be able to use the traditional payment gateways offered to other retail businesses. This is due to the fact that CBD oil is still illegal in certain states and the state and federal legislation do not match in some areas.


This has led to a limitation in terms of merchant account solutions for CBD OIL/payment solution for people in the CBD oil industry.  Banks will not allow you to open a merchant account with them if you have this type of business because it is still technically illegal on a federal level.  Other traditional online payment gateways are also wary of CBD oil businesses because of the regulatory uncertainty.


Traditional merchant account providers will also generally reject applications from CBD oil businesses.  This is why you need to look at other solutions for your payment system.

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

Public Perception Of The CBD Business


The biggest challenge faced by the retailers in the hemp industry is the negative perception of the CBD products among the public. Generally, people perceive that the hemp products are similar to that of marijuana, which is illegal in many states. There is a misconception that since both hemp and marijuana come from the same cannabis family, CBD products causes high’s that are generally associated with the illegal drug.


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.


With so many states allowing cannabidiol and CBD oil product sales for both medical and recreational use, the demand for payment processing/Merchant account solutions for CBD OIL in this pseudo 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 if they give a merchant account solution for CBD OIL. 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.

One of the problems with getting approved merchant account solution for CBD OILis 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.

Features of
iPayTotal Merchant Account Solution for CBD oil

How We Help With Your CBD Payment Processing

E

ven if you’ve been told by others that your business is “too high risk to do business with”, we will always work with CBD merchants. Our core belief is 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 craft a unique Merchant account solution for CBD OIL to meet your business’ needs and help your business grow.

  • We now have DOMESTIC USA based Credit Card Processing for Cannabis Oil Companies!
  • Visa Mastercard Amex Discover Services for All Types of CBD OIL Companies. CBD Lotions, Hemp Oils, Hemp Shampoos..
  • Payment Gateway Integration Compatible with Authorize.net, Invoicing and Full Shopping Cart Integration
  • Low Rate Echeck Payment Setup Cheaper and Lower then Credit Card Procssing Rates. Next Day Deposits
  • Month to Month No Contract, No Early Termination Fees
  • Easy to Use Virtual Terminal. Fully Featured Payment Gateway Setup. Mobile Swipe Processing Available.
  • Solutions Available for Cannabis Merchants, Legal/Licensed Medical Marijuana Companies.
  • You will be Boarded with a CBD Friendly Bank. No Fears about being closed, denied, shut off for your business type.

The popularity of CBD oil business is witnessing ever-growing growth due to the considerable health benefits the CBD products offer not only to humans but also to the pets. Despite the growing popularity, CBD oil business is not legal everywhere, and legalized CBD business for medical purpose require the business entity to apply for a special license for selling the CBD oil for medical use.


The legal regulations relating to CBD businesses are evolving in various states, which make the industry to operate with a high-risk sector tag. The CBD business faces great challenges due to the high-risk nature of the business that attracts stringent legal regulations.

Conflicting Laws

The international, state and federal laws relating to the conduct of CBD products operations are primarily conflicting and complicated in nature, which completely discourages banks or prominent merchant services to support the risky business. Banks consider CBD business as a high-risk one and do not accept an application that involves selling of CBD oil and hemp products.


Hence, retailers in the high-risk business look for reputed high-risk model consulting firms that have high expertise and experience in offering specialized merchant account solutions to their businesses.iPayTotal CBD merchant account solutions are seamless and secure and come with significant advantages such as fast approval, affordable rates, easy integration and dedicated client support for the retailers in the CBD business.


The customer payments are primarily received through credit card or debit cards, and the merchants use the virtual termination alternative or payment gateways for processing these card payments. Due to the high –risk nature of the business, banks or prominent merchant services companies are unwilling to approve these financial transactions or charge exorbitant fees for its approval thereby denting the profits of the retailers in the CBD business.

A merchant account solution specially designed for
CBD oil merchants

Obtaining a legitimate, fully featured CBD merchant account has the potential to greatly boost your business, and help you see the full potential that CBD payment processing can offer you. Many processors will turn you down and chances are, you may have tried with other merchant service providers before finding us.


We have helped countless businesses like yours with getting merchant accounts and providing their customers with a solution to pay via debit or credit cards for cannabis products. Yes, the industry has a higher processing risk, but that doesn’t mean you shouldn’t have access to merchant services that has been available to other merchants for years and make sales to customers who wish to pay with something other than cash.


W hether you’re a start-up trying to sort out your payment processing needs, or are a big player in the CBD world looking for better rates and services, iPayTotal can help you. Get in touch with us, and we’ll make sure your business is linked up with the best in the industry.


Our merchant services go beyond simply providing a CBD payment processing and we are always available to help and share our expert knowledge of the cannabis industry. Our aim is to ensure you receive a unique CBD merchant processing solution which will not only allow you to accept a broad range of payment methods but also increase your presence in the industry and grow your CBD sales.


The application process for a merchant account can be frustrating and time-consuming — especially for high-risk vendors. We pride ourselves on getting our customers set up quickly and without hassle, so they can focus on growing their business.

Payment Gateway Features

MULTIPLE CURRENCY SUPPORT

SECURE PAYMENT GATEWAY

CHARGEBACK MITIGATION

MULTIPLE PAYMENT METHODS

SHOPPING CART PLUGINS

MOTO VIRTUAL TERMINAL

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