Looking for a CBD merchant account? You may need a high risk payment processor if you're starting your business online. CBD is a unique substance that Accept Card Payments Quickly & Easily. Safe, Secure Processing with US Banks. Fast Approvals Low Rates No Reserves Quick Settlements Proven, reliable payment processing services for CBD and hemp oil businesses. Great for all CBD merchants including ecommerce, wholesale, distributors, manufacturers and retail locations.
How to Acquire a CBD Merchant Account
Looking for a CBD merchant account? You may need a high risk payment processor if you’re starting your business online. CBD is a unique substance that straddles the line in a unique regulatory environment.
Cannabidiol, abbreviated as CBD, is one of 113 active cannabinoids identified in cannabis. CBD oil is a compound in marijuana that offers many benefits without any psychoactive effects. Health specialists are currently researching the benefits of CBD. Studies will show if it’s useful for treating major ailments and illnesses such as depression, cancer, epilepsy, and much more.
Why Is CBD Considered High Risk?
Because of the questionable nature of this product, it has been categorized with banks and CBD payment processing companies as high risk. This is due to the simple fact that CBD oil is manufactured from the hemp plant. A bank does not want to support a product that has varying legal concerns. It’s increasingly difficult for retailers to secure a CBD payment gateway for a merchant account.
Getting approved for high risk merchant accounts without enduring the hassle of being declined by mainstream processors isn’t difficult. Choose an experienced and reputable credit card payment processor like PayKings. The only way to get accepted for a CBD merchant account without the added challenges is to work with a company that is very experienced in the high risk industry.
Different Types of CBD and Products
There are several different kinds of CBD products on the market today. Since CBD companies are considered high risk, it is good to know the types of products they sell, which make them a higher risk.
- CBD Tinctures
- CBD Capsules
- CBD Concentrates
- CBD Topicals
- CBD Spray
- CBD Vape
- CBD Hemp Oil
- CBD Flower
- CBD Edibles
- CBD Pet Products
- CBD Isolate
- CBD Suppository
- CBD Skin Products
- CBD Hair Products
- CBD Transdermal Patches
- Water Soluble CBD
- CBD Softgels
- Emulsified CBD
Finding Your CBD Payment Processing
PayKings is among the most respected and knowledgeable CBD payment processing companies in the industry. Our team of experts specializes in high risk merchant accounts, such as CBD oil merchant accounts. We offer the best payment processing solutions at the lowest possible rates in the business.
Classifying businesses within certain industries, including many Ecommerce businesses, is an essential deciding factor for banks and payment processing aggregates regarding their assessment of the risk involved in doing business with them.
Aside from the risk from the reputation that comes with approving a CBD merchant account, another reason a business might be considered high risk relates to their ratio of chargebacks. Chargebacks add to the fees that businesses are required by credit card suppliers to pay. This covers the losses due to disputed or fraudulent transactions.
CBD merchant accounts are deemed as high risk according to the banks’ underwriting procedures. One of the ways that financial institutions or payment processing companies calculate risk is determined by chargebacks and fraud. The more a company is associated with chargebacks, the larger the risk.
High Risk Business Classification Factors
- Business Location
- Business Size
- Credit History
- Credit Card Processing Background
- High Chargeback Ratios
- Whether the business operates exclusively online (Ecommerce)
The application process can become very complicated and involved. So applying for a CBD oil merchant account with a professional in the field is critical to your business’ success.
PayKings helps countless hard-to-approve merchants get approval for a CBD merchant account with our in-house pre-underwriting services that cater specifically to your high risk business needs.
You get a quick and free quote with PayKings today. We’re here to offer your CBD business the best possible payment processing solutions at the lowest possible rates. If you are looking for sustainable, long term financial solutions, let PayKings help you discover the financial success you’re capable of.
CBD Oil Merchant Account
Proven, reliable payment processing services for CBD and hemp oil businesses. Great for all CBD merchants including ecommerce, wholesale, distributors, manufacturers and retail locations.
CBD Merchant Account Approvals
Accepting card payments through a full-featured CBD merchant accounts boosts your sales. And lets you realize the income potential that CBD payment processing gives you. Now CBD merchants enjoy the same benefits from accepting card payments as any other businesses.
Our US banking partners don’t consider CBD high risk accounts. As a result, you get the most favorable merchant accounts available for CBD payment processing.
Get fast account approval. With quick settlement of processing funds. And rates 50% lower than most other companies offer.
CBD merchants of all sizes are welcome to apply. Whether you are a startup CBD merchant, a mid-sized business or a publicly traded company processing millions per month, contact us today. Take advantage of our quick approvals, transparent rates, and superior service from a support team dedicated to your success.
Processors & Banks Open Doors to CBD Merchants
CBD oil was once considered a high risk by all processors & banks. Some banks still consider the industry high risk. However, other banks are opening their doors to the industry and no longer consider CBD merchants high risk.
Increasing demand for CBD products by US consumers combined with changes at the federal level means CBD payment processing is going mainstream. CBD merchant accounts are becoming easier than ever to obtain as the product is gaining traction in the marketplace.
The competitive marketplace means that rates for CBD merchants are coming down. In fact, our policy is to beat any competitive rate you receive. Simply send us the details and we’ll lower your rate.
Approval times for CBD accounts is fast, within 48 hours. For ecommerce, the CBD merchant account payment gateway is quickly integrated into your website and shopping cart. Making it simple for customers to buy from you.