If you are thinking about opening a CBD business, one of the best ways to get started is to open a merchant account through a high-risk payment processor. You can choose to accept payments from customers online or through a mobile app, but make sure that you have sufficient funding or operating experience to secure an account. For example, you can’t accept credit cards if you don’t have any experience selling cannabis products.
Highriskpay provides a variety of payment solutions for CBD businesses. Their products include an online payment platform, inventory tracking, and installment payment options. Additionally, their products come with security features, including two-factor authentication, a misrepresentation detailing framework, and recordkeeping for every exchange. They also provide a reporting system in case fraud occurs.
If you’re in the CBD industry, you’ll need a payment processor that’s designed to handle high-risk transactions. These services typically accept credit and debit cards and offer the ability to integrate with your existing eCommerce store or workflow payments. Some even allow for CBD-specific payments.
HighriskPay is a merchant account processor with extensive experience working with banks. It also offers high-risk merchant accounts and payment gateway services. Other features include chargeback management, credit card acceptance, protection from fraudulent transactions, and ACH processing. HighriskPay can help you grow your business with payment processing and merchant account options tailored to your business.
Green Birdy is another payment processor that caters to high-risk industries. This company has been in business for over 20 years and is a leading provider of payment solutions. They offer a variety of payment methods and are headquartered in Toronto, Canada. Other high-risk payment processors include PremierPay, which is based in Toronto, Canada, and has a diverse background.
While it may seem difficult to find a high-risk payment processor for CBD businesses, it is possible to find one that is right for you. You’ll want to find one that offers a variety of services and doesn’t require instant approval. You may even end up getting deferred approval until you sign a long-term contract with them.
Also, Read-High Risk Merchant Processors
Easy Pay Direct
Easy Pay Direct offers high-risk credit card processing. The company’s platform currently serves over 60,000 merchants. High-risk businesses often have difficulties finding a payment gateway. Not all payment gateways work with high-risk businesses, and many merchant account providers are reluctant to work with them. Easy Pay Direct caters to high-risk businesses through its proprietary EPD Gateway.
The company has a 24-hour customer support service. It also provides offshore account processing for small businesses. Its processing minimum is $50,000 per month, which makes it an ideal option for startups. It launched in 2000 and has been serving high-risk and low-risk businesses alike for more than a decade.
When choosing a high-risk payment processor for your business, it is important to choose one that will mitigate potential problems and provide responsive customer support. Having a good customer support team on your side can mean the difference between a successful sale and a chargeback. Moreover, the payment processor you choose should not charge unreasonable fees, impose unnecessary restrictions or require you to pay a monthly statement fee. Some high-risk payment processors also charge terminal and setup fees.
When choosing a high-risk payment processor for your CBD business, it is important to consider the features that will benefit your business the most. For example, if you’re selling CBD products, you’ll need to be able to process payments in several currencies. You can also look into the company’s payment security policies.
Square CBD is a payment processor for CBD businesses. It provides hardware, software, and processing services for all types of payments. However, some merchants have complained about the processing fees. Some of these businesses are considered high-risk, so Square CBD charges higher fees than other payment processors. Nevertheless, Square CBD is a good option for CBD businesses looking for competitive payment processing solutions.
The company also recently went public, and its stock has been performing not as well as some investors expected. This was due to the fact that Visa disclosed it owned Square in an SEC filing in February 2016. This prompted some journalists to speculate that Visa would acquire Square, but this was misinterpreted and Visa has made no formal announcement about its plan to acquire Square.
Square has been accepting CBD payments since early 2019. Though the company’s fees for CBD payments are a bit higher than their low-risk rates, there is no account fee and you can sign up for an account in just one day. It is also possible to get a CBD loan for as low as $300. While Square CBD processing rates are slightly higher than other payment processors, the company offers a free merchant account that is much better for your business.
Square is expanding its payment processing service for CBD businesses. This comes at a time when the CBD industry is struggling to access basic financial services. Fortunately, Square is listening to the concerns of the CBD industry and is working to solve its problem. The company is conducting an invite-only beta for CBD products and is taking steps to make their payments easier. The company is also paying attention to public policy changes to better serve its clients.