For a long time selling Cannabidiol (CBD) either online through an ecommerce website or through a physical brick and mortar had some gray areas when it came to accepting payments. Cash was the only payment method that could be used for quite a long time as merchant services and banks were unwilling to work with distributors and sellers of the hemp or cannabis derived compound. That gray area persisted for some years but with the surge in popularity for CBD starting to gain more and more momentum, finally a solution is available for USA based retailers.
No Longer High Risk
The biggest change is that CBD companies, retailers, manufacturers, and distributors could get a credit and debit card processing solution but under what is known as “high risk”. The same as gambling websites or other non-traditional businesses. What that means was worse processing rates per transaction, sometimes up to 5 times more expensive to process than traditional businesses along with large cash reserved to protect against expected or perceived risk of chargebacks. That is finally no longer the case. As CBD has gone mainstream and is now available everywhere form the grocery store to the corner store gas station, banks and merchant services have caught up with the buzz and advantages of allowing more companies to sell CBD at better rates. It boosts the market and in turn they also benefit.
CBD Is Not A Drug That Produces A “High”
Because CBD has no THC in it, there is no “high” that a user experiences when ingesting it. This is where the gray area has now been ironed out. As different states legalize or de-criminalize cannabis, CBD is a different compound all together and therefore is not viewed by the federal, state, and local laws the same way in which Cannabis still is. Which in some states is still very illegal. This has promoted the ways in which and to who CBD is marketed and sold, making for a great business opportunity.
CBD Is Versatile
Because CBD is available in so many different ways, it makes for a great product for many businesses to offer. Now that you can accept credit and debit card payments when selling CBD, you can take advantage of all the product varieties in which it can be consumed. From oils, to powders, to tinctures, to creams, to vapes, and more. CBD can be consumed in so many different ways and added to so many different things, it is suitable for just about anyone in one form or another.
Getting Credit & Debit Processing Today
So if you are selling or are planning to sell CBD in any form, you need to make sure you’re going with the right type of credit and debit card processing. Not all companies have the same rates for processing fees or time frames for direct deposit, and many of them are just large bank style agencies where no one knows you and you can’t get help immediately if you have an issue. Working with a more dedicated merchant service provider can make a huge difference in ensuring your business and processing needs are running smoothly and address issues whenever they come up right away. So be sure to get on the phone, ask about the differences between them and another provider and why they should hire you to do their merchant service processes.
For the best in CBD Credit Card Processing Companies, look no further than BrotherProcessing.com and more than a decade in the CBD and Cannabis merchant service business world. Call Stuart for a free no obligation consultation and see how Brother Processing can improve your processing needs. 1-800-891-8965