CBD & Cannabis Booming in Canada Amid Pandemic

CBD Credit Card Processing Company Canada

We have all had our lives been affected by the covid-19 global pandemic. Many of us no longer commute to work, kids are doing school at home, gatherings and events are canceled, sports teams play with no fans, and we are mostly staying home. With the increased time spent indoors, there has been an increased demand for items that can be used within the home to pass the time. Alcohol sales have multiplied and so have cannabis and CBD sales all across Canada.  

This has been a great opportunity for dispensaries and marijuana accessory businesses alike. People with more free time, some with more disposable income (from no travel, no eating out, etc) and without the ability to travel; means looking for entertainment closer to home. Enter, cannabis and CBD in Canada. A booming industry that is booming ever louder amid the pandemic. 

CBD Sellers Market

Most of us are aware that Cannabis contains the psychoactive ingredient THC which produces the “high” or “stoned” effect, and plenty of people are seeking that out during these times. But there is also a large growing number of people looking for the benefits from these plants without getting “stoned”. CBD has met those consumers and a new budding marketplace now exists.

CBD (Cannabidiol) is a substance derived from hemp or cannabis which offers therapeutic benefits without producing the “stoned” or “high” effect. As people are experiencing higher anxiety, uncertainty, financial hardship, all with more time on their hands to think about it; it’s no wonder CBD is growing in popularity.  See our article on the rules of “Marketing Your CBD Company is More Difficult than You Think“

Why CBD and Cannabis?

These are stressful times even for the wealthiest of people out there. There is more at stake than dollars and bills at this time with a public health crisis like no one living has ever experienced. Some of the most notable benefits to CBD and Cannabis is that they reduce stress and can improve sleep and appetite. Because we live in one of the most stressful times in recent history, the anti-anxiety benefits of CBD and cannabis are gaining in popularity. These are far safer than powerful pharmaceuticals and don’t offer the same sort of addiction risks that pills do. 

Selling CBD & Cannabis in Canada

We have had medical and recreational cannabis usage here in Canada for a few years now so that is nothing new. But what is new is that you can now accept credit and debit card payments at your physical shop or online. If you run a dispensary or CBD business, taking sales online is more important than ever as people look to stay home and businesses opt for contactless payment options. When you can make sales online and products through the mail, you increase your sales opportunities and keep safety paramount.

No longer are CBD or cannabis businesses deemed “high-risk” here in Canada. A decade ago it was nearly impossible to accept card payments and if you did it was a ridiculously expensive high-risk processing fees. That is no longer the case and your CBD or cannabis business is no longer looked at as anything other than a normal business. You don’t need huge cash reserves to take payments or have processing rates of up to 10%. Nowadays you will expect standard processing rates and standard time frames for direct deposit. 

For the best in CBD Credit Card Processing Company Canada, look no further than over a decade of expertise right here at Brother Processing. We are investors in the Cannabis industry and work with every client closely, here we know who you are and what your business requires. Call Stuart today to discuss how we can improve your credit card processing rates today.