For a long time selling or marketing CBD products (like oil, creams, tinctures, and more) was seen as high risk for merchant service providers offering credit card and debit card processing services. Now in 2019, this is no longer the case with availability and sales increasing steadily throughout the United States. For ecommerce companies or physical stores, selling CBD meant being a high risk client with up to 6-7% transaction fees and some times even large reserves to cover the account. This was not a sustainable or beneficial system for nearly every single CBD merchant.
Now, with legalization of CBD as an over the counter solution, the increase in use medically, and the widespread availability of medical marijuana use in the majority of US states, CBD has finally become a “normal” product. If you are a seller of any variety of CBD product, you can now be treated with greater respect and understanding of your business for what it is, a normal and legitimate retailer of a useful product line.
As CBD (also known as “Canabidiol”) becomes more widely available and more widely respected as a useful solution to common ailments such as pain, anxiety, and other physical problems, more and more people are looking to test it out. This means that ever CBD merchant has a greater amount of potential clients and an overall increase in the consumption, production, and purchasing of CBD of all varieties. If you offer CBD and don’t yet accept credit and debit card solutions, now is the time to make the switch. If you have been avoiding offering CBD products because of the high rates to process cards or the high reserves, now you don’t have to wait anymore.
Working with a merchant service provider who knows the CBD industry, the cannabis industry, and working with companies from high risk to low risk, a good CBD merchant service is no different. Now, standard processing fees apply to all variety of CBD companies and merchants. Reserves are no longer required and the approval process is far less infuriating. Be respected for the company and business that you are, a legitimate retailer offering popular and powerful goods that people want.
For the Best CBD Credit Card Processing, contact us today and see how we can reduce your rates and provide normal risk merchant services for your daily card transactions, be them online or in person.