Cannabidiol (CBD) is an unregulated substance that is derived from hemp or cannabis. For this reason there has been a large grey area for retailers looking for a credit and debit card solution for their CBD business (either online or brick and mortar). Because of its close connection with regulated or controlled substances, there was for a long time no real solution for taking payments outside of cash when offering the various forms of CBD available today. Finally, that has changed and now there is a legitimate and straight forward merchant processing solution that you can start to utilizer right away in the United States.
CBD is a natural compound that is used to treat a wide range of chronic and acute conditions. From sleeplessness, anxiety, pain, and more, CBD is growing in popularity rapidly and can be consumed in ways like powders in food, oil tinctures, oil to vape, creams to massage into the muscles, creams for the skin and hair, just to name a few. It seems you can’t go anywhere without seeing CBD available these days in places like grocery stores, health food stores, even as far as gas stations. But there was no clear path to getting an approved merchant account with any sort of reasonable rates.
When rates are incredibly expensive to process sales, it takes away the value from being able to offer credit and debit card payment options at all. Consider the normal rates per transaction should be between 2-4% (depending on the card and merchant account), but CBD companies were getting rates as poor as 7-10% per transaction. That is more than 3X the fee’s associated with accepting sales to your business, not something that looks good on paper or in your bank account. Today though, if you are an American based CBD retailer you now have a solution that is easy to establish and which will not charge you outlandish rates just to accept payments to your business.
So whether you are a new business just getting started or have been established for quite a while and have only been able to accept cash for CBD sales, a new chapter is opening for 2020. Now you can offer your customers the payment options that we’ve all come to expect in normal purchasing situations. A simple card reader that can run physical cards or an online ecommerce API and shopping cart integration which lets people make purchases online to your business. It will be 2020 in a few days here so not offering what we’ve all come to expect in the modern era can be a tarnish on your businesses success and growth this decade.
Make the change today and get started with a no obligation consultation with Stuart at BrotherProcessing.com. At the forefront of processing and merchant account possibilities for almost 20 years, with the best rates, the fastest time frames for direct deposits, and the now long sought after CC processing method for CBD. So, for the best in CBD Credit Card Processing Solutions, look no further than right here, Call today to discuss your business and how we can improve your rates and processing experience straight away. 1-800-891-8965