Cannabidiol (CBD) is one of the most popular new alternative health substances available on earth. Derived from Hemp or Cannabis, CBD offers a wide range of benefits that has caused it to gain popularity across all walks of life for a large variety of different reasons. What it is used for is extensive and the list is growing.
But for businesses who produce or sell CBD, there are certain restrictions to the way in which it can be marketed set by Health Canada (our nation’s equivalent of the United States FDA). Let’s take a look at what CBD is used for and also what restrictions for its sale are in place.
What is CBD Used for?
Canada CBD Credit Card Processing
The science on CBD’s efficacy for a large number of ailments is growing every year. What it is mainly used for is:
- Anti-inflammatory
- Pain relief
- Sleep Aid
- Hunger Aid
- Anti-anxiety / depression
- Skin Care
- Muscle Stiffness
- and more
The list is ever-growing and more and more people are taking advantage of the huge number of benefits that Cannabis and CBD-based products can deliver.
Many people have been able to reduce or eliminate their use of traditional pain reliever and other addictive pain medications too readily doled out by doctors. There is a real public health risk to overprescribing addictive narcotics like opiates. CBD is a great option for those experiencing chronic pain and inflammation from things like arthritis or injury.
What does Health Canada Say about CBD?
This is where you need to pay close attention if you sell CBD or are interested in starting. Health Canada is very clear, CBD is legal, but it is not legal to be sold as a medicinal substance, medicine, or treatment. Health Canada has not yet completed its own research on the safety and efficacy of CBD for a wide range of acute and chronic conditions. This means they haven’t made a determination one way or another on these grounds.
What they have stated, and this is an important point, is that sellers and wholesalers of CBD cannot make specific health claims regarding the consumption of use of CBD. So, you can’t go around making the claims that are visible throughout social media and USA companies where it is essentially the wild west.
Whereas United States sellers can get away with saying, “CBD treats things like ailment A, B, C, D, and more.”, Health Canada does not allow such claims. They are very clear in their wording that the marketing of CBD cannot contain unproven or unverified medicinal benefits or direction. In other words, CBD cannot be sold as the “cure-all” that we see many USA retailers claiming online and in physical stores..
Selling CBD is Unregulated
Because of its unregulated nature, CBD can be sold on its own but not with any claims of health benefits or medicinal purposes. If you make claims such as “CBD cures ailment A“, then you can face an investigation and even be shut down by the authorities at Health Canada. This is done not to prevent a growing industry from expanding but to keep people protected and businesses in check.
See why Cannabis Accessory and CBD Touchless Payment Options make a huge difference for the way businesses take sales in 2021.
The Cannabis Difference
You may be reading this and thinking that “Marijuana is legal for medicinal and recreational use here in Canada, so that must mean CBD has the same legal standing.” That just isn’t true. The research and science behind the medicinal value of Cannabis are very high with years and decades of research proving its value for a large number of reasons. Because CBD is so new to the marketplace that same level of research has not yet been conducted. Therefore, despite overwhelming evidence that CBD is safe and effective for many different reasons, it has not been independently verified by Health Canada’s own research teams.
It is incorrect to assume that because Cannabis is completely legal the way in which related products can be marketed follows under the Cannabis specific regulations. For Cannabis the rules are spelled out but for CBD they are not yet. This means you can’t say whatever you want or heard on the internet regarding Cannabidiol uses.
CBD Credit Card Processing
If you sell CBD or are looking to get started you’ll need to be set up with a merchant service provider to run your credit and debit card sales. Cash is a dying legacy currency as people move away from physical transactions and towards touchless payments. With the global pandemic, those payment options are more important than ever before. This means offering these options to your customers, whether they are making a purchase online or in-store.
No longer are CBD or Cannabis companies deemed “high-risk” by banks and credit card processing companies. So if you’re just getting started or are paying ridiculous processing rates on your current Cannabis or CBD sales, you should be looking to switch merchant providers.
Today CBD is just like any other product and you should enjoy the same rates and time frames for direct deposit as any other business. For the best in Canada CBD Credit Card Processing, look no further than over 10 years of local expertise here at Brother Processing. We are proud investors in the Cannabis industry and work with every client individually. We are not an agency of thousands of people where no one knows your name. Call Stuart to chat about how we can help your businesses bottom life and speed of payment delivery
