CBD Oil Credit Card Processing

CBD Oil Credit Card Processing

CBD oil may technically be legal in all 50 states as a hemp product, but retailers are still considered very “high risk” due to the nature of the business and CBD variants, especially since CDB oil is often associated with and sold alongside marijuana despite needing to be derived from hemp to be legal and not weed. Marijuana may not be legal in several states, but the gray area makes credit companies wary of supporting them, making it difficult to secure CBD oil credit card processing even. The Southern Institute works hard at making sure CBD oil retailers get the business accounts they need to be able to succeed without the added stress.

Why is CBD oil credit card processing difficult to obtain?

Banks rarely operate exclusively in certain states, instead bring nationwide companies that are easy for most retailers. However, this isn’t ideal for those CBD oil retailers thanks to marijuana being illegal in more than half the states. Because of this, banks are more likely to turn down CBD oil credit card processing accounts. If banks are even the slightest bit suspicious that criminal activity is occurring through a card transaction, they have a legal obligation to report that to governing bodies. .

It makes it easier for them to not have such accounts. Visa, MasterCard, and American Express do not accept transactions for marijuana dispensaries at all. Slowly but surely, times are changing, and new rules are being put in place all the time for credit card processing for CBD oil. The industry is growing thanks to states that have already legalized the sale of marijuana and the demand for CBD oil that seems to help so many.

It makes it easier for them to not have such accounts. Visa, MasterCard, and American Express do not accept transactions for marijuana dispensaries at all. Slowly but surely, times are changing, and new rules are being put in place all the time for credit card processing for CBD oil. The industry is growing thanks to states that have already legalized the sale of marijuana and the demand for CBD oil that seems to help so many.

To get around the lack of credit card processing, CBD oil retailers often offer a cash only payment. This is not something that is always convenient for the customer which then also limits the seller. A CBD oil retailer may find it difficult for business growth due to difficulty finding a merchant account. If you do find a high-risk merchant account, you may be subject to extremely high rates and fees with strict terms that are not beneficial to you. If you don’t like those terms, there often is not any room for negotiating with the company either. It’s a take it or leave it approach.

Don’t risk it

Some may consider making small changes to their risk factor to be able to land an account, but this is not recommended. Making sure your business name does not have any cannabis-related connotations may help, but indicating the type of products you sell and not being completely honest can shut down any standard merchant account you may have without warning but with added fees. It will also make it difficult to find another merchant account thereafter. It can set the business back a bit if you suddenly cannot offer an ideal payment method to the customer.

Why take the risk? Traditional banks are not your only option. It’s about finding the right banks that specialize in the high risk. That’s where we come in. The Southern Institute can help you set up a high-risk merchant account with credit card payment processing CBD oil retailers will appreciate.

Why take the risk? Traditional banks are not your only option. It’s about finding the right banks that specialize in the high risk. That’s where we come in. The Southern Institute can help you set up a high-risk merchant account with credit card payment processing CBD oil retailers will appreciate.

Custom solutions for your CBD oil credit card processing needs

Credit card processing for CBD oil is currently risky for many companies, limiting your customers’ payment options, but The Southern Institute will help you open doors for your CBD oil business’ success. Finding the right merchant account on your own can be very difficult and stressful. Rely on the experts at The Southern Institute, where we specialize in high-risk accounts like CBD oil retailers. We only need a few minutes of your time to be able to understand how you run your CBD oil business and what your goals are for it. We will then determine the best way moving forward with credit card payment processing keeping your business’ best interests in mind. You’ll get a detailed plan with no hidden charges, and if you decide that it isn’t for you, we can try to find another solution. There is no take-it-or-leave-it response.

You’ll also get a dedicated account representative who will see that all of your questions are answered in a way you understand. Rates and fees are usually set higher for the high-risk industry compared to a standard merchant account, but we take every step we can to keep them at a minimum for you, so you get a great rate that is fair and affordable.

You’ll also get a dedicated account representative who will see that all of your questions are answered in a way you understand. Rates and fees are usually set higher for the high-risk industry compared to a standard merchant account, but we take every step we can to keep them at a minimum for you, so you get a great rate that is fair and affordable.

You won’t need to worry about finding the right chargeback solution either. We offer some of the best, most efficient chargeback protection. The Southern Institute also works with ACH and check programs, giving a wide option of payment.

CBD oil credit card payment processing is not just limited in-store. It is absolutely essential for e-commerce. To be able to expand to internet orders, you will need an e-commerce credit card processing for CBD oil. The Southern Institute are specialists in a wide range of electronic payment options for online sales as well. This can really make for business growth potential.

We have over 20 years’ experience in high-risk merchant accounts and in that time, have established strong relationships with both domestic and international banks. We know the appropriate channels to follow when it comes to high-risk industries like CBD oil, so you can be sure an expert is handling your credit card processing needs without any worry. We will deal with everything in an efficient manner while you look after your customers’ needs.

Start offering more to your customers in a way that suits you

Our knowledgeable underwriters know the right steps to help your business be able to offer credit card processing payments CBD oil customers will be glad to have available. Contact us today by filling out the form to get started on creating a merchant account that is specific to you, and get your business growth on the right track.