CBD/hemp oil merchant account
CBD stands for cannabidiol, which is one of the compounds found in cannabis. CBD oil is rising in popularity both in the UK and worldwide. The press widely report on the potential health benefits, but also the possible risks when using CBD products, hence why the sale of the oil is controversial.
CBD card processing
The industry can be a profitable one. However, securing CBD oil merchant processing can be incredibly difficult! Although currently legal, there are very few merchant banks that will accept applications from CBD merchants. The reason for this, understandably, is the huge risk involved. When applying for CBD credit card processing, it’s important to allow up to three weeks before having your account approved. It’s also sensible to expect to pay higher rates and fees.
CBD payment gateway
The majority of CBD and hemp oil products are sold online through ecommerce outlets, therefore securing the correct payment gateway system is imperative. When working in any high-risk sector remaining PCI complaint is paramount to streamline trading. High-risk companies often receive notice from their current card CBD payment processor having failed, to meet compliance standards. Getting it right is important, SPEAK TO US TODAY.CALL US
Securing CBD payment processing
At Merchant Advice Service, we work with companies who legally and ethically source CBD products and we will not work with companies that fall outside of law and compliance guidelines. The following will be assessed when applying with any one of our partners; business location, source of supply, shipping and sales, location restrictions and law of origin and location of intended sale.
At Merchant Advice Service, we partner with experienced experts in both CBD and hemp payment processing. Providing you meet both industry and account provider standards our advisors can help. We work with companies based in the UK and Europe as well as America, our service is free of charge.GET IN TOUCH
CBD same day settlement merchant account
High risk accounts often take longer to settle into your business bank account, due to the nature of the payments and the limited providers available. Merchant Advice Service has an approved partner who will offer the same day settlement, dependant on your monthly turnover. Speak to our advisors to find out more.CALL US
Terminated and declined CBD merchant accounts
From time to time merchant banks change their criteria and attitude to risks. Subsequently CBD merchant accounts and payment gateways can be terminated. Businesses could of had an account approved by PayPal and then received notice quite quickly OR they could have been processing card payments for some time with a bank such as Viva Wallet, who changed their guidelines meaning CBD accounts are no longer acceptable.
Either way companies have other options available to them. For alternative CBD payment gateways and merchant accounts speak to our experts today.SPEAK TO AN EXPERT
Cannabis oil payment processing applications
When making an application to a CBD payment processor, it’s essential that your case is packaged correctly, giving you the highest chance of being accepted. Listed below are examples of what would be expected in a successful CBD oil merchant account applicant;
- Business contact details to include name and address, phone number and email address
- Sales page on website needs to include individual price list
- Delivery information (including time expectations)
- GMP certification (goods manufacturing practice)
- List of active ingredients and suggested serving size
IMPORTANT – cannabis oil merchant card services applications can only be accepted with products that contain less than 0.2% THC. We are unable to assist merchant selling above this level. Speak to our experts in relation to your requirements to find the most suitable cannabis payment solution for your business needs.SPEAK TO US
Card machines for CBD companies
Although finding a credit card machine for a CBD business can be difficult, there are options available to UK based retailers. Our experts will guide you through from application stage to delivery of the terminal. To start your CBD application with a UK based provider, speak to us today.