We provide reliable merchant services for CBD oil and hemp businesses
People who run businesses in the CBD and hemp industry are well aware of some of the challenges which face them day to day. One of these challenges is in the fact that banks and financial institutions will usually label them ‘high risk’,
As the CBD and hemp industry is still in its infancy as a legal industry, there is very little for banks and financial institutions to go one when assessing the suitability of a business for a CBD merchant account. This coupled with the general reputation of the CBD and hemp products industry, means that it is highly likely that these kind of companies will be labelled as ‘high risk’ and therefore denied merchant services for CBD oil or any Hemp related business.
Consequences of being a ‘High Risk’ Business
The consequences of running a business labelled as ‘high risk’ can be destabilizing at best, and disastrous at worst for a company. Being denied a merchant account means that, for example, your CBD ecommerce website wouldn’t be able to process credit or debit card online transactions, or will face much higher charges as you are presenting a bigger risk in the eyes of the bank or financial institution. You need reliable merchant services for CBD oil if you wish to run CBD oil business, and we can help you with that!
Next step – Obtaining CBD Merchant Account
A merchant account works as a kind of holding account. When a customer makes a card payment, the money is deposited into the merchant account. Over an amount of time, the card payment money will go into this account and then a lump sum will then be deposited into the business’s normal account – without a merchant account, it is impossible to process these card payments, and that mechanism apply to all kind of businesses include whole Hemp related industry. Therefore, obtaining specific merchant services for CBD oil or Hemp is necessity for any related business.
Overcoming the ‘High Risk’ Problem
This can be a serious problem for those who work in the CBD and hemp industry as a lot of their business is conducted by either mail order or online, so the inability to process card payments can be crippling. This has led in the past to businesses conducting themselves in a shady manner, looking for loopholes or ways around the problem. Hiding behind fake websites, for example, has been fairly commonplace in the past in order to obtain merchant services for CBD oil or Cannabis online distributors.
We know that most CBD and hemp business owners want to conduct themselves transparently, honestly, and within the law, rules and regulations, and this simple fact has made it nigh on impossible for them to do so whilst trying to make a profit and grow their businesses;
However, there is a solution. CBD Merchant Account Company specialize in merchant services for CBD oil and Hemp distributors. We are helping the CBD and hemp industry to process card payments safely and securely. We have worked to build strong relationships with banks to enable them to help us to help businesses and help them to grow, just like any other business, completely transparently and within the law. CBD Merchant Account means that any CBD or hemp company now has similar chances of success as any other business, as well as beginning to raise the reputation of the industry as a whole.
Running a hemp company isn’t always easy, but there are ways to face the challenges which are presented. CBD Merchant Account is a great way to allow businesses to process card payments, helping individual businesses to grow as well as the industry as a whole.
Call us now at (866) 464-6590 and apply for merchant services for CBD Oil, CBD manufacturing or distribution business. Check out what we can do for your business, get in touch with us today!