CBD Hemp Oil Payment Processing
Almost every day we see the results of research and speculation about the medicinal benefits of cannabis or more specifically, the CBD hemp oil. Whether people are looking for it for pain management, it’s apparent psychological benefits, increasing appetite or even for cancer treatment, there is an ever increasing demand for it, and because of this, the CBD hemp oil business is growing steadily – in a similar way to the e-cigarette business.
For people who are looking to start up a hemp oil business, it is important that they are aware of the facts before they embark on such a grand project. A CBD hemp oil business isn’t like a lot of others. As a pretty new industry (although thoroughly legal) which has come from a rather taboo area, there are some aspects of running your business which might not be as straightforward as other businesses.
CBD Hemp Oil Business Financial Aspects
There is no disguising of the fact that the legal cannabis industry is doing well and growing. According to Factbook publisher, Cannabusiness Media, last year between $1.6 billion and $1.9 billion of legal medicinal cannabis was sold in the US. They have predicted that by 2018, there will be about $8 billion in revenue of both medicinal and recreational cannabis sold – an upside potential of more than $7 billion.
In addition to figuring out the logistics, processes and legal side of a business, another big issue for those in the CBD hemp business, is the processing of payments.
- Despite the evidence which shows otherwise, the cannabis and CBD hemp oil merchants in general are deemed to be ‘high risk’ by banks and merchant account providers, meaning that businesses will be refused loans, charged high rates and not given CBD hemp oil merchant accounts.
- There are an increasing number of people and businesses who are willing to invest in the hemp industry, helping startups with initial funding as they can see the massive potential in the industry.
- Where a lot of these investors cannot help is in the area of CBD hemp oil payment processing.
- Most people need a merchant account to be able to process payment methods such as credit or debit cards. Without these payment options it is difficult for CBD hemp oil businesses to function.
- To be able to process these sort of payments a lot of CBD hemp oil businesses look for alternative (and less wholesome) methods.
- Most CBD hemp oil businesses want to conduct their business legally and transparently but find it nigh on impossible without compromising their business’s profits and growth potential.
- Luckily, there is a solution – We provide and specialize in CBD hemp oil payment processing, CBD and Hemp merchant accounts and financial advice to all cannabis related businesses.
Hemp and CBD Payment Processing
Here at CBD Merchant Account, we offer payment processing on behalf of these businesses. We have built a strong and trusting relationship with the banks, which enables them, to help us, to help you. It allows CBD hemp oil payment processing in secure and reliable manners, and at low cost, giving your business every chance of making a real go of it, both legally and transparently.
For more information about payment processing for CBD hemp oil or hemp merchant account, call us today at (866) 464-6590. Our professional merchant account specialists are standing by.