The CBD industry is one of the fastest-growing industries on the planet. While the legality of CBD is becoming more widespread, payment processors may still be hesitant to adopt your CBD business.
Key Takeaways You Will Get From This Article
1. Online CBD sales invite the risk of chargebacks, and its current legal status is somewhat of a gray area.
2. There are processors who want to help you sell your CBD online.
3. Electronic Merchant Systems has been helping merchants find the best solutions for your business since 1988.
4. Sixy six percent of CBD sales are online, making it safe to say having a payment processor is necessary.
Selling CBD online is considered high-risk, despite its general use. Online CBD sales invite the risk of chargebacks, and its current legal status is somewhat of a gray area. In fact, PayPal and Stripe are notorious for not accepting online CBD merchants.
But there are processors who want to help you sell your CBD online. Considering 66% of CBD sales are completed online, it’s fair to say that having a payment processor is a necessity.
No need to worry, though. Electronic Merchant Systems (EMS) has been helping merchants like you find the best solutions for your business since 1988.
We’ve been in the industry long enough to know how to navigate payment processing in high-risk industries like online CBD sales, and we want to pass this knowledge on to you.
The following is a list of payment processors at the forefront of this rapidly expanding industry.
Location: Encino, CA
We feel comfortable putting PaymentCloud on this list as they’re one of our partners. PaymentCloud’s bread and butter are finding payment processors for high-risk merchants, so it’s an easy choice for CBD.
PaymentCloud offers third-party gateway capabilities, integrations with retail terminals and online shopping carts, and staying up-to-date on changing legislation.
Location: Irvine, CA
eMerchant Broker (EMB) provides a helpful checklist of items you’ll need to satisfy their CBD merchant application process on their website.
EMB realizes that chargebacks are common with CBD sales, so they’ve installed a chargeback alert system that allows merchants to prevent “one in four” chargebacks.
Location: Boca Raton, FL
Centurion Payment Services is kind to CBD start-ups with no prior history as they receive immediate payment processing.
They claim to provide a “smooth and hassle-free process for every CBD client,” with CBD merchant accounts being approved within three days.
Location: Agoura Hills, CA
Leap Payments claims they can support a wide array of CBD products, including vape oil, creams, topicals, edibles, tinctures, supplements, and pet products.
They offer CBD payment gateways for thousands of platforms and will take on CBD start-ups that don’t have any prior processing history.
Location: Austin, TX
Easypay Direct has plenty of experience with high-risk merchants and will process CBD payments for all major credit cards.
They have a patent-pending load-balancing feature so merchants can process high monthly amounts—all of this with competitive rates and no early termination fees.
Location: West Palm Beach, FL,
We have Paybotic to round out our list. They offer instant-approval loans to high-risk clients, including CBD merchants, ranging from $50,000 to $1,000,0000!
In addition to their generous loans, Paybotic uses rapid approval to get most applicants signed on within just 48 hours.
Location: St Petersburg, FL
Pay Kings has an established network of over 20 acquiring banks to give you the best odds of getting approved for your CBD business.
If you’re selling CBD Oil, Pay Kings has a “fast approval” program that will get your products into online shopping carts in no time.
Hopefully, you’ve spent some time reviewing these companies for your CBD merchant account. You’ll want to ensure you’re working with a company that knows its stuff.
To save you some time, we invite you to ask about our very own CBD Payment Processing program here at Electronic Merchant Systems.
For over 30 years, we’ve actively supported our merchant by remaining a leading processor you can count on.
EMS has stood by its merchant partners, and we plan to continue doing so by processing your CBD products.
With 24/7/365 customer service and a 4.7/5-star rating on Google Reviews from over 1,000 real customers, we’re confident you’ll find a payment solution with us.
To learn more, visit our other article on How To Process CBD Payments Online.
But, if you’re ready to talk about CBD payment processing with one of our experts, click the link below to access our CBD landing page and get your online CBD business off the ground today!