The CBD market is booming as more people become interested in it. Experts predict that CBD sales in the US will grow 107 percent year over year.
You might be thinking about taking your CBD business online. A move to sell CBD in an online shop has plenty of benefits, especially if you have a merchant account.
How does a merchant account benefit an online CBD business? These five reasons should convince you of its usefulness.
1. Sell CBD to Customers Across the Country
Moving your CBD oil business online makes sense because you can reach more customers. Hemp-derived CBD products can be sold across the country, which means someone in New York can buy as easily as someone in LA.
A merchant account makes online operations much smoother for all your customers. In turn, you can keep growing your business.
2. Accept More Types of Payments
A merchant account for CBD business owners helps because it allows you to accept more types of payment. At the brick-and-mortar shop, you might only be able to accept cash payments.
Cash payments don’t work so well over the Internet. A merchant account for CBD businesses lets you accept debit and credit payments.
3. Make Payment More Convenient for Customers
Since you can accept more payment types when you have a merchant account, payment is more convenient for your customers. They don’t need to make sure they have exact cash to pay a delivery driver.
You can accept different types of credit and debit cards. Depending on the merchant account, you may even be able to offer more alternatives. Your customers will appreciate being able to pay the way they want to pay.
4. Protect Your Business and Your Customers
Merchant accounts also offer more protection for business owners. This is particularly important in a high-risk business like selling CBD.
Online businesses are at higher risk of fraud. CBD is also considered an attractive target for fraudsters. While high-risk merchant accounts may cost you, they also help to protect your business and your customers.
The merchant account provider should be able to provide some security features, like data security. They may also offer fraud protection for your customers, which helps keep them safer. Your customers will have peace of mind shopping with you, which makes them more likely to come back to you.
5. Fuel Your Business Growth
With the merchant account provider on your side, you can prepare your business for growth. The account can help you keep better track of inventory and discrepancies, reducing mistakes. Better security helps you keep more on the bottom line.
Integration into your systems means you’ll also spend less time troubleshooting. Instead, you can spend more time delivering outstanding customer service. In turn, you’ll be ready to grow.
It’s Time to Get Growing
If you’re planning to sell CBD in an online shop, then a merchant account is a must-have. Not sure where to find a provider? Talk to the experts to discover the great options available for you.