Cannabis Merchant Account Services, offered by us, are dedicated to all related to cannabis businesses, manufacturers or retailers for Cannabidiol oil (otherwise known as CBD oil), Hemp oil, CBD Cream, Medical Marijuana Dispensaries and many, many more. Cannabis is known to have a number of medicinal effects on the body. Every day we are seeing new research and projections detailing another medicinal benefit of marijuana products, and this is a good indication that the hemp industry in general is going to be huge over the next few years.
Whilst we are currently seeing a surge in companies selling hemp & CBD products, such as vape oil, and CBD oil creams, we are still coming up against a brick wall when it comes to dealing with banks and other financial institutions. It is common for those in the cannabis industry to be labelled ‘high risk’ by these institutions thanks to the fact that it is a new industry and comes with a certain (yet unfair) reputation.
Cannabis Merchant Accounts
A typical merchant account is a business account which is needed for companies to be able to accept online and ‘in-store’ check and card payments. It allows a card payment to be paid into the business merchant account, which is then deposited into the business’s bank account later, as one big payment, if there was more than one transaction.
If a business, however cannot be granted a merchant account (as is the case with most ‘high risk’ businesses) it means that they cannot process card payments. And this is why obtaining dedicated to cannabis merchant account is problematic for a lot of CBD vape oil or hemp related businesses.
What is the Solution?
Well, at present there are three possibilities:
- Set up an underhand method of processing card payments. This is, however, risky, wrong and certainly NOT recommended.
- Don’t accept card payments. If you are a retailer, and sell in person, this might be an option for you. Although it is worth remembering that the more payment options you can give to people, the more likely they are to buy from you. Many CBD or cannabis businesses operate online, and this would be almost impossible without the ability to process card payments.
- Use a company such as us, to obtain your perfectly legal and reliable Cannabis Merchant Account.
CBD Merchant Account Company
For Cannabis related businesses who are wanting to work honestly, transparently and legally, whilst having the opportunity to grow their businesses effectively, the best solution is with a company such as CBD Merchant Account. We work very hard on built up good relationships with financial institutions to be able to help hemp industry and businesses who work with cannabis products to process their payments securely, reliably and completely legally. It means that you don’t have to use underhand tactics and can be completely transparent, whilst allowing your business to grow naturally.
Most people who start hemp or CBD businesses, want to get a piece of the new, exciting and potentially massive market which is the cannabis industry. And thanks to recent changes in the law, they can now do this legally and transparently, in the hope of running it just like any other business. Unfortunately, there are still some hurdles that need to be overcome and one of these is the fact that these businesses are labelled ‘high risk’. However, things are changing, and companies like CBD Merchant Account are here to help.
For more information about cannabis merchant account and payment processing call us today at (866) 464-6590. Our professional merchant account specialist will gladly answer any of your questions related to CBD or Cannabis payment processing.