As more states continue to legalize marijuana for both medical and recreational use, there are more businesses opening up to meet the growing need for CBD products.
While this may seem like a great business opportunity, there are some things that these business owners are struggling with. One of those things is getting a merchant account.
Keep reading to learn about our merchant account solutions for CBD businesses so you can stop searching and start growing your business today.
What is a Merchant Account?
Simply put, a merchant account is a bank account for businesses that allows you to accept credit cards. If your business is strictly online, it's essential to accept cards since there's no way for you to make cash transactions.
Unfortunately, many CBD businesses struggle to get this type of account because the CBD business is considered high-risk. There are two primary reasons for this.
The first reason banks shy away from working with those in the CBD industry is the connection between CBD and TCH. Since products containing tetrahydrocannabinol or TCH are still illegal in most places, banks are afraid to risk working with a company that could be doing something illegal.
Another reason it can be difficult to obtain a merchant account if you're running a CBD business is that it's a new industry. Without a long history of success, banks are taking on a lot of risk by allowing you to open accounts with them.
How CBD Merchant Account Can Help
Here at CBD Merchant Account, we specialize in providing merchant accounts to high-risk businesses, which includes those in the CBD industry. Here are a few reasons why so many have already chosen to work with us.
To help you succeed as a business owner, we made sure we know your industry as well as you do. That means we know what options you need to run your business, whether you sell directly to customers or other businesses.
We have forged relationships with over 20 banks that are willing to work with medium- and high-risk accounts so you can get your account approved as quickly as possible.
Multiple Payment Solutions
Something that helps any business thrive is having various payment options for their customers. This improves customer support and ensures you get paid quickly.
We ensure you can accept credit cards, e-checks, and mobile payments. We also help you protect your business and your customers with chargeback prevention and a secure checkout system.
Some of the other services we provide to CBD businesses include:
- Recurring billing options
- E-commerce cart plugins
- International merchant accounts
We will also provide you with dedicated account managers to ensure you're getting the most out of your account. Together, we can help your business expand until you supersede your goals.
Ready to Get Your CBD Business Merchant Account?
Now you can see the importance of getting an account that's specifically for a high-risk business like yours. As you can see, the solution is as easy as signing up for a merchant account through PayKings.
If you're ready to ensure your business can continue to process payments, get approved today! We typically reply with a quote within six hours, so you don't have to wait any longer to take your business to the next level.