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The Ultimate 2020 Guide to Understand CBD Payment Processors

Published July 13th, 2020 by CBD Merchant Account

Because cannabidiol (CBD) is a compound that helps people with health and relaxation, a lot of people are choosing to get into the business. 

However, you should pump your brakes if you think that you are going to just set up a website and watch the money rake in. You need to link up with a payment processor so that you can actually legally make sales. 

Finding a CBD processor is a bit different than finding a payment processor for other types of businesses. The tips below will help you get started and find what you need. 

Read on so that you can learn about working with and finding a CBD payment processor. 

Keep in Mind That CBD is Considered a High-Risk Business

When you're searching for CBD merchant accounts, you need to choose those that take on high-risk clients. 

Even though CBD is legal in most areas, it is still part of the cannabis plant and associated with the cannabis industry. As such, it's considered a high-risk product. 

Some other high-risk businesses include sex toys, adult content, firearms, gambling, tobacco, and online pharmaceuticals. 

Your payment processor will specifically let you know if they take on CBD clients, so find this out in advance.

Make Sure the Processor Easily Integrates Into Your Site and Platforms 

Ease of use is hugely important if you want to take on CBD payments. Finding a payment processor that lets you plug and play will optimize your website and help you get started sooner. 

When you work with websites like 3D Cart or Shopify, they'll have plenty of information on which processors take on CBD businesses. From there, you can easily integrate them into your website without having to know a lot about coding or technology. 

Figure Out Which Contract Best Suits You

You should also shop around to figure out which processors suit your needs and your budget. Most importantly, figure out what fees and rates they charge per transaction. 

You'll want a company that you can lean on, but you should also make sure that their rates are fair. This lets you take in more revenue and lets you know whether they're the right business for you. 

When at all possible, take these processors on with a month-to-month contract. They will usually have a trial as well, so you can figure out whether their service suits you.

Try out the features and bells and whistles, and figure out what kind of customer service support they offer.

Always choose a company that you can get in touch with whenever you are having issues or if a charge doesn't go through. 

Get a Payment Processor For Your CBD Business 

A CBD payment processor is a necessity so that your business can take in revenue. They are the professionals that will help you bridge the gap and earn a living selling people high-quality CBD products. 

We would love to teach you more about merchant accounts and selling CBD online. 

Fill out our online form to request a call, or give us a call at 1-(866)464-6590.

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