Kratom merchant accounts is an all-in-one solution to accept, process payments online or in your mobile app — from small business to large wholesalers and distributors. To be eligible for a high volume merchant account, businesses must process at least $100,000 per month. Some of the features of your CBD merchant account may include: Multi-bank processing (including off-shore) No. PayKings focuses on customizing your banking solution and making sure you have the lowest rates possible. These are NOT the cannabis plants grown for marijuana and hashish. You will need to integrate a third-party CBD merchant account into your online store. ACH Payment Processing; Chargeback Prevention Tips;. In addition to higher processing rates, CBD merchants may all see increased chargeback fees, PCI compliance fees, early termination fees, and even merchant account reserve withholdings. Merchant processing is a must for any CBD business. But proponents claim it can have significant health benefits. 1. Many people think that faster is better, but that's not necessarily true. CBD merchant processing has been a revolving door of bank solutions that first say. 877. 7. FREE Cost Comparison. big news is Square’s CBD program expanding to accept more merchants. For example, you must have an e-commerce website, an. Level 1 PCI compliant payment gateway. Since its founding in 1997, High Risk Pay has become one of the industry’s firms with the most rapid expansion. PaymentCloud offers third-party gateway capabilities, integrations with. We specialize in compliant processing for CBD, D8, D9, D10, Hemp, Kratom & PIN-based debit cannabis sales. Online payment processors fall into two categories: With direct processors (a. Like most high-risk merchant account providers, PaymentCloud is not a direct processor. If you are looking for CBD Merchant Processing, MobiusPay is the top place to start, as they now offer this service. The exact process varies from one merchant processor to the next. I am not going to remove them, so looking for a good, fair, processor t. Pretty standard application process, but they can get you up and running pretty quickly. 1. Hemp Oil Tinctures Our esteemed banking relationships have been carefully developed over time. Choose the right system to meet your needs. Delivery is allowed as dictated by local and state laws. High Risk Merchant Account Instant Approval; About us; Rates & Fees; Contact Us (800) 956-1277. 2% THC. We are giving CBD + Hemp based companies are really seamless and cost effective way to process credit cards. Get Approved for a CBD Business Account Today! GET APPROVED QUICKLY GET STARTED 99% of applicants obtained high-risk business accounts HIGH APPROVAL. In 2020, the number of shoppers that shopped through Shopify increased by 52% from 2019. Electronic checks also process quickly. Companies must also. Because the CBD industry is relatively new, it may be prone to fraudulent business activities and frequent chargebacks. 4 Best for Ingestible CBD Products: Easy Pay Direct. 5% + $0. Moonlight Payments is our recommended choice for CBD merchant account services, with its industry-focused features, integrated solutions, and commitment to legal compliance within the CBD sector. We make the pre-approval process as simple as possible. 3. High risk processors understand the subtleties involved with opening a bank account for businesses in unique verticals. The Merchant Category Code is a four-digit number used to identify the business category of a merchant. Transaction fee: 4. Charlotte's Web products may help with marketing and increasing sales. Find a dropshipping supplier The Importance of Partnering with a Seasoned CBD Payment Processor With greater acceptance of CBD products in the marketplace, they’ve been able to get thousands of CBD payment gateways approved. Card-not-present transactions. Instabill also requires a six-month rolling reserve from each merchant. 2. In an industry that's still fighting for widespread legalization, not everything is easy to acquire. An ISO is basically a third-party payment processing company authorized to handle the daily activities of. Easy Pay Direct: Best For Transparent Pricing & A Domestic Merchant Account. Banks underwrite and. Bankcard is a CBD payment processor that provides CBD merchants with premium high-risk merchant services. 840. Prior to applying for merchant accounts, you should ensure they have several months of good processing histories and few chargebacks. Farm Bill legalized the cultivation and sale of hemp and hemp-derived products with THC levels under 0. Created for CBD e-commerce and retail merchants. Before we get started, let’s take a look at some frequently asked questions. This is great until you start processing and they realize what you are selling. This company specializes in placing high-risk businesses – including those in the CBD industry. The best CBD payment processor helps you get approved fast for your CBD merchant account. With Limelight, it enables users to increase the approval rate of credit cards and track their orders as well as control returns. In late September of 2019, EMB became a Shopify approved payment processor. Service providers will continuously update their software to ensure your online CBD store is operating at lightning-fast speeds. Opening a Bankcard International CBD merchant. The service is powered by Tranzlytics and is well regarded for their wide range of services. They offer tailor-made processing solutions to fit your individual business needs. Summary: Although CBD was completely legalized in 2018 with the U. 75% rate comparable to a low-risk merchant account. Each industry has valuable tips on how to minimize the risks associated with their online payment process. 3-5 business day approval process after your approved paperwork is complete and submitted. Discussing CBD Payment Processing & Merchant Acco…With its free virtual terminal that enables businesses to track CBD sales easily, PaymentCloud has one of the highest approval ratings of all CBD merchant. This means merchants in the field can’t secure payment processing for CBD businesses easily. Merchant Funding. Our payment processing services offer fraud protection to secure your account and your cardholder’s data. It doesn’t offer users the same high. This helps the bank decide just how much financial risk is associated with your business. After that, you need to wait for account approval. However, most banks and processors still do not allow CBD merchants on their platforms. A Shopify CBD payment processor gives you the ability to accept payments online. Lastly, you need a trusted CBD manufacturer or supplier, especially if you opt for dropshipping and plan to market your products. Square CBD is a legitimate payment processor for CBD businesses. A payment processor that specializes in high risk verticals has rare banking relationships that allow them to accept higher risk businesses such as CBD merchants. Accept Payments. Reach out to a Payments Advisor at 1-877-843-5690 or. L. S. . Unlike most high-risk suppliers, it does not charge an application or account setup fee. Its free virtual terminal allows business owners to track CBD sales easily. Cova Software:. Square’s pricing is always transparent. 2 Best for External CBD Products: PaymentCloud. CBD payment processors are merchant service providers that allow businesses to accept credit and debit card payments for CBD products. S. 2. Absolute Nature CBD is a highly recommended supplier with lab-tested, non-GMO products made in the US and no minimum order requirements. CBD, or cannabidiol, is an element of the cannabis plant that does not get you high like THC. They currently offer the following for cannabis companies: True pin Debit; AHC and eCheck. Best for Cannabis & Hemp Payment Processing: Canna Group LLC. Our offerings include a reliable, affordable, and safe credit card processing along with ACH. Three months of bank statements. Regulated products cannot contain more than (0. This is the same kind of merchant account that a high-risk merchant uses, except that it has been approved to sell products derived from CBD and hemp. The higher your credit score is, the greater your chances of approval. This requires that CBD businesses set up a CBD merchant account specifically for the. Staying on top of any requests for supporting documents. High Transaction Volume. Instabill. 1. Each payment processing portal you consider will be a bit unique. With its free virtual terminal that enables businesses to track CBD sales easily, PaymentCloud has one of the highest approval ratings of all CBD merchant processing solutions. to support Hemp CBD Payment Processing. With our kratom credit card processing solution, it’s finally possible to accept payments for kratom vendors and cbd with a domestic U. However, like other high-risk businesses, CBD merchants have to undergo a. Vape, Glass, CBD and Kratom Approved. Tap, dip, or swipe transactions. Cannabis, CBD Oil, Delta Eight (Delta 8), Delta Nine, Delta Eleven, Marijuana Merchant Service has a streamlined the credit card processor application and approval process. If you’re serious about growing your CBD vapor business and establishing a lasting payment processing solution, contact us today. Payment Gateway Processor: When To Use One For Your Business. CBD Merchant Processing Providers Businesses that are considered high risk have to know who the right CBD merchant processing providers are. Tetrahydrocannabinol (THC) is a psychoactive compound and. com to get approved for CBD merchant accounts without challenges. CBD Merchant Service was established to provide real payment processing solutions for real businesses involved in selling CBD and hemp products. That includes your CBD high risk merchant account and your business insurance. With this being said, rates are subject to change as this program is still in beta testing. The best rates for CBD credit card processing in the USA and Canada. If you’re selling hemp derived CBD online, you need a payment processor that knows your business type and follows the industry’s progress. PayDiverse offers CBD payment processing at the lowest industry rates & has multiple banks that accept CBD merchant accounts. Host Merchant Services: Best for Interchange-Plus Pricing. PayDiverse offers CBD payment processing at the lowest industry rates & has multiple banks that accept CBD merchant accounts. However, you’ll run a lower risk of account freezes and holds. Auto transport merchant account and consulting services. The types of businesses approved for merchant services can vary between the different merchant-acquiring banks. Fees. Delta-8 THC is found in small percentages in most strains of the cannabis plant. I'll also give a positive shout out to Emerchant Broker (EMB) for doing an awesome job of helping CBD sellers. Keep in mind that Shopify has only opened this up for US-based. In late September of 2019, EMB became a Shopify approved payment processor. eMerchant Broker: Best for High Approval Rate. “BigCommerce Goes Green“. We utilize a variety of processing techniques to ensure that your CBD merchant processing is a smooth and simple process. 101—10231. 4729 or fill out a contact form to get in touch with our sales team to learn more about our MERCHANT CASH ADVANCE and other payment solutions. Find a dropshipping supplier. EPP Merchant: Applicable Tenure: Onetime Processing fee: Jumbo Electronics: 3, 6, 12, 24 months: 1. Here are a few of the merchant processors that currently allow for CBD product sales along with a brief description of what customers have to say: DigiPay Solutions: DigiPay Solutions specializes in high risk industry transactions. Then connect your store to your CBD dropshipping supplier’s system and boom. A CBD merchant account is a merchant account designed for CBD sellers and businesses. Bank statements will likely be requested (again, prepare at least three to six months’ worth). The BC Liquor Distribution Branch (LDB), under the brand BC Cannabis Stores, only sells non-medical cannabis produced by licensed producers approved by Health Canada. It doesn't have to be. Payment processing, and in particular credit and debit card processing, can be challenging for CBD, headshop, and dispensary business owners. Approval Timeline For CBD Merchant Account. Offering secure payments at your dispensary is essential. Give us a call at (800) 993-6300 or fill out the contact form below to get your CBD vape merchant account approval process started. Lightfire Merchant Services is a Premium Merchant Services Provider specializing in servicing those within the E-Cigarette/Vape/CBD industry. Easy Pay Direct: Best for Scaling High-Risk Businesses. Defend your business against uncharted fraudulent activity and chargebacks. What Is An Approved CBD Merchant Processor? If you sell CBD products online, finding a processing company that is approved for CBD transactions can be a challenge. No application, annual, or set up fees. net account. Despite the challenges the CBD industry faces when accessing payment processing solutions, FLEX Payment Solutions has committed itself to help you overcome these hurdles. Considering the whopping figure, any merchant would want to take advantage of this profitable market. 1. CBD Legalization in the United States. In order to accept credit card payments for CBD, you must open a merchant account. Get your Shopify CBD online store off the ground with a CBD Merchant account and. We provide secure payment gateways (shopify, woocommerce, etc), ach & credit card processing. Speak with an expert: (877)-715-4501. (516) 217-1989We’ve simplified CBD merchant accounts & payment processing. S. Yes, you can sell CBD in all 50 states on Shopify. PaymentCloud is also one of the top rated merchant services providers in the credit card processing. We do everything we can to make the application process simple, easy, and painless. Voided check or bank letter. Say goodbye to overseas credit card merchants and bitcoin merchant accounts for kratom purchases! We believe that U. We are a CBD processor who works on making customers happy and we support multiple payment options such as credit cards, debit cards, and ACH. Farm Bill, its association with the cannabis industry at large causes it to be seen as high risk in the eyes of conventional payment processors. Jake W CBD Minimal. Through our business solutions network, we were introduced to the CBD. Since the obligation is between the acquiring. ECS’s services and solutions include: Credit card processing. There are things to do to avoid your CBD Merchant Account being shut down by the credit card processor and the banks. Durango Merchant Services: Best For Offshore Merchants. 3-5 business day approval process after your approved paperwork is complete and submitted. Merchant account providers, such as ourselves, specialise in finding a solution for your industry. Selling CBD is perfectly legal in the United States. Generally, the approval timeline for a CBD merchant account with QuadraPay is as follows:A CBD merchant account is a merchant account that’s been specifically approved for use in selling some or all types of CBD products. 6% + 10 cents for every tap, dip, or card swipe that happens in person. SMB Global: Best for Ultra High-Risk Merchants. Fax: (818) 741-2252. Limelight is a perfect choice for predicting your promising earnings and plug into your fulfillment houses. Headquartered in California since 2010, PaymentCloud is a merchant account provider for low, medium, and high-risk businesses, now offering services for CBD sellers. Instant approval hardly means instant for high-risk merchant accounts. 3 percent THC level or less. 3% CBD Approval Rate. We provide Smoke Shop Merchant Accounts credit card processing with Free POS and 2. Trustpilot. Accept payments for CBD products with a CBD payment gateway → 100% approval rate Expert risk management 24/7 support - Grow your business. It can. Here are. Welcome to The CBD Processors! We appreciate your visit and are very excited to present to you the premium merchant processing service for the entire hemp industry. However, acquiring banks and other financial institutions classify CBD products as high risk. The main reasons that Stripe does not accept CBD/Delta 8 are as follows: 1) Legal Restrictions: CBD and Delta 8 are heavily regulated, making credit card transactions risky for banks and processors. Currently, PaymentCloud is our top recommendation for talking card payments as a hemp business. Accessed March 1, 2023. iPayTotal may be less appealing to very young businesses because of the $1,500 minimum weekly sales requirement. Begin accepting credit and debit cards for CBD products today by filling out EMB’s simple online application. S. You pay 2. com is one of the leading High Risk Merchant Account providers of credit card processing & payment gateways to businesses with bad credit. S. We saw this as an opportunity to make our tools available to sellers in the CBD space so they can start, run, and grow their business on Square. Now CBD is categorized as a high risk company regardless of what kind of CBD products you bring in your online store. 5% + 10¢. 4. You must choose and set up a third-party payment gateway that supports the sale of hemp and hemp-derived CBD products. True PIN Debit (NOT Cashless ATM) and eCheck services that are 100% compliant and transparent. The company’s products and services include point-of-sale solutions, online marketing tools, an online payment gateway and virtual terminal, mobile credit card processing, and merchant cash advance. With fewer requirements and fewer steps, we approval CBD merchant account as quick as. E-Cigarette/Vape/CBD Business Whether you are a start-up business looking to make your mark in the industry or a wholesaler that is already processing large volumes, LightFire Merchant Services is the. After spending months looking at options that were not even as good as what we got with CBD Card Processing, we were approved for a domestic card processor within 1. Less chance of mistakes and discrepancies. S. Our CBD merchant services cover. Best for international merchants. Most of all, you need a HIGH RISK MERCHANT ACCOUNT provider that provides stable solutions and great rates. Best CBD Merchant Account Provider: Moonlight Payments. High Risk Pay has got you covered. Applications take an average of 15 days for approval. National Processing: Best For Clover Processing Hardware. This entails filling out a general form, then adding details to a more thorough merchant application. business checking account is one of the requirements to open a high-risk merchant account. Clover POS: Best For Sophisticated Processing Hardware. A CBD merchant account refers to a merchant account specifically designed to accept and manage electronic payments for all kinds of CBD products. Give us a call at (800) 993-6300 or fill out the contact form below to get your CBD merchant account approval process started. An approved CBD merchant processor; A sales tax license; Can you dropship CBD on Shopify? Shopify is by far the #1 Ecommerce platform on the market. Start your search for dispensary POS software with feature-rich software, including: 1. However, constraints usually come from the payment processors. Before 2018, it was commonplace for U. We provide your business with a way of managing and caring out large transactions. eMerchantBroker boasts an A+ BBB rating and can be trusted for all your CBD high risk credit processing needs. When applying for a CBD merchant account, it’s crucial to ensure that the payment processor thoroughly underwrites new accounts and performs enhanced due diligence. Our CBD Program fees are slightly different than our traditional processing fees. Once a CBD or Hemp company is approved, payment processors set monthly processing limits for new businesses, typically between $25,000 and $50,000 per month, for the first three-to-six-months. Partnering with AllayPay ensures: Ongoing full-service support responds to all your questions and any processing concerns. 3. We would like to show you a description here but the site won’t allow us. Since we serve lots of high risk merchants or people who need to open merchant accounts for bad credit, we know how to get results fast. to ensure. Although they’re not originally a high risk merchant service provider, Square Payments stepped up their game in 2019 by accepting business with CBD and hemp merchants. To help you on this journey, we've compiled a list of seven qualities you should look for in a. Once you receive approval for a CBD merchant account, your payment processor will send your processing hardware and equipment and get you integrated. At Signature Payments, we provide custom accounts for your business. Banks underwrite and subcategorize CBD. Have you heard about a CBD store available in your area? CBD is used to address anxiety and for patients suffering from the misery of insomnia. Subscription-based companies that. Here are our picks for the best credit card processors for small businesses: National Processing: Best For Low-Cost ACH/eCheck Processing. You can run in any country you want to work with and register with them to allow you to work with their. 3% more THC. Our payment processing services offer fraud protection to secure your account and your cardholder’s data. CBD merchants who sell hemp-derived CBD products at less than 0. 4. Here at The CBD Processors, we have years of experience in merchant processing and POS equipment. Bank statements will likely be requested (again, prepare at least three to six months’ worth). A CBD merchant account allows for the uninterrupted acceptance of non-cash payments for the sales of CBD OIL and Cannabis related products. To sum it up, here are the 4 best Cbd merchant service providers: National processing – Best for businesses that want low fees and those that have Clover terminals. PayKings understands the unique needs of different CBD Oil related businesses and has established 24+ acquiring banking relationships to become the experts we are in getting CBD Oil merchant accounts accepting online payments. ECS’s services and solutions include: Credit card processing. Why Exactly are the Payment Services Refusing to Accept CBD Transactions? The CBD industry accounted for $2 billion in 2018 1. CBD businesses are classified as high-risk, so most of the popular merchant account providers are not willing to work with CBD based businesses. Compatible with major shopping carts: WooCommerce, Shopify, Magento, Ecwid, etc. 8. S. High Risk Pay – High Risk Merchant Account. Nick B. Payment processing, and in particular credit and debit card processing, can be challenging for CBD, headshop, and dispensary business owners. This will often mean going through and contacting various high-risk payment processors. Getting Started: How to Sell Credit Card Processing and Merchant Services. APPLY. 9% + 30 cents for cards or 1% with a minimum $1 per transaction for ACH bank transfers (invoices only), and 3. Here are the general requirements that we will be looking for. Accept payments in your business via credit cards, online, or mobile options. Moreover, they share all of the details and legal regulations around payment processing in. About Us; Services. Unlike other types of merchant accounts, CBD merchants must undergo heightened due diligence. Here are the types of businesses that can benefit from a high-risk merchant account. Products Approved: Hemp-Derived Flower, CBD Oils & Tinctures (Human), CBD Oils & Tinctures (Pets), CBD Topical. Helping merchants understand the problems they face so they can be approved for high risk merchant processing. Whether a brick-and-mortar storefront or e-commerce establishment, we offer custom and scalable CBD and hemp payment. She said that two other companies approved her business, but the rates were either “outrageous” or getting them set up could take at least three. merchant solution. The Importance of a Thorough Merchant Account Approval Process. Lastly, you need a trusted CBD manufacturer or supplier, especially if you opt for dropshipping and plan to market your. They provide offshore merchant accounts in addition to high-risk merchant accounts, which are their areas of expertise. Just make sure to follow FDA regulations to ensure your CBD business is approved for a merchant account to sell. . At the end of the day, getting approved for a high-risk CBD merchant account will boil down to how prepared you are when applying for one. Take payments online, in-person, swipe, dip, emv. Signing up with the best CBD merchant processing company from day one saves you the time and frustration of getting shut down by. Mon - Fri: 9:00 am - 5:00 pmHemp is federally legal in the U. What Is An Approved CBD Merchant Processor? If you sell CBD products online, finding a processing company that is approved for CBD transactions can be a challenge. This happened because the DEA in 2017 listed kratom as a “Drug of Concern” and most financial services companies cut ties with these businesses. PaymentCloud is a top recommended credit card processor for kratom businesses. Shift4 is already integrated into Shift4Shop, so you can get up and running right away. Even CBD, which was descheduled under the 2018 Farm Bill, has had its difficulty securing merchant. These funds are available in regular merchant accounts within two business days, but high-risk merchant accounts may have longer wait times. 8% + $0. Merchant accounts are generally established under an agreement between a merchant and an accepting merchant getting bank for the settlement of credit or debit card transactions on their. A CBD merchant account is essential for any CBD merchant. Read on for everything you need to know about high-risk processing. ” Which, while it may look like a great selling point for the merchants’ CBD Shop UK , it backfired heavily. Finding a merchant account for CBD payment processing may take some effort, but it is possible to find a provider that can meet the unique needs of a CBD business. Accepts domestic & international cannabis merchants. Echeck Processing is available for next day setup!. Whether you sell vapes, supplements, or anything in between, Shift4 is the perfect payment solution for businesses in high-risk industries. High Risk Pay offers high-risk merchant accounts and payment gateway solutions to businesses from all verticals. Supported industries: Firearms, vape shops, real estate, gambling. As a result, many banks, payment gateways, and payment processing companies categorize CBD sales as high-risk transactions and don’t support them. PaymentCloud is a top recommended credit card processor for kratom businesses. Therefore, alternative payment processors such as. CBD Merchant Account; Continuity Subscription Merchant Account;. What Is An Approved CBD Merchant Processor? Transform your business with a specialized CBD merchant account – allowing you to accept credit card payments and get express authorization from the service provider for selling hemp-derived goods. Most tier-one banks and payment processors will consider CBD a high-risk industry, which can make it difficult to obtain a merchant account to sell CBD online, especially if you sell directly from your own site. 98%. First and foremost, you need a processor that securely handles high-risk merchant transactions. PayKings focuses on customizing your banking solution and making sure you have the lowest rates possible. Our team of experts specializes in high risk merchant accounts, such as CBD oil merchant accounts. With its free virtual terminal that enables businesses to track CBD sales easily, PaymentCloud has one of the highest approval ratings of all CBD merchant processing solutions. National Processing: Best For Clover Processing Hardware. The key lies in finding the right partner for CBD credit card processing. This entails filling out the general form, then adding details in a more thorough merchant application. We specialzie in CBD & High Risk Processing. Our processing techniques and account features exist to ensure that merchants selling delta-8 THC and other cannabis products face minimal risks when it comes to processing credit or debit card payments. To get a Shopify CBD account, you’ll have to go through three different processes. S. Merchants with recurring annual or monthly fees. How To Apply for CBD Merchant Account. Our CBD merchant services cover Cannabidiol, Hemp & CBD Oil considered high-risk merchants. 2110) allows grower/processors to obtain hemp only from a person holding a permit issued by the Department of Agriculture to grow hemp. If you are a CBD e-commerce or retail business we offer payment processing and so much more! From risk management and regulatory oversight, to rich customer analytics and chargeback prevention, find out why DigiPay is the best partner for your CBD business. Property management companies processing monthly rental payments. 25% - 6. CBD businesses can get approved in as fast as one day. We offer a quick and painless approval process. 8. – We also offer high-risk Woocommerce merchant accounts here. etc. Fill Out an Online Form. If a product has been added that has a higher THC level greater than . 9. It is our mission to help our local businesses find processing solutions which will maximize the benefits and minimize the costs associated with electronic payments. Working with a reliable processor makes both you and your customer feel safe. Individuals interested in selling merchant services will want to become an Independent Sales Organization, otherwise known as an ISO. Supported industries: Adult services, CBD, online dating, vape sales. For many CBD business owners, this is a welcome development. PaymentCloud is a registered ISO/MSP of BMO Harris Bank, Chesapeake. In late 2018, the U. Table of Contents About cbd merchant processing shopify CBD Friendly Payment Processors (High Risk Payment Processing providers). However, Shopify currently only supports the hemp and CBD market in the US (maybe Canada), so for now, you can only have a Shopify CBD business in this market. Corepay: Best For Mail Order/Telephone Order Businesses. Zenti’s high-risk merchant account for CBD sales gets you set up and accepting payments online or in-store fast and easy. Corepay offers the following for CBD merchants: Fast CBD account approvals with 24-72 hours. GoCardless Review - January 10, 2023. . Our average approval time is less than 48 business hours!Rating: Excellent. Total set-up time is 15 days. The purchase of HighriskPay by Unsafe shows that the CBD market is gaining popularity. 1. 3. However, due to the risks and regulations associated with the CBD industry, entrepreneurs will find that doing so for this particular business presents a new set of challenges. Advanced chargeback protection programs. Give us a call at (800) 993-6300 or fill out the contact form below to get your CBD vape merchant account approval process started. Some merchant processors have accepted that CBD is here to stay, and are now allowing transactions on CBD products both online and in-person. (As as long as it doesn't contain more than 0. Pinpoint Payments values your business and helps protect it: Industry-leading fraud prevention Real-time chargeback management “High-risk” merchant accounts . Shopify currently recommends two CBD payment processors - DigiPay and Sezzle. The CBD Processing – CBD Merchant Account Approval HAVING TROUBLE GETTING A CBD MERCHANT ACCOUNT? We Can Get Your CBD Merchant Account Approved!. Set up complete ACH and eCheck payment options to accept and initiate direct deposits. Note Code 06 is currently unused but is reserved for future use. Purchasing CBD online or in-person for that matter is generally considered an even higher risk proposition even. You must have minimum weekly sales of at least $1,500 and a short of selling CBD. Credit card payments are deposited through ACH directly into the account. They might take you on at. In need of a merchant credit card processor for my online ecommerce store where we sell Full Spectrum Hemp Extracted Cannabinoids: (CBD, CBG, CBDA). A standard retail "swipe" merchant account does not allow processing of these "card-not-present". Depending on the business’ industry, the history of the business or its owner, these can affect a merchant requires a high-risk merchant account in order to operate. To get a merchant account, one must submit an application with a merchant account provider. Merchants using Shopify Plus can contact the Merchant Success team for guidance and dedicated support in completing the steps required to sell hemp or hemp-derived CBD products on Shopify. Best for Cannabis & Hemp Payment Processing: Canna Group LLC. 3. We also provide alternatives for CBD merchants looking for a merchant account! 1-800-988-2215. The loan amount can be as high as $250,000 and as low as $300.