Navigating CBD Payment Challenges
CBD retailers face unique processing issues since in most cases, banks in the United States refuse service in spite of the legality provided for it under the 2018 Farm Bill. Specialized gateways such as GreenBox and PaymentCloud CBD are using offshore merchant accounts with US routing in order to bypass limitations. The best CBD gateway combines high-risk underwriting with features like the ability to edit batch shipment files to meet the 48-hour deadline of card networks and THC content-check tools. Processors with ACH/eCheck support for transactions in addition to cards—bank transfers are less likely to be declined for the same reason. Stay away from “CBD-friendly” processors that have shady MCC codes—legitimate ones categorize transactions honestly under 5995 (Herbs, Spices, Seeds).
CBD Payment Processing: Documentation, Compliance, and Gateway Requirements
This means the process should be well documented—processors are going to want all COAs (Certificates of Analysis), licenses, and lab reports from the get-go. Make it a point to clearly display lab results on your product pages to minimize “not as described” chargeback activity. Using age verification gates (think Veratad) prior to any customer checkout wouldn’t hurt either, since most processors expect age affirmation for CBD products in the 21-fold or older category. An additional consideration would be to give customers the option of purchasing anonymously through BitPay. Additionally, if subscriptions are involved, make sure your payment gateway is compliant to work with recurring billing—CBD processors typically disallow negative option billing.
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