CBD Payment Processing Landscape
Much to most Americans, banks will continue seeing CBD as high-risk even after the passing of the 2018 Farm Bill, which legalized it. Thus, merchants would have to turn to specialized processors. Companies such as PaymentCloud CBD and GreenBox approve businesses within the same day, provided they comply with their regulations (provide lab reports and no claims of THC). PaySpacelv offers them offshore solutions but charges higher percentages of about five to seven percent. ACH-centric gateways like NMI (one to two business days) will give you the fastest approvals, but you will need customers to verify their bank accounts. Cryptocurrency options (BitPay, Coinbase Commerce) can also be used, but it will mean you’re limited in your scope. The main things you’ll need are: COAs for all products labels compliant with FDA guidelines and no medical claims made on your website.
Optimizing CBD Checkout Flows
Install a multi-layer age verification system whenever you want to obtain a bulk order, for example, by using the date of birth and ID scan. You can show laboratory results as part of your checkout procedure at your online shop so that you can minimize “product is not as described” claims. Provide your customers with subscription options through ACH (1 percent fees versus 4 percent for cards)—services like Recharge accommodate CBD recurring billing. Pay wholesalers with virtual cards to ensure compliance with keeping accounting simple. Route product types by transaction—full-spectrum CBD through high-risk processors, isolate products mainstream gateways wherever possible. Always have a backup processor built-in—CBD accounts will get terminated abruptly despite compliance.
convergepay payment gateways shopify payments intuit payments payment platforms payment provider online payment processing companies online payment providers paypal express authnet gateway chase payment tech paypal checkout paypal express checkout payment portals cheapest payment processor stripe payment method fusebox elavon paypal pro authorizenet payement gateway mobile payment platforms payment provider online rayzorpay white label payment gateway stripe payment gateway online payment processors international payment gateway online payment gateway woocommerce payments virtual terminal credit card processing best payment gateway shopify payment gateway payment gateway for website white label payment processing ach payment processor merchant payment services square virtual terminal moneris gateway ecommerce payment gateway best payment gateway for small business square payment gateway ach payment gateway shopify payment methods payment gateway integration best ach processing companies paypal payment gateway nmi payment gateway skrill payment credit card payment gateway credit card processing service intuit payment solutions gateway credit card stripe ach payments gateway payment processing payment processing platforms gateway credit card processing credit card gateway stripe shopify bluesnap payment merchant gateway shopify payments fees ecommerce payment processors ach payment providers website payment system merchant provider wordpress payment gateway payment integration payment gateway companies payment page payment gateway services subscription payment gateway internet payment gateway merchant payment gateway payment gateway for international payments paypal gateway best shopify payment provider shopify installment payments secure payment gateway top payment gateways braintree gateway authorize net fees worldpay charges payment integration services bigcommerce payment gateways payment gateway charges paypal braintree shopify payment processing fees worldpay us virtual merchant xero stripe integration uspay gateway payment gateway solutions trust payments square online checkout largest payment processors credit card payment platforms shopify payment options best payment