CBD Payment Processing
Compliance is key – to maintaining a CBD Merchant Account and the banks and processors make sure you remain complaint – The following agencies are watching the CBD and Hemp space.
The federal agencies that are looking at this industry are on a long list and that is why many banks shy away from this product.
- FDA – they look at your advertising and product labeling
- USDA – looks at how the hemp is grown and it meets the .3 or .03% THC level
- DEA – looks at these products and if you are selling items that contain too much THC
- FTC is looking at your website, advertising for promises you can’t keep
- This makes compliance a big job for processors, banks, etc…
CBD PAYMENT PROCESSING
This really depends on what you are selling, The name of your store and corporation along with your advertising and social media posts. We have a few banks that allow for retail but they have strict rules – to find out if you meet the criteria, get in touch with us.
We have three programs. New Business – We have two banks that are working with Startups. Existing Businesses processing over $20K per month. Existing businesses processing over $100K per month Qualifies for a special quote.
Existing Businesses processing over $100K per month Qualifies for a special quote If you are already processing and you want to lower your fees. We need to review 3 statements and your website to see if you qualify for one of our programs.
Nationwide Payment Systems provides companies that sell CBD with an all-in-one solution. From accepting credit card payments to enabling your customer to purchase with crypto in person or on your website.
The FARM Bill 2018
The FARM Bill 2018, opened up this market and there are several banks that are opening merchant accounts for
hemp, CBD, and related products. We work with just about any website and we have several gateways and we have fraud tools available that you can also sign up for. If you are looking for additional processing volume or just want to see if you can lower your costs, we can help.
Learn more about the 2018 Farm Bill here https://www.fda.gov/news-events/congressional-testimony/hemp-production-and-2018-farm-bill-07252019
We have been helping merchants obtain processing with hard-to-place businesses since 2001 and we are always looking for solutions so we can help business owners.
Besides CBD and Hemp, we also offer merchant accounts to Cannabis related businesses, Doctors’ offices, Cards, Lights, Accessories, and more!