CBD Card Processing
March 12, 2023 | Merchants | Dustin
CBD Payment Processor
Card processing for retail CBD stores is finally here. Until now, CBD shops throughout the country struggled to find a payment solution for their customers. Over the past months, the industry went through progressive leaps. Back in December, CBD merchants were happy to hear hemp, pre-roll, and CBD vape items were approved for accounts. Now, payment solutions are moving from ecommerce to retail.
With the ability to process payments via cards in-store, the CBD industry is sure to grow. Banks have increased their appetite for these types of accounts which have endured stricter regulations and more business than ever before. The vape and hemp vertical remains in the category of high risk, but may change as the products become more abundant and welcomed by the masses.
Payment Processing for CBD Retail Stores
Payment processing for CBD companies coincides with overall consumer purchasing trends. According to Medgadget, the market is estimated to have a compound annual growth rate of 125.58% from 2019 to 2026.
Brick-and-mortar locations should contact a high risk payment provider to apply to an account. This will allow them to serve new CBD products to customers like never before.
March 12, 2023 | Merchants | Dustin