CBD Merchant Account Payment Processing
March 10, 2023 | High Risk Merchant Account | Dustin
It is no secret that marketing CBD continues to rise in popularity. It has become a billion-dollar industry and is projected to keep growing. As the industry advances, so does the demand for high risk credit card processing solutions. Many CBD merchants and sellers often face challenges in securing the payment processing solutions they need for their CBD products.
While CBD continues to dominate the market, popular online payment processors like Stripe CBD and PayPal flag CBD merchant accounts as “prohibited business.” Even if you’re looking to sell CBD through the popular eCommerce platforms like Shopify or Amazon there is a chance they will flag your product and decline your merchant account.
For sellers, getting CBD oil processing solutions can be an exhausting journey. Fortunately, PayKings provides payment processing solutions for CBD merchants and sellers. When it comes to selling CBD through your eCommerce platform, PayKings offers dependable payment gateways and credit card processing for CBD merchants as well as reliable CBD solutions for eCommerce sellers needing to accept credit card payments online.
What is CBD?
CBD, or cannabidiol, is a chemical compound naturally derived from the Cannabis Sativa plant. Also known as hemp oil, CBD is found primarily in the flowers and leaves of the hemp plant. Hemp and Marijuana are two well-known species of the Cannabis Sativa plant. THC is the psychoactive ingredient in Marijuana. Unlike Marijuana, CBD is non-psychoactive, meaning it doesn’t result in the same cognitive effects on the brain. It contains no more than 0.3% THC levels.
CBD is said to remedy a wide variety of health issues including stress, inflammation immunity, pain, and mood. But why and how does CBD work? The answer, the Endocannabinoid System. Researchers studying the effects of cannabis on the body found that endocannabinoids assist in regulating virtually every single system in the human body. The discovery of CBD and the Endocannabinoid System has catapulted the business of selling CBD online into full swing.
If you’re considering getting into the market of selling CBD, PayKings knows what it takes to be the CBD merchant account solution to your high risk payment processing needs. We encourage you to find out more about how to sell CBD oil. Knowing your product is important for your CBD oil solutions, and while it goes through its own limitations, it also adds new usages, preclinical studies, clinical trials, and abilities.
What Is CBD Used For?
CBD has become the billion-dollar market due in part to the wide array of consumers it serves. A broad range of age groups are captivated by CBD products due to the medicinal properties they may possess. However, the FDA has not approved of CBD’s healing properties, and is continuing to crackdown on unregulated claims.
As CBD continues to rise in popularity, more clinical tests and research is done to further the community’s knowledge of the potential uses and benefits. CBD is a safe and natural alternative to pharmaceutical drugs which has proven effective in cases where other outlets have been exhausted as well as ineffective. Additionally, CBD has proven to be a valuable tool to help tobacco users quit smoking through means of CBD vape juice and CBD vape oil.
CBD is also useful in the treatment of skin conditions in the form of topical solutions, serums, creams, and lotions. CBD is rich in Vitamin E and other nutrients that are beneficial for the skin. Topical CBD solutions can be used to help increase oil production for those who suffer from dry skin. Some people suffering from the skin condition, Eczema, have reported healthier skin due to topical CBD use resulting in increased oil production and nourished skin.
CBD products have incredible versatility in both commodities and markets. CBD has made a substantial economic rise in a short period of time and is capable of delivering benefits consumable by an endless number of market. Indeed, CBD oils and CBD edibles appeal to those suffering from chronic illness and those with minor skin irritations alike.
Common Kinds of CBD Oil Products (from CBD vape juice to CBD oil products)
It’s no wonder so many people sell CBD oil these days, as it is one of the most versatile products to have recently hit the market – and together with the overall change in attitude towards cannabis, generally speaking, it’s become clear why selling CBD oil is blowing up into hundreds of millions of dollars so quickly. CBD products overlap into many other markets including the vape industry, beauty, and of course pharmaceuticals.
Two main types of CBD are tinctures and oils. There are a few key differences, however, both contain the same beneficial properties. Tinctures are characterized as being a CBD extract or concentrate with minimally added flavors and herbs typically added to drinking water. CBD oil is distinguished by adding CBD extracts to a carrier oil that is composed of plant fats. It is designed to be a more pure form of CBD than tinctures and can be used to cook with.
Some other products include concentrates which use high percentages of CBD oil. Similar to supplements, CBD can be sold in the form of capsules and are an option for those who do not smoke or use oils. CBD vape oil is as popular as vaping and CBD vape juice popularity continues to rise.
We encourage you to find out more about how to sell CBD oil. Knowing your product is important for your CBD oil solutions, and while selling CBD on Shopify or Amazon has its own limitations, it also adds new uses, preclinical studies, clinical trials, and abilities.
A common mistake when considering a CBD oil merchant account is to assume Amazon is a viable option.
Does Amazon sell CBD Oil?
Many CBD merchants automatically turn to Amazon as a place to sell their CBD products. It is a logical assumption that using one of the largest online retailers in the world to sell CBD oil or CBD vape juice may seem like the most beneficial and obvious choice – but in answering the question “does Amazon sell CBD oil” – the short answer is no.
It is no accident that CBD sales are excluded from the Amazon marketplace. The underwriting process at Amazon does not allow for CBD oil merchant accounts to be approved because CBD vape juice (and similar products with CBD listed as an ingredient) are too highly regulated. High regulation makes CBD products of any kind too high of a risk for a large corporation like Amazon to take on. If you try to sell CBD on Amazon through a merchant account, it will simply be denied. This declined application process will also be happen when seeking out a Stripe high risk CBD merchant account or PayPal CBD merchant account – all doors with aggregate payment processors will be closed. The fact of the matter is, typical payment processing companies and credit card processing companies simply will not touch CBD sales.
Paypal CBD Merchant Accounts
In essence a PayPal CBD merchant account does not exist. This is due to the precarious legality of cannabis-derived products. In many states in the US, cannabis is still illegal. While CBD is derived from the Cannabis plant, it is vastly different from its stigmatic cousin. Regulators failing to make this distinction lead to online credit card processors like PayPal prohibiting CBD merchants from payment processing. As an innovator in the high-risk processing industry, we understand the misconceptions associated with CBD and THC and the loose correlation still represents a problem. Many people lack the basic understanding of what CBD truly is, thus flagging it as a high risk industry and product for payment processing.
Merchants who are not yet established with credit card payment processing options are left wondering how to sell CBD oil or how to become a CBD seller.
One thing is for sure, in this sector, it’s notoriously hard to become a CBD seller and merchant. Whether selling CBD oil vape juice products online or selling CBD oil from your own home – regardless of your strategy to sell CBD oil, you will first need to find reliable credit card payment processing.
Luckily, PayKings specializes in helping companies like yours establish viable credit card payment processing. PayKings developers are skilled in WordPress, WooCommerce and hundreds of other builders and will expertly get your site ready to process your CBD oil products.
Sell CBD Oil? Know the Law and Find an Attorney
If you’re currently selling any type of CBD products including CBD oil or are seeking CBD oil solutions, then it is in your best interest to consult an experienced attorney that understands the laws pertaining to CBD oil solutions and the eCommerce industry.
Selling CBD oil and other products online is now currently legal in all fifty states of the United States of America. With the vast bulk of the country legalizing medical and recreational marijuana, the remaining states will likely change their legislation in the near future. While the CBD industry is thriving, we encourage you to seek qualified legal counsel and double-check your state and local laws before selling CBD oil online or elsewhere.
In May, the Food and Drug Administration hosted a hearing on CBD regulation and legislation to collect scientific data, discussion solutions to regulation concerns, CBD product quality, and safety concerns for the public. This hearing was a big step in the right direction for the CBD industry as a whole which could eventually lead to ease in payment processing in the future for the CBD eCommerce industry.
Selling CBD oils and other products online may sound intimidating but in truth, the reward far exceeds the risk if you find the right partners. If you are diligent in abiding by the evolving laws, your CBD business can thrive. And while high-risk payment processing has proved challenging for many, PayKings is the CBD payment processing solution. Check out PayKings innovative features like mobile credit card processing for your online CBD business today. With CBD sales, it is imperative to use a high risk payment processing solution like PayKings. With features such as mobile credit card processing, your online CBD business is sure to thrive and maintain good standing.
How to Get the Payment Processing you Need for Selling CBD Online
If you are an existing CBD oil merchant, chances are your CBD merchant account was frozen or shut down completely. Why is that? Well, these companies don’t work with industries that are considered to be high risk. And, unfortunately, a CBD merchant account happens to require the expertise of an experienced payment processing company, like PayKings, who can say “yes” to your high risk merchant account application.
Finding reasonable CBD oil solutions doesn’t have to be impossible. At PayKings, we work specifically with businesses who are in high risk industries and can help you become a CBD seller with the lowest rates and the most reliable credit card payment processing solutions.
If you’ve got a solid business selling CBD oil and just lost your processing, it is important for you to know that a payment gateway is only compatible with selling CBD oil online if it’s set up correctly. You can become a CBD seller and be set up with a CBD merchant account in as little as six minutes – it’s as easy as starting with your free QuikQuote.
How to Find the Right CBD Merchant Account For Your Business
If your CBD merchant account was declined, we know how stressful that is for a business owner. One of the biggest hurdles to overcome when selling CBD oil products online is finding a merchant account with a CBD oil solution for your needs. Now the actual work starts. As we have discussed, selling CBD oil online requires more regulation and safety than your typical payment gateway or traditional merchant account. This is precisely why selling CBD oil is referred to as “high risk ” from the eCommerce market. CBD is not alone on this hurdle, as several other high risk industries fall into this category of needing a high risk merchant account
As a CBD merchant looking for payment processing solutions, you have come to the right place. At PayKings we want to assist you through each and every hurdle, including recovering your CBD merchant account and reestablishing your eCommerce business. In order to get you up and running, you sometimes need more than just a payment gateway to connect to your own shopping cart. PayKings will help you establish an appropriate CBD merchant account that’s suited specifically for selling CBD products like oils and vape juice online and in retail spaces.
CBD Credit Card Payment Processing Gateways
When it comes to selling CBD oil from home or through your eCommerce platform, PayKings offers dependable payment gateways and credit card processing for CBD oil merchants as well as reliable CBD oil solutions for eCommerce sellers needing to accept credit card payments online. In regards to CBD marketing and selling oil online, you may find yourself struggling with payment gateway issues. While plenty of payment processing gateways exist, CBD payment processing requires an understanding of high risk business needs and this is what separates PayKings.
PayKings will custom tailor CBD oil solutions for your online business. We specialize in helping merchants who are having difficulties after being shut down by a major payment gateway and are in need of CBD oil solutions and secure credit card payment processing. So, if you’re having trouble getting payment processing solutions withStripe, Amazon, or PayPal for your CBD business, you’re in the right place. When you need fast account recovery after Amazon, Stripe, or PayPal has shut down your business, only PayKings gets up and running with the payment processing solution that best fits your CBD business.
Get started today with our free QuikQuote – and start selling CBD oil online and accepting payments in as little as six hours!
March 10, 2023 | High Risk Merchant Account | Dustin