Need a CBD Merchant Account?
Finding a high risk payment processing solution that keeps your CBD business running smoothly is critical for your online business. PayKings knows how frustrating it can be for a high risk business in the CBD oil industry to obtain the right payment processor. Finding the best credit card payment processing might seem daunting for even the most experienced CBD merchants. If you don’t know where to begin, we’re here to help you make the right steps towards finding a high risk CBD merchant account. We have the CBD payment processing solution that fits your business needs.
As a CBD merchant, it’s important to understand why payment processors are often difficult to obtain (and retain) for sales in the CBD industry. CBD product sales are considered to be high risk in the online merchant account world due to the nature of how the oil is cultivated. CBD is a legal product. However, it is derived from the same plant, which breeds its illegal counterpart, cannabis. The very notion sends banks and lenders into high alert often resulting in your CBD oil merchant account being labeled high risk. Right now, CBD is categorized as a high risk business regardless of what kind of CBD products you carry in your online store.
Alternatively, being high risk does not mean you’re out of luck when it comes to eCommerce and payment processing online (also known as card-not-present transactions). PayKings are experts at finding the best way to expand your market to deliver your CBD services and products. PayKings is committed to finding the proper credit card processing solutions you need to dominate the online presence. We offer completely customizable CBD merchant processing options to solve to your business needs. Therefore, PayKings makes it easy to obtain a CBD oil merchant account in as little as 48 hours.
Did Your Credit Card Processor Shut Down Your CBD Merchant Account?
PayKings understands that your online CBD business is your lifeline. And when your credit card payment processor suddenly shuts down your merchant account, you’re left feeling completely helpless. Fortunately, having a payment processing company such as PayPal, Square, or Stripe shut down your merchant account does not mean you’ve reached the end of the road. It’s quite the opposite. PayKings can not only help you recover your CBD merchant account, but we are also the complete payment solution for your high risk business needs.
First, it is important to understand exactly what recovery means. If your CBD merchant account has been shut down through PayPal, Square, or Stripe, you cannot get it back up and running through those payment processing companies. This termination means your business has been restricted from using many online credit card processors for your CBD product sales. Funds that remain in your merchant account often cannot be accessed until you are able to establish a high risk credit card processor specifically tailored for your CBD merchant account. Termination of CBD merchant accounts often causes a lapse in incoming payments. Consequently leading to insufficient funds in your accounts. CBD merchants often find themselves in a desperate situation, owing their bank despite being unable to generate sales or access funds.
Choosing The Best CBD Payment Processor
When your CBD merchant account is shut down, it is critical to act fast and know where to seek help. PayKings will help you get your account recovered the right way. We can offer the high risk payment processing solution your CBD merchant account needs. With your business back up and running, you can get back to what matters most – running your online CBD business.
If you are still in the early stages of building your online CBD store, then you’ve come to the right place. Signing up with the best CBD merchant processing company from day one saves you the time and frustration of getting shut down by payment processing companies like PayPal, Stripe, or Square. When you establish a payment processing solution through PayKings, you avoid any funds being frozen. Your stream of income then remains steady and reliable. If you are looking for CBD merchant processing that can offer you competitive solutions and rates, PayKings is your ideal choice.
How Can PayKings Help With My CBD Merchant Processing?
Aggregate payment processors such as PayPal, Stripe, or Square can only get your online CBD store so far. Often times, these companies lure in CBD merchants with appealing “instant approval” offers. But weeks later, once the underwriting process has taken place and high risk CBD products are discovered, the road comes to an end. Once these companies are made aware that you are selling CBD on Shopify or on another ecommerce site, PayPal, Stripe, or Square, will freeze and shut down your account. These top payment processors often utilize this risk monitoring system by scanning all merchant accounts, evaluating processing history and seeing which qualify. When the business model is deemed high risk after initial approval, which is always the case with CBD oil merchant accounts, you can expect the account to be closed.
So why go through these hurdles when you can avoid the stress of having your CBD merchant account shut down? Start your business the right way and open a sustainable high risk merchant account from the beginning with PayKings. Click here to get your free quote from PayKings regarding your CBD merchant services today!
How Do I Establish A CBD Merchant Account?
In step with the information above, CBD merchants who sell hemp-derived CBD products at less than 0.3 percent THC can apply for a CBD merchant account with Paykings. We cannot provide a credit card merchant processing account of any cannabis products containing cannabidiol, cannabinoid, tetra-hydrol-cannabinol (THC) in excess of the allowed percentage.Before you start your online CBD company, it’s important to have a clear understanding of the CBD industry and products sold on the hemp market. To start, below is a list of the different categories of CBD products.
- CBD Concentrates
- Ointments and CBD Topicals
- CBD Gummies
- CBD Pet Products
- Sprays and Atomizers
- CBD Flower
- Full Spectrum CBD Products
- CBD Pills and Capsules
- CBD Vapes
- CBD Resin
- Creams and Lotions
- CBD Isolate
- CBD Drops
- Broad Spectrum CBD Products
- CBD Drinks
- CBD Edibles
- CBD E-liquid
- Water Soluble CBD Products
- CBD Distillate
- CBD Crumble
- CBD Oral Applicator
- CBD Powder
- Dropper for CBD
- CBD Tinctures
- CBD Extracts
- CBD Smoke and Vape
- CBD Paste
- Disposable CBD Vape Pen
- CBD Inhaler
- CBD Shatter
- CBD Patches
- CBD Wax
- CBD Oil Syringe
How Does Being High Risk Affect Your Chances of Getting a CBD Merchant Account?
Selling CBD online is a high risk business for more reasons than its association to cannabis. There are several other factors that deem CBD a high risk in the payment processing realm. First, an ecommerce CBD sale is an online sale. Meaning, the sale is processed as a “card not present transaction” which is inherently high risk payment processing. Additionally, high risk CBD businesses have very high discount rates and large security reserves (also known as a rolling reserve). A business is usually classified as a high risk merchant if the industry they’re in has a higher risk of fraud and chargebacks. In the case of being a CBD oil merchant, the high risk label is typically due to the business being a reputational and legal risk for banks and lenders. This is a result of the strictly enforced FDA regulations on CBD in the United States.
As a CBD oil merchant looking to sell hemp products in an online market, it’s important to understand that credit card processing providers like Stripe and PayPal do not specialize in high risk industries. Therefore they cannot process payments for the hemp merchant. Unlike those companies, PayKings has many acquiring bank partners that approve CBD accounts. Merchants who offer high risk services or CBD and hemp products must consider a provider that specializes in high risk processing industries. The payment processing provider will help you establish your high risk merchant account.
For businesses that are considered high risk, it is important to align yourself with the right CBD merchant processing providers. PayKings is a high risk merchant account provider that is trusted and proven to process transactions for your high risk business at competitive rates. We offer custom tailored solutions to merchants in the CBD oil industry that need a payment gateway for selling their CBD products in an online market. With a CBD payment processor that fits your business, you are able to get set up with legitimate debit and credit card processing. PayKings will expertly pair you with a solution that is willing to accept the liability for the increased risk associated with your high risk business.
PayKings steps in as the reputable and knowledgeable payment processing company for your CBD Oil merchant account. PayKings understands the unique needs of different CBD related businesses and has established 24+ acquiring banking relationships to become the experts in the field. We help you get approved fast for CBD oil merchant account to accept online payments.
CBD Oil Merchant Account Experts
- 20+ Proven Bank Relationships
- Medium/High Risk Accounts
- Fast CBD Oil Account Approval
- Large Merchant Case Studies
- E-Commerce and Retail Options
- B2B Vendors Supported
Multiple Payment Solutions
- Multiple E-Commerce Gateway
- Chargeback Prevention
- Credit Cards
- B2B-Level II/III Data Discounts
- 3D Secure Frictionless Checkout
- Mobile Payment
- EMV Readers
Intuitive Compatibility & Support
- Gateway Recurring Billing
- E-Commerce Cart Plugins
- Developer API / Docs
- International Merchant Accounts
- Dedicated Account Managers