How to Get a Cannabis or CBD Merchant Account

January 31, 2019 | High Risk Merchant Account | PayKings

There are many concerns linked to the cannabis and CBD oil industries. The position about the plant itself is the principal concern for any bank or financial participant in the area. Even for medication such as pharmaceuticals, there can be challenges. Existing pharmacies that are online now have to acquire a cannabis or CBD oil merchant account. Age verification and state laws would be the fundamental problems, but PayKings has solutions that can help these merchants in need of a CBD merchant account acceptance so they can utilize online payment processing.

Does a CBD merchant account fall under the same constraints of a marijuana merchant account or for that of a dispensary?

Yes. The same difficulties should be anticipated when seeking a CBD merchant account, since it is related to the cannabis plant itself.

What does PayKings do that is different from other payment processing companies that offer CBD merchant accounts?

We understand that you have enough to deal with as you’re building and developing your business so leave us with the payment processing side of things.

Additionally, each of our processing banks are conscious of the products you’re selling. There is nothing unethical about the application and we can get you a fast and seamless approval for a CBD oil merchant account, with no hidden descriptors, and there aren’t any surprises in any way. You are going to know about everything upfront because we expect the exact same in return.

You’re processing for CBD oil merchant accounts now, any plans to offer merchant services for real cannabis flower products?

We have partnered with the only US bank that have accurately processed debit and credit cards to get dispensaries on an online payment processing level. This alternative works good for storefronts, delivery drivers who need wireless components, as well as wholesale centers where they require larger transaction sizes.

How are different banks outside the USA tackling this matter? Is it easier or more challenging to get cannabis, hemp-based, or CBD oil merchant account?

Although you may have more international payment processors that are willing to “play ball” than you might have domestically – the process can still be very complicated. Most payment processors require you to register or incorporate into their country, which can be expensive and time-consuming. It is extremely important that the best payment processor is chosen for your CBD oil merchant account and that it is done so with full transparency.

What’s the one change in the Federal authorities need regarding hemp, cannabis, and CBD oil that would help your company the most?

Reclassification of cannabis as the schedule one drug is what is needed in this business. When this occurs, which we are optimistic will probably be in the not too distant future, a lot more doors will open for us and also for all marijuana dispensaries across the US, which means easier access to a cannabis or CBD oil merchant account.

What about CBD oil merchant account options for vertical niches within these market, such as for online retailers with products like vapes and pipes?

Yep, we already offer these kinds of solutions. Click here for more info on accessing a vape merchant account.

We offer payment processing solutions for those that need a CBD oil merchant account, as well as for eCommerce businesses that sell merchandise that would fall into this category; this can be for both card present (swiped) and card not present (keyed) transactions. We can aid any type of business in this industry with either debit and credit card payment processing or ACH approval to help their clients.

How can people contact PayKings about obtaining a CBD oil merchant account or the like?

Clients can visit our website by clicking here to learn more about us and what we do, or for those that know they need our services, you can click here to fill out a fast and free QuikQuote.

PayKings is the most reputable and knowledgeable payment processing company for your CBD Oil merchant account. We understand the unique needs of different CBD Oil related businesses and have established 24+ acquiring banking relationships to become the experts we are in getting CBD Oil merchant accounts accepting online payments.

January 31, 2019 | High Risk Merchant Account | PayKings