Payment Processing Solutions for CBD Businesses
Reliable Payment Processing for CBD and Hemp Oil Businesses
Have you added a line of CBD-related products? Don't risk getting shut down. Instead, have Website Payment Pro board your company with a bank that specializes in underwriting merchants that sell CBD and Hemp Oil products!
CBD and other Hemp Oil related products have become extremely popular recently, with constant promotion through radio commercials, social media, and billboards. Unfortunately, it's nearly impossible for merchants selling CBD-related products to get approved for a legitimate merchant account, as most processors and acquiring banks have these products on their "prohibited" list due to a lack of definitive rules from the FDA.
Merchants selling CBD products often have no choice but to turn to so-called "high-risk" processors. However, these processors often have stringent underwriting requirements that most merchants can't meet, such as being in business for at least one year, processing volumes of at least $100K per month, or conducting sales only online.
Fortunately, at Website Payment Pro, we have formed partnerships with processors that are more flexible in their underwriting criteria, catering to both new startups and $1MM+ accounts! They will also board online (eCommerce) merchants as well as in-store (retail) merchants!
Our solutions make the process as painless as possible, and we offer one of the Most Competitive Rates in the Industry!
Application Process
To get the process started, we ask merchants to complete the "pre-application" form and submit it along with their most recent six months of credit card processing statements. If you have fewer than six months of statements, just send us what you have.
We work with several providers, and this pre-vetting process will give us the information we need to determine which bank/processor to proceed with. At that point, we will follow up with a merchant application, present you with the proposed rates and fees structure, along with the bank's terms and conditions.
What are COAs?
A Certificate of Analysis (COA) is a document from an accredited laboratory that shows the quantity of various cannabinoids in a product.
Manufacturers should send every batch of every product they make to a lab for testing to protect their customers and prove that their products have as much CBD as they advertise. Click Here for more information
Explore our online cbd payment processing, payment processing for cbd products, and high-risk merchant account solutions tailored for CBD and Hemp Oil businesses. Contact us at 1-800-304-0555 to learn more about our secure payment processing services for your CBD business.
LOWER RISK CBD
Are some CBD merchants considered "Low Risk"? The short answer is Yes!
Merchants selling only topical CBD products (such as creams, balms, patches, bath bombs, etc.) may qualify for the low-risk category.
These merchants may include Chiropractors, Licensed Massage Therapists, Salons, and more. In most cases, these merchants will also qualify for some of our lowest payment processing for cbd products rates.
If your business falls into the lower-risk CBD category, you can benefit from our competitive cbd merchant account solutions. Our team will work closely with you to determine the most suitable credit card processing for cbd businesses options, ensuring a seamless and secure payment experience for your customers.
Whether you're a high-risk or low-risk CBD merchant, Website Payment Pro offers tailored online cbd payment processing and high-risk merchant account cbd solutions to meet your unique business needs.
HIGHER RISK CBD
Merchants selling a wide variety of CBD and/or hemp oil products, including edibles, ingestibles, tinctures, isolates, capsules, vape, and more, fall into the high-risk merchant account cbd category.
Regardless of whether a merchant is selling topicals only or topicals + ingestibles, etc., the application/underwriting process requires a full listing of all CBD/hemp oil products sold, along with the current COAs (Certificates of Analysis) for each product.
Furthermore, the COAs must confirm that the THC content is no higher than allowed by law (currently 0.3%).
For high-risk cbd merchants, Website Payment Pro offers tailored payment processing for cbd products and credit card processing for cbd businesses solutions. Our team will guide you through the application process, ensuring compliance with industry regulations and providing secure
Whether you're a high-risk or low-risk CBD merchant, we have the expertise to cater to your unique needs.
HIGHEST RISK CBD
A large number of merchants selling CBD and hemp oil products are also selling CBD hemp flower and pre-rolled cigs. Most CBD credit card processors do not allow the sale of these highest risk, CBD-related products.
You won't want to risk losing your merchant account privileges if your bank doesn't approve the sale of these products.
Fortunately, our banking partners will consider boarding merchants that are selling flower and pre-rolls, as long as the COA lab reports indicate the products fall within the legal limits. Of course, all of the other underwriting criteria must pass the bank's review as well.
For merchants in the highest risk CBD category, Website Payment Pro offers tailored high-risk merchant account cbd and payment processing for cbd products solutions. Our team will work closely with you to ensure compliance with legal requirements and provide secure online cbd payment processing options for your business.
Our banking partners are willing to consider boarding merchants in this category, provided that all underwriting criteria are met, including COA lab reports indicating legal THC levels.
GETTING STARTED IS EASY
APPLICATION PROCESS
To get the process started we ask merchants to complete the "pre-application" form and submit it along with your most recent six months of credit card processing statements. If you have fewer than six months of statements, just send us what you have.
We work with several providers and this pre-vetting process will give us the information we need to determine which bank/processor to proceed with. At that point we will follow up with a merchant application, present you with the proposed rates and fees structure, along with the bank's terms and conditions.
WHAT ARE COA'S?
A Certificate of Analysis, or COA, is a document from an accredited laboratory that shows the quantity of various cannabinoids in a product.
Manufacturers should send every batch of every product they make to a lab for testing, to protect their customers and prove that their products have as much CBD as they advertise.
Click Here for more detailed information.
FDA DISCLAIMER
An FDA disclaimer is required on your website. Here is an example of such disclaimer but be sure to consult with your attorney to include all the necessary verbiage to comply with the current FDA regulations.
EXAMPLE: The statements made regarding these products have not been evaluated by the Food and Drug Administration. The efficacy of these products has not been confirmed by FDA-approved research.
These products are not intended to diagnose, treat, cure or prevent any disease. All information presented here is not meant as a substitute for or alternative to information from healthcare practitioners.
Please consult your healthcare professional about potential interactions or other possible complications before using any product. The Federal Food, Drug, and Cosmetic Act requires this notice.
Do Not Make Claims!
Merchants should not make any claims to prevent, treat or cure any illness, disease, ailment, or condition, etc., including any blogs, consumer reviews or testimonials.
Explore Website Payment Pro's comprehensive payment processing solutions tailored for your business needs. Contact us today at 1-800-304-0555 to learn more and get started.
