CBD Merchant Account & Credit Card Processing
As a CBD business owner, you deliver relief to your customers—now let PaymentCloud deliver payment processing relief to you! We’re committed to providing cutting-edge merchant accounts for CBD businesses across the nation. Contact us today to get started with our CBD merchant processing solutions!
- CBD Industry Expertise
- Secure Payment Processing
- Simple Application Requirements
- Expedited Account Approval
- Extensive Suite of Payment Solutions
- Seamless integration Options
What is a CBD Merchant Account & How to Get One
A CBD merchant account is a type of high risk bank account established by the merchant service provider (MSP) that enables you to accept credit and debit card payments for CBD products. Once funds are settled and fees are deducted, funds are transferred to your business bank account. MSPs that cater to CBD businesses are equipped to properly underwrite, approve, and process these riskier transactions.
Fortunately, securing CBD payment processing for your business is easy! Simply fill out our contact form and an account manager will reach out to discuss your merchant processing needs.
After assessing your business’s details, your dedicated account manager will provide guidance about which payment solutions are most beneficial to your particular operations. When you’re ready to move forward, your account manager secures and customizes your chosen solutions. After approval, you can begin processing as soon as the next day.
Accepting credit cards, debit cards, and other forms of today’s most popular payment methods requires a merchant account—a unique bank account into which transactions are deposited. Fortunately, securing a merchant account for your CBD business is easy! Simply fill out our contact form and an account manager will reach out.
After assessing your business’s details, your dedicated account manager will provide guidance about which payment solutions are most beneficial to your particular operations. When you’re ready to move forward, your account manager secures and customizes your chosen solutions. After approval, you can begin processing as soon as the next day.
CBD & Hemp Products We Support
We support businesses selling traditional CBD and hemp-derived products falling within a 0.3% THC threshold, and operating in locations where cannabinoid-derived products are legal. Supported products include:
- CBD for Skincare
- Tinctures & Oil
- CBD Supplements
- Beauty products
- Pain relief sprays
- Hemp oil
- Pet-friendly CBD Items
- CBD Ingestibles
- CBD drinks
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Why is CBD & Hemp Oil Considered High-Risk?
CBD and hemp products are classified as “high risk” for a few reasons. The first of which is legislation. Until recently, cannabis products containing any amount of THC were federally illegal, thus CBD merchant accounts could not be obtained. The Farm Bill of 2018 removed cannabidiol from Schedule I drug classification and allowed states to create their own parameters around the sale of CBD products. While recent legislation has been more favorable than historically, it’s unclear whether future legislation will continue this favorable trend or shift back to historically restrictive regulations.
Additionally, the alleged benefits of cannabinoids remain unverified beyond personal testimonials. Without substantial data detailing what can be considered the standard results of CBD- and hemp-derived products, customers left with unmet expectations may initiate a chargeback. And due to its higher likelihood of chargebacks, the payment providers consider CBD a high-risk industry.
CBD Merchant Account Types
At PaymentCloud, we strive to support CBD merchants across all business models. Within our wide range of payment processing offerings, you’ll find the perfect payment solution to support your business’s specific needs.
Online
For eCommerce CBD merchants, our state-of-the-art payment gateways equip you with everything you need to accept online payments securely.
Retail
If your CBD business operates from a brick-and-mortar storefront, our retail payment solutions include a selection of stationary and mobile card readers that are among the most stylish and easy to use devices in today’s market. We help you accept payments and look good doing it!
Over the Phone
Offer your customers what they want: convenience. With a secure virtual terminal, you can accept payment details from your customers via phone and email. Our virtual terminals’ easy-to-use interfaces make it easier than ever to accept card-not-present payments.
CBD Credit Card Processing Rates & Fees
The exact credit card processing rate you can expect for your CBD business depends on a number of factors, including your business’s level of risk and whether you sell your products online or in person. Your account manager will determine your rate after assessing these factors. That said, rates for CBD payment processing typically range from 2.95% to 5%. However, this does not include other credit card processing fees like monthly fees and related merchant account fees.
While it’s true that you have to spend money to make money, we don’t think you have to spend that much money. At PaymentCloud, we offer competitive rates and transparent pricing with no hidden fees or long-term contracts. Your dedicated account manager will walk you through the entirety of your contract during onboarding, after which they’ll be available to answer any related questions throughout the lifetime of your account.
What Is Required to Get a CBD Merchant Account?
Typical documentation required for a CBD merchant account is as follows:
Government-issued photo identification
Signed merchant application
Voided check or bank letter
Three months of bank statements
Three months of processing statements
Up-to-date certificate of analysis (COA) for CBD products
List of suppliers for CBD products
How PaymentCloud Handles CBD Merchant Processing
In order to successfully advise you every step of the way, we train our staff to be knowledgeable regarding regulations of the CBD industry and requirements of CBD payment processing. After one of our experienced account managers effortlessly secures you a CBD merchant account meeting mandatory compliance standards, you can begin processing payments!
The Importance of Partnering with a Seasoned CBD Payment Processor
Many payment aggregators like Stripe and PayPal, do not allow CBD sales on their platforms. Even partnering with other payment service providers that do allow CBD sales, like Square, may still leave you at the risk of getting your account terminated after review. That’s why partnering with a merchant service provider that handles high-risk industries like CBD is crucial to operating a successful business.
As a merchant services provider at the forefront of the CBD industry, we’ve secured thousands of merchant accounts for CBD entrepreneurs. When you partner with PaymentCloud, you also partner with our robust network of payment solution providers cultivated over years in the industry. With the advantage of PaymentCloud’s resources, CBD merchants—like you—can get approved faster, easier, and at the most competitive rates possible!
CBD Payment Gateways for Seamless Integrations
Beyond providing CBD merchant accounts at affordable rates, PaymentCloud supports integrations directly into the software, systems, and tools you already utilize within your operations. We maximize your CBD business’s potential through an array of partnerships with industry-leading payment gateways—such as Authorize.net, NMI, and USAePay—that seamlessly integrate with the most popular eCommerce platforms. While we can integrate with almost any gateway or website platform, below lists some of the more popular website builders that we work with:
Bigcommerce
Collecting payments is now more efficient than ever when you directly integrate our solutions into BigCommerce. Within minutes, your payment system will be up and running on your CBD BigCommerce shop.
WooCommerce
Our payment solutions seamlessly integrate with WooCommerce’s platform. After this, merchants can easily accept credit cards from within their CBD WooCommerce store.
Shopify
With the assistance of our support team, you can obtain the unique API credentials of your chosen payment solutions for smooth integration with Shopify’s platform. You’ll see no delays when accepting payments on your online CBD Shopify store.
FAQs About CBD Credit Card Processing
What Is CBD?
CBD (Cannabidiol) is a naturally occurring compound found within the cannabis plant. It belongs to a class of compounds known as cannabinoids. CBD is non-psychoactive, meaning it does not produce the euphoric or "high" effect that is often associated with cannabis use and has been shown to have potential therapeutic benefits such as reducing anxiety, improving sleep, and relieving pain.
Is CBD legal?
Overall, CBD products derived from cannabis plants with less than 0.3% THC are legal in all 50 states, though the sale or shipment of these products is not permissible in every state. However, there are more specific nuances regarding the legality of CBD. For instance, the SAFE Banking Act provides legal protections for financial institutions that serve cannabis-related businesses in states where cannabis has been legalized
Do I need a license to sell CBD?
Whether or not you need a CBD license depends on the state in which your business resides and operates. There are also other factors that determine whether or not you need a CBD license, such as where you sell your products, where you source your products, and your revenue generated from selling CBD products.
Can I sell CBD online?
If you have a CBD merchant account, adhere to legal restrictions, and follow payment industry guidelines, you may sell CBD products online.
What is the best CBD POS software?
When you partner with PaymentCloud, your account manager will access the specific needs of your CBD business to connect you with the best point-of-service software for your specific operations. While we partner with many providers that specialize in servicing CBD business, PAX’s POS software is a top choice among our CBD clients due to its user-friendly interface and stylish devices.
How can I start a CBD eCommerce business?
While the CBD industry is booming, launching a CBD business is not as simple as setting up a website and selling products. With a number of regulatory hurdles to navigate, it's important to have an understanding of CBD regulations before launching a CBD business.
Can my business sell Kratom as well?
Kratom is legal in most countries, with no restrictions on its sale. However, it’s recommended you check your local laws before selling Kratom to ensure you’re in compliance with all applicable regulations.
Ready to Talk?
Apply in as little as 5 minutes and you will receive a call from one of our trained representatives within 24 hours to get you set up with a CBD merchant account.
Here's What Our Merchants Say
Ermin S.
It was fast, easy, and convenient to get me started with CBD payment processing!
Tim C.
Everyone has been super helpful and kind. Thank your team for all their assistance.
Danielle G.
Thank you! I truly appreciate you guys! Simple, easy, and transparent service!
