CBD Hemp Cannabis Oil Credit Card Payment Processing
CBD (Cannabidiol) oil, also known as hemp or cannabis oil, is gaining popularity in the U.S. for its medical applications. Like medical marijuana (mmj), this substance is beneficial in the treatment of patients with severe illnesses.
But also like mmj, cannabis oil is a substance that is highly regulated, making it difficult for businesses that sell these products to get business financial services they need, including credit card payment processing.
At The Transaction Group (TTG) we understand how frustrating it is for these legally operating businesses. Without credit card processing services, their ability to collect payments from customer sales is severely hindered.
TTG is a merchant services provider that assists all types of businesses throughout the U.S. with credit card payment processing needs. Since 2004 we’ve helped thousands of merchants to get set up to accept credit cards. And when it comes to high risk, we’re the experts.
High Risk Credit Card Processing
Many industries and products in the U.S. are categorized as high risk. Not necessarily because these products are “risky” for consumers, but more so, risky for banks and credit card payment processing services. High risk businesses can range from online subscriptions to e-cig and vape retailers.
While also considered high risk, CBD hemp oil products and merchants are whole different animal. For CBD merchants, even getting set up with a high risk merchant account today is difficult.
Finding Credit Processing Services for CBD
There is certainly no shortage of high-risk merchant account providers in the country, including those willing to take on even the highest risk merchants. The question is, are they really able to help?
Although rare, some processors can be so hungry that “miscoding” or disguising a business as something that it’s not in order to get the account approved is not out of question.
When this happens, it’s only a matter of time until the banks discover miscoded accounts and shut them down, leaving the CBD merchant without a payment processing solution altogether.
Offshore merchant accounts are an option for CBD retailers, but should be avoided. Dealing with rates between 7-15% and non-US regulated banking entities can be risky and costly.
A Card Payment Solution for Cannabis Oil
At TTG, we have domestic credit card payment process solutions for CBD oil businesses.
Through our voucher program, a customer is able to purchase a voucher in the amount of the sale. They then cash it in for the product they select. This solution works for both brick and mortar stores as well as online stores.
Our e-check solution is also great for all CBD hemp oil merchants. This solution enables customers to use credit cards to load an account and then transfer payments for products.
Get Started Today!
Getting set up with a payment processing for your CBD oil store is easy! We offer same day approval on new accounts. Sign up today and start processing customer sales as early as today!
Have questions or need more information? Call us at 888-383-8056. Ready to get started? ‘Apply Now’ to complete our pre-application. We look forward to helping your business succeed!
Need immediate assistance? Complete this form or call us today at 888-383-8056.