CBD Merchant Account and Payment Processing Solutions
Comprehensive merchant account and payment processing services for CBD businesses
SUPPORTING HIGH-RISK MERCHANTS
Payment Solutions for the CBD Industry
The CBD industry is in full swing and booming. With the expansion and inevitable growth of the industry, CBD and hemp products are being advertised no longer to a group of certain individuals, but the entire world as a whole.
CBD is derived from hemp and is legal in the US, as long as it contains less than 0.3% THC. However, there’s still much confusion about this industry and these products, which means that you need a merchant services provider specializing in this particular area.
Many financial institutions in the United States will avoid working with marijuana products so it can be hard for businesses selling CBD to secure a payment processing account. This means you have limited options to collect payment and may look to turn to alternative methods such as cryptocurrency. However, only a small percentage of people are willing to pay using their crypto. You need access to a broader market for those who are looking to use their cards. With more people using mobile devices, they are conveniently using their cards stored in Apple Pay and Google Pay to checkout on websites. Therefore, to reach its maximum potential, your business needs a way of processing cards. Let High Risk Pay be your solution to securing a reliable merchant account for CBD.
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Why choose High
Risk Pay as your merchant
services provider ?
SPECIALIZED IN HIGH RISK
We offer high risk merchant accounts to all business types in high risk categories.
99% APPROVAL
We offer high risk merchant accounts to all business types in high risk categories.
FAST APPROVAL GUARANTEED
We offer high risk merchant accounts to all business types in high risk categories.
CBD MERCHANT ACCOUNT SERVICES
Benefits of High Risk Pay’s CBD Merchant Account
Rapid 24-Hour Approval
Get approved within 24 hours and start accepting credit card payments on your website as soon as tomorrow, minimizing downtime and maximizing your sales potential.
Comprehensive Payment Acceptance
High Risk Pay merchant accounts accept all major credit card brands, ensuring you never lose a sale due to limited payment options.
Seamless Integration
Our payment gateway integrates with popular website platforms, including Shopify, WooCommerce, Magento, and WordPress, eliminating the need for costly platform changes and streamlining your checkout process.
Expert Support
Receive specialized assistance from knowledgeable professionals who understand the CBD industry and how to process your account.
Robust Fraud and Chargeback Protection
Mitigate the risk of fraud and keep your chargeback ratio low with our advanced protection solutions, safeguarding your business from financial losses.
WHO WE SERVE
High Risk Merchants We Serve
Key Features for Your CBD Payment Processing
Transparent Fee Structure: Ensure your payment processor provides clear and upfront information about all fees, enabling informed business decisions.
Simplified Payment Processing: Seek a solution that offers easy-to-use payment processing for both you and your customers, minimizing your operational responsibilities.
Wide Card Acceptance: Choose a provider that accepts all major card brands, including American Express, to avoid losing potential sales due to limited payment options.
Competitive Fee Rates: While high-risk merchants may face higher fees, prioritize a provider that offers competitive rates to maximize your profit margins.
Diverse Payment Options: Look for a merchant account that supports various payment methods, including debit/credit cards and alternative options, to cater to diverse customer preferences.
Advanced Fraud Protection: Prioritize a provider that offers robust fraud protection tools to safeguard your business from fraudulent transactions and minimize chargeback risks.
Effective Chargeback Management: Select a provider that offers effective chargeback prevention and management solutions to minimize financial losses and maintain a healthy account standing.
Recurring Billing Capabilities: Consider a provider that offers recurring billing options for subscription-based businesses, streamlining payment collection and improving customer retention.
Comprehensive Payment Analytics: Choose a provider that offers detailed payment analytics, enabling you to gain valuable insights into your sales data and optimize your business strategy.
FAQs
Frequently Asked Questions
about Cannabis Merchant Accounts?
What is a CBD or cannabis merchant account?
A CBD merchant account is an account that is designed for businesses that sell CBD products. These businesses include legal landscape, risk of chargebacks, and reputational risk. While CBD products are legal, the industry is still frowned upon, so many banks will not work with these merchants.
Does Stripe allow CBD?
No, Stripe does not allow CBD sales. Stripe refuses to allow anything that is considered to be a high risk on its platform, including payments for CBD products. High Risk Pay is happy to work with CBD merchants and help them process payments related to any legal CBD products and sales.
Does PayPal accept CBD sales?
No, PayPal does not allow or process payments for CBD products. Many customers have reported that PayPal has frozen accounts when they have attempted to receive payments for their CBD products or CBD-related businesses. PayPal classifies CBD cannabidiol products as a narcotic and refuses to process anything related to them.
What banks allow CBD business?
Banks do not accept payments or process payments that are related to the CBD business. Many banks will even close cbd merchant accounts if they attempt to have CBD sales processed. High Risk Pay will approve your account and process your sales as long as the products are legal and legitimate.
Why is CBD high risk?
CBD is considered high risk because many banks and even customers consider these products to be narcotics. CBD is classified as a pain reliever and many processors are not willing to deal with merchants who sell these products because it puts them at risk for payment problems and could result in chargebacks and fraud.
Are High Risk Pay’s CBD Merchant Accounts Safe?
At High Risk Pay, our team is dedicated to providing the best services and to upholding the reputation we have had over the many years. By our policy, you can rest assured that your customer data will remain private, secure and confidential. We make sure our system maintains record high uptime and with minuscule to no downtime, which limits any impact on your business.
Why is the CBD industry considered high-risk for payment processors?
The CBD industry faces regulatory uncertainties and is often associated with the cannabis plant, which leads to misconceptions and concerns among traditional financial institutions. This, combined with the risk of chargebacks and potential reputational issues, makes it a high-risk sector for payment processors.
How quickly can I get approved for a CBD merchant account?
With High Risk Pay, you can get approved within 24 hours. Approval times vary depending on the provider and the completeness of your application.
Are fees higher for CBD merchant accounts compared to low-risk businesses?
Due to the higher risk associated with the CBD industry, processing fees are generally higher than those for low-risk businesses. However, it is important to find a provider that offers competitive rates and transparent fee structures.
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