cbd oil payment gateway

December 15, 2021 By admin Off

The Attestation for the Sale of Hemp and Hemp-Derived Products is only available to stores that are based in the United States. If the document doesn’t open in your Shopify admin, then verify that your store is a US-based store.

Laws in the United States surrounding hemp and hemp-derived products are changing, so you should consult with legal counsel before you sell these products on Shopify. Shopify can’t provide legal advice on what and where you can sell.

Yes. If you were previously removed from Shopify Payments for the sale of hemp and/or hemp-derived CBD products, then you can still use the Shopify platform to host your store. You can process payments with an alternative third-party payment gateway, provided that you submit and comply with the Attestation for the Sale of Hemp and Hemp-Derived Products.

Caution.

Yes. Shopify partners, such as Shopify experts, apps, and online sales channels, are able to work with you at their own discretion. You should confirm this with the partner directly before using their services to confirm they’re able to support your products.

Shopify has partnered with integrated third-party payment gateways that currently support the sale of certain hemp and/or hemp-derived CBD products. You can review the application process and apply to any of these providers with the following dedicated links:

Before selling hemp or hemp-derived products on Shopify, review and monitor federal, state, and local laws. You should also monitor updates from the Food and Drug Administration (FDA).

Merchants are not limited to the recommended list of payment providers included above. Merchants are able to use any integrated third-party payment provider that fulfills the following requirements:

Hemp-derived CBD transactions are vetted more carefully by third-party payment gateways than other transactions, so the application and approval process might be more involved than usual. Third-party payment gateways take into account many factors in approving payments and rates for shops selling CBD products, including product type, whether the business was recently created, transaction history, volume, product mix, and others. Approvals are at the discretion of each third-party payment gateway, and Shopify can’t guarantee the approval of your shop.

Shopify Payments is not available to hemp or CBD merchants at this time.

Disable your customer’s SMS notifications.

Hemp-derived CBD transactions are vetted more carefully by third-party payment gateways than other transactions, so the application and approval process might be more involved than usual. Third-party payment gateways take into account many factors in approving payments and rates for shops selling CBD products, including product type, whether the business was recently created, transaction history, volume, product mix, and others. Approvals are at the discretion of each third-party payment gateway, and Shopify can’t guarantee the approval of your shop.

If you haven’t created a Shopify store yet, then go to www.shopify.com/sell/cbd to sign up for a trial store.

If you sell CBD products, then you can only set up email-only order and shipping notifications. SMS notifications are not supported for merchants who sell CBD products.

Shipping services will have their own policies regarding hemp and/or hemp-derived CBD products, so you should contact the carrier you want to use and confirm that they’re able to deliver your products.

I’m located in a state that allows the sale of hemp and CBD products, where can I sell to?

You can learn more about how to set up and restrict shipping locations by product with Shopify Shipping profiles.

No. Shopify Payments is not available for hemp or CBD products at this time. However, Shopify has partnered with several integrated third-party payment gateways that do support the sale of hemp and/or hemp-derived CBD products. You can see this list here.

To sell hemp and hemp-derived products that contain CBD, you need to review and submit the Attestation for the Sale of Hemp and Hemp-Derived Products.

In Canada, merchants that want to sell CBD must be licensed cannabis sellers, and are required to use Shopify Plus. Merchants in all other jurisdictions must continue to comply with Shopify’s Terms of Service and Acceptable Use Policy, which includes ensuring that the merchant is selling products in compliance with all applicable laws and regulations. Learn more about laws surrounding hemp and hemp-derived products that might apply to your business.

Yes. You can use Shopify Shipping to send hemp and/or hemp-derived CBD products to your customers, provided that the applicable carrier allows it. Ensure that you confirm the goods you’re sending are allowed to be shipped under the applicable carrier’s policies, and that the goods are permitted to be shipped to your customer’s jurisdiction.

First, it is important to understand exactly what recovery means. If your CBD merchant account has been shut down through PayPal, Square, or Stripe, you cannot get it back up and running through those payment processing companies. This termination means your business has been restricted from using many online credit card processors for your CBD product sales. Funds that remain in your merchant account often cannot be accessed until you are able to establish a high risk credit card processor specifically tailored for your CBD merchant account. Termination of CBD merchant accounts often causes a lapse in incoming payments. Consequently leading to insufficient funds in your accounts. CBD merchants often find themselves in a desperate situation, owing their bank despite being unable to generate sales or access funds.

Selling CBD online is a high risk business for more reasons than its association to cannabis. There are several other factors that deem CBD a high risk in the payment processing realm. First, an ecommerce CBD sale is an online sale. Meaning, the sale is processed as a “card not present transaction” which is inherently high risk payment processing. Additionally, high risk CBD businesses have very high discount rates and large security reserves (also known as a rolling reserve). A business is usually classified as a high risk merchant if the industry they’re in has a higher risk of fraud and chargebacks. In the case of being a CBD oil merchant, the high risk label is typically due to the business being a reputational and legal risk for banks and lenders. This is a result of the strictly enforced FDA regulations on CBD in the United States.

Look no further than PayKings, the leading experts in getting your CBD merchant account ready to accept payments.

Choosing The Best CBD Payment Processor.

If you need CBD credit card processing, you’ll want to make sure you meet the proper regulations. CBD merchants who sell hemp-derived CBD products at less than 0.3 percent THC can apply for a CBD merchant account with PayKings. At the moment, we cannot provide a credit card merchant processing account for any cannabis products containing cannabidiol, cannabinoid, tetra-hydrol-cannabinol (THC) in excess of the allowed percentage.

So why go through these hurdles when you can avoid the stress of having your CBD merchant account shut down? Start your business the right way and open a sustainable high risk merchant account from the beginning with PayKings. Click here to get your free quote from PayKings regarding your CBD merchant services today!

Finding a CBD merchant solution that keeps your business running smoothly is critical for your online store. PayKings knows how frustrating it can be finding high risk merchant accounts in the CBD industry. Moreover, getting payment processing on your website might seem daunting for even the most experienced CBD merchants. If you don’t know where to begin, we’re here to help. At PayKings, we help you take the right steps towards finding a high risk CBD merchant account. We have the CBD payment processing solution that fits your business needs.

As a CBD company looking for a hemp merchant account to sell hemp products in an online market, it’s important to understand that credit card processing providers like Stripe and PayPal do not specialize in high risk industries. Therefore, they cannot process payments for the hemp merchant. Unlike those companies, PayKings has many acquiring bank partners that approve CBD accounts. Merchants who offer high risk services or CBD and hemp products must consider a provider that specializes in high risk processing industries. The payment processing provider will help you establish your high risk merchant account.

If you’re looking for CBD merchant processing, it’s important to understand why payment processors are often difficult to obtain (and retain) for sales in the CBD industry. CBD product sales are considered to be high risk in the online merchant account world due to the nature of how the oil is cultivated. CBD is a legal product. However, it is derived from the same plant, which breeds its regulated counterpart, cannabis. The very notion sends banks and lenders into high alert often resulting in your CBD oil merchant account being labeled high risk. Right now, CBD is categorized as a high risk business regardless of what kind of CBD products you carry in your online store.

Aggregate companies such as PayPal, Stripe, or Square can’t get you the CBD merchant processing you need. Often times, these companies lure in CBD merchants with appealing “instant approval” offers. But weeks later, once the underwriting process has taken place and high risk CBD products are discovered, the road comes to an end. Once these companies are made aware that you are selling CBD on Shopify or on another ecommerce site, PayPal, Stripe, or Square, will freeze and shut down your account. These top payment processors often utilize this risk monitoring system by scanning all merchant accounts, evaluating processing history and seeing which qualify. When the business model is deemed high risk after initial approval, which is always the case with CBD oil merchant accounts, you can expect the account to be closed.

When your CBD payment processor shuts you down, it is critical to act fast and know where to seek help. PayKings will help you get your account recovered the right way. We can offer the high risk payment processing solution your CBD merchant account needs. With your business back up and running, you can get back to what matters most – running your online CBD business.

How Does Being High Risk Affect Your Chances of Getting a CBD Merchant Account?

For businesses that are considered high risk, it is important to align yourself with the right CBD merchant processing providers. PayKings is a high risk merchant account provider that is trusted and proven to process transactions for your high risk business at competitive rates. We offer custom-tailored solutions to merchants in the CBD oil industry that need a payment gateway for selling their CBD products in an online market. With a CBD payment processor that fits your business, you are able to get set up with legitimate debit and credit card processing. PayKings will expertly pair you with a solution that is willing to accept the liability for the increased risk associated with your high risk business.

PayKings understands that your online CBD merchant processing is important. And when your credit card payment processor suddenly shuts down your merchant account, you’re left feeling completely helpless. Fortunately, having a payment processing company such as PayPal, Square, or Stripe shut down your merchant account does not mean you’ve reached the end of the road. It’s quite the opposite. PayKings can not only help you recover your CBD merchant account, but we are also the complete payment solution for your high risk business needs.

If you are still in the early stages of building your online CBD store, then you’ve come to the right place. Signing up with the best CBD merchant processing company from day one saves you the time and frustration of getting shut down by payment processing companies like PayPal, Stripe, or Square. When you establish a payment processing solution through PayKings, you avoid any funds being frozen. Your stream of income then remains steady and reliable. If you are looking for CBD merchant processing that can offer you competitive solutions and rates, PayKings is your ideal choice.

Disclaimer: Paykings does not directly underwrite or approve CBD merchant accounts. We facilitate via a CBD payment processor to connect CBD merchants selling CBD related products to an approving CBD Merchant account acquiring bank.

Alternatively, getting a high risk CBD merchant account does not mean you’re out of luck when it comes to credit card processing. PayKings is an expert at finding the best way to expand your market to deliver your CBD services and products. PayKings is committed to finding the proper CBD credit card processing solutions you need to dominate the online presence. We offer completely customizable CBD merchant processing options to solve your business needs. Moreover, PayKings makes it easy to obtain a CBD oil merchant account in as little as 48 hours.

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PayKings steps in as the reputable and knowledgeable payment processing company for your CBD Oil merchant account. PayKings understands the unique needs of different CBD related businesses and has established 24+ acquiring banking relationships to become the experts in the field. We help you get approved fast for CBD oil merchant account to accept online payments.