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cbd oil merchant account

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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.

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.

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

Hemp Merchant Account

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.

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.

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.

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.

Presenting clients with a unified commerce strategy, this CBD payment professor supports various payment methods including ACH, credit cards and debit cards. NMI provides detailed insights into transactions, of which can be managed in conjunction with BigCommerce.

Although a small provider, PayWize knows what’s up in regards to the financial predicaments faced by businesses operating in the CBD industry.

Processors with POS system integration will be able to assist you in managing both online and offline transactions. With accurate reporting gleaned from POS software, store profitability can be increased, as well as customer loyalty, business intelligence and ease of access to your sales portal.

USAePay.

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Pros

As the old saying goes, “You have to spend money to make money,” but just how true is this quote?

In 2018, investment firm Cowen investment claimed that retail sales of CBD consumer products in the U.S. ranged from $600 million-$2 billion.