Passage of the Farm Bill was supposed to open the floodgates for the CBD industry, making it much easier for CBD merchants to obtain merchant accounts and accept credit cards just like any other business. For a time, it seemed that this would actually happen. Elavon began accepting CBD merchant accounts but suddenly shut them down just a few months later due to quality control issues with the product.
Of the few providers that do take CBD merchants, there are an even smaller number that we feel comfortable recommending. Our recommended processors are ones that we know already accept CBD merchants and have a strong reputation for providing fair prices and honest service. You can, however, still expect to be assigned a high-risk merchant account — one that will, unfortunately, come with some very high processing rates.
Also, be aware that some providers accepting CBD merchants impose additional restrictions beyond those typically required for a vanilla high-risk account. Some providers will only accept established businesses, while others impose a very high minimum monthly processing volume.
Be sure to discuss these restrictions when you obtain a quote from any provider. Finding a good high-risk merchant account provider for your CBD business involves the same criteria as a low-risk provider. Here are the most important considerations:. Although the core function of a payment gateway is to process a transaction over the internet, integrated platforms add many additional functions, including inventory management, employee scheduling, and sales analytics and reporting.
Integrated platforms allow you to manage your business from anywhere — as long as you have a device with a web browser and access to the internet. In the early days of the CBD industry, many merchants simply signed up with Square, only to quickly have their accounts terminated when the company discovered what they were selling. Today, Square openly accepts CBD merchants through a specialized program.
While PayPal will allow almost anyone to sign up for a business account, its Acceptable Use Policy has always prohibited using its platform to sell any CBD products. Violation of this policy will result in the closure of your PayPal account. BigCommerce offers extensive support to CBD businesses, including access to a choice of over 65 third-party payment gateways.
The company also provides extensive information about the ins and outs of running a CBD business on its website, and is an excellent resource to refer to when setting up your CBD business. Visa-owned Authorize. Net gateway. Net as their primary gateway option. Despite the passage of the Farm Bill and the deregulation of hemp and hemp-based products, the CBD industry continues to struggle with a mass of conflicting state laws that make it challenging to find a merchant account. As of early , the availability of CBD payment processing continues to expand as reputable providers such as Square now openly offer CBD payment processing.
At the same time, the industry continues to suffer from a combination of conflicting regulations, a high chargeback rate, and an often-erroneous association with the marijuana industry. For these reasons, CBD merchant accounts can be unusually expensive — even compared to other high-risk industries — and consumers ultimately bear that cost.
We firmly believe that the regulatory issues affecting the CBD industry will get sorted out — eventually. The process of updating the law is never swift, and with 50 different legislative bodies working independently on these issues, it will probably be quite some time before most major banks and direct processors will feel comfortable working with the CBD industry.
At the same time, FDA studies that fail to back up the numerous health claims made by CBD proponents could doom the industry altogether. Square is probably the best and most reliable option available for smaller CBD merchants or those just starting out. Responses are not provided or commissioned by the vendor or bank advertiser.
Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. Most low-risk providers will close your account as soon as they see a CBD product sale.
Good luck all…most of these things are complete bullshit 3rd party people thinking they can pull off miracles when they cant. Your email address will not be published. Comment moderation is enabled. Your comment may take some time to appear. Please read the " User Review and Comment Policy " before posting. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities.
The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services.
Check our help guide for more info. Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships , and we adhere to strict guidelines to preserve editorial integrity. Company Highlights Next Steps Highlights. Best choice for merchants selling topical CBD products and seeking personalized customer support.
Best choice for merchants looking for transparent pricing and a domestic merchant account. Most affordable choice for low-volume CBD merchants and start-ups. Best for merchants looking for interchange-plus pricing. This will activate your WeChat Wallet. You can then change your language back to English and WeChat Wallet should stay visible. The name field is also case sensitive. Now you have successfully linked your bank card with WeChat!
Here is how you can change your bank card:. Personal WeChat payment is only used for peer-to-peer transactions. It cannot be connected with a company. This is the most common way to use WeChat payment. You can embed it into your WeChat shop. When users make a payment, they will just need to enter the 6-digit pin code or scan of a fingerprint.
QR code payment is usually used when your customers are shopping on a desktop website. The QR code will be automatically generated by the WeChat payment system.
Having this popular payment option available for your users will increase the conversion on your Apps. WeChat Quick Pay is the most common way to accept payment in a physical store. This way you can scan the WeChat payment QR code of the use.
Mini-program Payments are triggered if users try to purchase items or services online via a WeChat Mini-program an App built within the WeChat ecosystem. They are similar to WeChat Web-based payment, although they necessitate a specific technical integration.
You can do so on the official WeChat Official account page:. In order to create and verify your account, you will need the following documents and information:. Once your official account is scanned and verified, you will be able to apply to WeChat Payment using the menu on the left-hand side of the account.
You will then have to follow a process similar to the account creation process in order to get WeChat Payment enabled. For overseas business, you can setup WeChat cross-border payment account.
This account will let your customers to pay in RMB using WeChat Pay, and the payment will be able to settle in your overseas bank account. If the currency of your country is not on this list, you can open a multi-currency bank account to accept payment. You can apply through Tencent parent company of WeChat certified payment agencies and local financial institutions.
These agencies will help you to transfer the payment overseas and settle in your home countries. Recurring payments Details on recurring payments. Process checks Process checks with confidence, get your answers here. Manage payments Process customer payments with QuickBooks. Gift card payments Answers to questions about gift cards. Article Community Videos. Common questions about payments deposits in QuickBooks Online. Find out when QuickBooks Payments deposits customer payments. Why is my batch deposit delayed or suspended?
Increase cash flow with Get Paid Upfront. Sign up for QuickBooks Payments. Merge QuickBooks customers to resolve problems integrating with QuickBooks payments. More Topics Less Topics.
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