CBD Merchant Account
As a CBD business owner, you deliver relief to your customers—now let PaymentCloud deliver payment processing relief to you! We’re committed to providing cutting-edge merchant accounts for CBD businesses across the nation. Contact us today to get started!
CBD Industry Expertise, Secure Payment Processing, Simple Application Requirements, Expedited Account Approval, Extensive Suite Of Payment Solutions, Seamless Integration Options
How to Get a CBD Merchant Account
“Embracing the convenience of credit cards, debit cards, and other prevalent payment methods of today necessitates a merchant account—a distinct bank account where transactions are deposited. Thankfully, obtaining a merchant account for your CBD business is straightforward! Just complete our contact form, and an account manager will be in touch.
Upon reviewing your business particulars, your assigned account manager will offer advice on the payment solutions best suited to your specific operations. When you’re prepared to proceed, your account manager procures and tailors your selected solutions. Following approval, you can commence processing payments as early as the following day.”
Get started with O3 Merchant Services
CBD & Hemp Products We Support
We back businesses that sell standard CBD and hemp-derived items within the legal THC threshold of 0.3%, operating in areas where cannabinoid-derived products are lawful. Supported products encompass:
- CBD for Skincare
- Tinctures & Oil
- CBD Supplements
- Beauty products
- Pain relief sprays
- Hemp oil
- Pet-friendly CBD Items
- CBD Ingestibles
- CBD drinks
At O3 Merchant Services, our goal is to assist CBD merchants of all business types. Among our extensive array of payment processing options, you'll discover the ideal payment solution tailored to meet your business's unique requirements.
Online
At O3 Merchant Services, our goal is to assist CBD merchants of all business types. Among our wide range of payment processing options, you'll discover the perfect payment solution tailored to meet your business's unique requirements.
Retail
For brick-and-mortar CBD businesses, our retail payment solutions offer a variety of stationary and mobile card readers known for their stylish design and user-friendly interface, setting the standard in today's market. We not only facilitate payments but also ensure you make a lasting impression!
Over the Phone
Provide your customers with the convenience they desire. Utilize our secure virtual terminal to accept payment details from your customers via phone and email. The user-friendly interfaces of our virtual terminals streamline the process of accepting card-not-present payments like never before.
The credit card processing rate specific to your CBD business hinges on various factors, such as the risk level inherent to your operations and whether you conduct transactions online or in person. Your account manager will assess these factors to establish your rate. Typically, CBD payment processing rates range between 2.95% and 5%. However, additional credit card processing fees, like monthly charges and associated merchant account fees, are not included in this estimate.
Although it's a reality that investments are necessary for financial gains, we believe that you shouldn't have to spend excessively. At PaymentCloud, we provide competitive rates and transparent pricing devoid of hidden charges or lengthy commitments. During onboarding, your dedicated account manager will thoroughly explain your contract terms, and they will remain available to address any inquiries throughout your account's duration.
Typical documentation required for a CBD merchant account is as follows:
- Government-issued photo identification (icon of hand holding photo ID for getting a cbd merchant account)
- Signed merchant application (icon of private information being verified for securing cbd processing)
- Voided check or bank letter (icon of check for applying for cbd credit card processing)
- Three months of bank statements (icon of bank building used to process cbd payments)
- Three months of processing statements (icon of example cbd processing statement)
- Up-to-date certificate of analysis (COA) for CBD products (icon of certificate of analysis for cbd products)
- List of suppliers for CBD products (icon of checklist representing cbd suppliers)
To ensure seamless guidance throughout the process, our team undergoes rigorous training to stay well-versed in CBD industry regulations and payment processing requirements. Once one of our seasoned account managers successfully secures a CBD merchant account that complies with all necessary standards, you can promptly commence processing payments!
Many payment aggregators, such as Stripe and PayPal, prohibit CBD sales on their platforms. Even collaborating with other payment service providers that permit CBD sales, like Square, may still pose the risk of account termination following a review. This underscores the importance of aligning with a merchant service provider experienced in high-risk industries like CBD to ensure the smooth operation of your business.
As a leading merchant services provider in the CBD industry, we have successfully secured thousands of merchant accounts for CBD entrepreneurs. When you choose to partner with O3 Merchant Services, you gain access to our extensive network of payment solution providers cultivated over years in the industry. Leveraging PaymentCloud's resources, CBD merchants—like yourself—can attain approval swiftly, effortlessly, and at the most competitive rates available!
In addition to offering CBD merchant accounts at competitive rates, PaymentCloud facilitates seamless integrations with the software, systems, and tools already in use within your operations. We enhance the potential of your CBD business through partnerships with industry-leading payment gateways like Authorize.net, NMI, and USAePay, ensuring smooth integration with the most widely used eCommerce platforms. While we have the capability to integrate with nearly any gateway or website platform, the following are some of the more popular website builders we collaborate with:
Bigcommerce
Streamlining payment collection has never been easier with our seamless integration into BigCommerce. In a matter of minutes, your CBD BigCommerce store can be equipped with our payment solutions, ready to process transactions swiftly and efficiently.
WooCommerce
Our payment solutions integrate effortlessly with the WooCommerce platform. Following integration, merchants can seamlessly accept credit cards directly from their CBD WooCommerce store.
Shopify
With the help of our support team, you'll acquire the unique API credentials necessary for integrating your chosen payment solutions with Shopify's platform, ensuring prompt payment acceptance on your CBD Shopify store.
FAQs About CBD Credit Card Processing
Cannabidiol (CBD) is a naturally occurring compound present in the cannabis plant, classified under cannabinoids. Unlike tetrahydrocannabinol (THC), CBD is non-psychoactive, meaning it doesn’t induce the euphoric “high” commonly linked with cannabis consumption. Research suggests that CBD offers potential therapeutic advantages, including anxiety reduction, sleep improvement, and pain relief.
In general, CBD products extracted from cannabis plants containing less than 0.3% THC are lawful across all 50 states, although not every state permits their sale or shipment. However, there are additional intricacies regarding CBD legality. For instance, the SAFE Banking Act offers legal safeguards for financial institutions serving cannabis-related businesses in states where cannabis has been legalized.
If you have a CBD merchant account, comply with legal restrictions, and adhere to payment industry guidelines, you are eligible to sell CBD products online.
CBD and hemp products are categorized as “high risk” for several reasons. Initially, legislative factors played a significant role. Historically, cannabis products containing any level of THC were federally prohibited, making it impossible to obtain CBD merchant accounts. The enactment of the Farm Bill in 2018 removed cannabidiol from Schedule I drug classification and empowered states to establish their own regulations for CBD product sales. While recent legislation has been more favorable compared to historical norms, the future trajectory of regulations remains uncertain.
Moreover, the purported benefits of cannabinoids remain largely unverified beyond anecdotal evidence. The absence of substantial data outlining the standard outcomes of CBD- and hemp-derived products means that customers, whose expectations may not be met, could initiate chargebacks. Due to the elevated risk of chargebacks, payment providers classify the CBD industry as high risk.
Upon partnering with O3 Merchant Services, your account manager will evaluate the particular requirements of your CBD business to link you with the most suitable point-of-service software for your unique operations. While we collaborate with numerous providers catering to CBD businesses, PAX’s POS software stands out as a preferred option among our CBD clients, appreciated for its intuitive interface and sleek devices.
Although the CBD industry is experiencing rapid growth, initiating a CBD business entails more than merely creating a website and selling products. Given the various regulatory obstacles to overcome, it is crucial to familiarize yourself with CBD regulations before embarking on a CBD business venture.
Kratom is permissible in the majority of countries, typically without any sales restrictions. Nevertheless, it is advisable to verify your local laws prior to selling Kratom to ensure full compliance with all relevant regulations.
Submit your application in just 5 minutes, and within 24 hours, one of our skilled representatives will contact you to facilitate the setup process for your CBD merchant account.
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