CBD merchant Accounts payment processing

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Payment Processing for all CBD Products

The CBD industry has evolved into a dynamic marketplace with a wide range of products catering to various consumer needs. From oils and tinctures to edibles, topicals, and more, businesses in the sector offer an array of options for customers seeking the potential benefits of cannabidiol.

At PayFasto, we provide tailored solutions to businesses across the US and Europe. We ensure seamless credit card processing and digital transactions with our expertly designed payment gateway. Our platform is built to reduce fraud and chargebacks, ensuring reliable transactions.

We understand the unique payment processing requirements of this high risk industry. Our specialized payment gateway is designed to seamlessly support various CBD product types, ensuring smooth and secure transactions for both merchants and customers:

When you work with us, you can accept payments from a global customer base while guaranteeing the utmost protection of sensitive customer information. 

Why are CBD merchant accounts considered high risk?

Despite the growth in all around the world, cannabidiol is considered high risk in the payment processing industry primarily due to its legal ambiguity. Even though it is legalized in numerous places, its status varies by region, leading to ever-changing regulations.

Additionally, banking institutions often face strict regulations when dealing with products related to CBD and therefore identifiying these businesses within the high-risk industries. This goes for cannabis merchant accounts too.

This means they can face higher fees or even be denied service, which is why CBD businesses needs a high risk merchant account processor. As these products grow in popularity, having a secure and reliable payment partner is crucial.

CBD Oil

Oils and tinctures are highly sought-after products in the market, known for their potential health and wellness benefits including stress relief, pain management, and relaxation.

PayFasto offers solutions specifically designed for businesses selling cannabidiol oil and tinctures. Our platform provides a secure and user-friendly environment for customers to conveniently make online purchases.

CBD Edibles & Beverages

The market for edibles is constantly growing, offering a wide range of options such as gummies, chocolates, and even CBD-infused coffee and tea.

At PayFasto, we offer a seamless payment processing experience for businesses that sell CBD edibles. Our merchant account ensures that customers can effortlessly indulge in their preferred treats.

Enjoy the benefits of our tailored payment solution and cater to the growing demand.

CBD Topicals & Skincare

CBD topicals, such as creams, balms, and lotions have become increasingly popular due to their potential benefits for both skincare and muscle relaxation.

If you’re a business that offers CBD topicals, you can trust PayFasto’s high-risk payment gateay to ensure secure transactions, while also enhancing your customers’ shopping experience at a minimal cost.

With our specialized merchant account, we’ve got you covered for all your needs!

CBD Health and Supplements

The CBD market has witnessed the rise of various health and wellness products like capsules, softgels, and supplements. These products offer a convenient means for individuals to include CBD in their daily wellness practices.

At PayFasto, we provide a payment solution specifically designed for chemical supplements. Our platform supports businesses that sell health and wellness products, guaranteeing that customers can confidently make their purchases.

Vaping & Smoking Accessories

To ensure a hassle-free and secure payment process for selling vaping and smoking accessories like vape pens and cartridges it is important to have specialized payment processing solutions. 

PayFasto recognizes the unique requirements of these businesses and offers a tailored vape merchant account, making it the perfect solution for e-commerce websites that sell vaping and smoking accessories.

Hemp Products

Whether you’re selling hemp-derived products, CBD-infused goods, or other hemp-related merchandise, you need a secure and efficient payment gateway to ensure seamless transactions for your business to thrive.

PayFasto’s hemp merchant account is designed to cater to the unique needs of the hemp market.

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How To Get a CBD Merchant Account?

A CBD merchant account is a specialized financial arrangement that allows businesses to accept credit and debit card payments for their cannabidiol oil products.

Given the high-risk nature of the industry, traditional banks often shy away from providing merchant services.

This is where a reputable payment processor like PayFasto steps in, offering a solution that empowers your business to process transactions with ease.

Research and Choose the Right Payment Provider

Begin your journey by researching established high-risk payment processors that have experience in serving these businesses.

Prepare Necessary Documentation

To strengthen your application, gather essential documents such as your business license, articles of incorporation, bank statements, processing history (if available), product information, and legal compliance details. If Processing History is unavailable then detailed business plan and cashflow forecast for minimum of one fiscal year.

Demonstrate Transparency

Clearly outline your business model, including the types of products you offer and your target market. Transparency is key, as it builds trust and confidence with payment processors.

Highlight Compliance

Ensure that your business adheres to all relevant regulations and guidelines governing the cannabidiol industry. Providing proof of third-party lab testing, labeling compliance, and legal authorization can bolster your application.

Integrate Payment Gateway

Work with your chosen payment processor to integrate their payment gateway into your online store or point-of-sale system.

Test and Launch

Given the industry’s non-standard hours, round-the-clock customer support is crucial.

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You’ll be well-connected to of the apps you know and love – even if you’re operating in a high-risk industry.  

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YOUR QUESTIONS

Frequently Asked Questions

CBD, or cannabidiol, is a natural compound derived from the cannabis plant. It is one of over 100 cannabinoids found in cannabis and is known for its potential therapeutic benefits.

Unlike THC (tetrahydrocannabinol), cannabidiol is non-psychoactive, meaning it doesn’t produce a “high” sensation. Many consumers turn to these products to address issues like pain, anxiety, and insomnia

The legality of CBD varies by state in the US, making major retailers cautious about selling it online. Online merchants must prioritize quality and transparency for long-term success.

Amazon has a strict policy against it in the US due to financial risks and changing regulations, but recently allowed CBD sales on its UK platform. Sellers can consider using platforms like Shopify or WooCommerce.

A CBD merchant account is designed for CBD businesses to securely process card transactions for their products. However, it can be challenging to obtain a merchant account due to the industry being considered high risk.

PayFasto offers specialized payment processing solutions designed to address the distinct needs of the industry.

Here’s why businesses need a dedicated payment processing solution to sell their products:
  1. Acceptance of Credit and Debit Cards: A merchant account allows you to accept major credit and debit cards, offering customers a familiar and convenient payment method.
  2. Enhanced Credibility: Displaying recognized payment logos at checkout can instill a sense of trust and credibility among your customers.
  3. Global Reach: With a merchant account, you can tap into a global customer base by accepting payments from customers around the world.
  4. Streamlined Online Transactions: For e-commerce businesses, a merchant account seamlessly integrates with your online store.
  5. Secure Transactions: Leading payment processors employ advanced security measures such as encryption and fraud detection tools to ensure the safety of sensitive customer data.
  6. Efficient Funds Management: A merchant account facilitates the efficient management of funds, allowing for timely and reliable disbursement of payments into your business account.
  1. Accept of Credit and Debit Cards: A CBD merchant account allows you to accept major credit and debit cards, offering customers a familiar and convenient payment method.

  2. Enhanced Credibility: Displaying recognized payment logos at checkout can instill a sense of trust and credibility among your customers. 

  3. Global Reach: With a CBD merchant account, you can tap into a global customer base by accepting payments from customers around the world.

  4. Streamlined Online Transactions: For e-commerce businesses, a merchant account seamlessly integrates with your online store.

  5. Secure Transactions: Leading payment processors employ advanced security measures such as encryption and fraud detection tools to ensure the safety of sensitive customer data.

  6. Efficient Funds Management: A merchant account facilitates the efficient management of funds, allowing for timely and reliable disbursement of payments into your business account.

The transaction fees for a CBD merchant account typically range from 2-4%. Nevertheless, the overall expense tied to a merchant account can fluctuate due to various elements. These include the choice of a payment provider or credit card processor, the risk assessment of your business, your transaction volume, and the specific services you need.

For example, the rates PayFasto sets for credit card processing are influenced by aspects such as your previous processing records, sales methods, operational countries, sales volume, and the nature of your products.

Payment gateways are a convenient way for you to accept payments through popular e-commerce platforms like WooCommerce or Shopify.

Payment gateways such as PayFasto go beyond just offering merchant processing in different industries. We provide seamless integrations and simplify the payment processing so you can focus on making more sales.

PayFasto also provides real-time transaction monitoring for sales and revenue updates, as well as secure payment processing to protect customer data and financial information.

Popular online payment platforms like PayPal and Stripe have implemented restrictions on CBD sales. Their policies prohibit the sale of these products due to the complex legal landscape surrounding them.

This has left CBD merchants searching for a reliable and secure payment solution that caters specifically to their needs.

PayFasto emerges as a reliable and tailored option, offering businesses a secure, compliant, and user-friendly payment gateway.

With our understanding of the legal landscape of selling cannabidiols, our platform is tailored to provide services to comply with the regulations in this industry. This ensures a seamless and secure payment experience for both businesses and customers.

At PayFasto, we serve the US, UK, and European markets, including (but not limited to) countries such as:

  • Spain
  • Italy
  • France
  • Germany
  • Portugal
  • Denmark
  • Sweden
  • Greece
  • Austria
  • Malta
  • Monaco
  • Netherlands
  • More!