CBD Payment Processing in Europe
CBD is a chemical compound, or cannabinoid, found in the hemp plant. It is non-psychoactive, meaning it will not get you high. Unlike THC and Cannabis, CBD has medicinal properties. It can be used to help with pain relief, inflammation, anxiety, depression and insomnia. The CBD industry is growing rapidly, said to have exceeded $2.8 billion in 2019 (roughly £2.2 billion). This market is set to grow at a rate of 52.7% CAGR between 2020 and 2026, projected to hit £80 billion pound by 2026. Despite this, CBD has been slow to take off in Europe due to the legal and regulatory environment.
In contrast to the cannabis plant producing THC and CBD, hemp does not produce THC. This means that CBD products made from hemp are safe and cannot get you high. However, there are still concerns about THC levels in hemp products. In the US, it is legal for hemp growers to sell products with up to 0.3% THC. In Europe, hemp products must contain less than 0.2% THC. Hemp growers in Europe are worried that this standard will be too high and that it will lead to a shortage of hemp-based CBD products.
There are also concerns about safety in Europe because many CBD products (e.g. CBD oil) are produced in China and India and there is no regulation of what ingredients they might contain. The European Commission is working with Member States to set up a harmonized system for the regulation and labelling of CBD products in the EU.
The EU’s stance on CBD
CBD Payment Processing is an emerging payment processing market in Europe, with a wide variety of merchants accepting it as a form of payment. All of the merchants are European and have been established in the last few years.
The European Union (EU) is taking a stance on the legality of CBD in Europe, and many countries are following suit. The EU has no regulations on CBD, so it is legal in all 28 countries. However, they have set regulations on THC, which is illegal.
Some countries have stricter regulations than others. For example, France has strict regulations on CBD because CBD products are not allowed to contain more than 0.2% THC. On the other hand, Denmark has no regulations on CBD, but they have regulations on THC, so they are illegal. The regulations differ depending on the country, but overall, the EU has no regulations on CBD.
Benefits of using CBD payments in Europe
The European Union has been working on a new directive to regulate cryptocurrencies, including Bitcoin. The directive will include the following:
The directive will cover all transactions involving virtual currencies, including trading, exchange, transfers, or any other type of transaction.
The directive will not be limited to certain types of virtual currencies, but rather will cover all types of virtual currencies.
The directive will not apply to transactions with virtual currencies that are carried out by public authorities, including central banks.
Any company or person who provides services for the exchange or transfer of virtual currencies will have to be registered.
Payfasto offering CBD payment solutions in Europe
CBD has been gaining popularity in the United States, and Europe is starting to see an increase in CBD products. There are many CBD product vendors in Europe, but not all of them accept credit cards, which makes it difficult for customers to buy CBD products. The problem is that many European countries have strict laws against cannabis, so many people can’t use their credit card to buy CBD products. Fortunately, there are processors that offer payment solutions for CBD products in Europe.
Payfasto offers payment solutions for CBD products in Europe. We provide unique, multi-currency merchant accounts for CBD product sellers that includes cross-boarder payments: customers can make purchases without worrying about high fees or processing times.
We cover wide range of debit and credit cards, including the most popular ones such as VISA and MasterCard. We also offer local payment methods for the customers to be able to pay for your products using the locally popular payment vendor, such as iDeal in Netherlands.
If you like the idea of cryptocurrency, we can assist you with crypto payment solution for you to be able to accept payments in cryptocurrency for your products. We also offer Point of Sale (POS) and mobile Point of Sale (mPOS) for on-site sales.
If all the above sounds like a hassle to you, our services cover Pay-by-Link as well. You can send a payment link to your customer via direct message or social media messenger. They can pay for your products simply by visiting the link.
Conclusion
The blog post is about how CBD payment processing in Europe is becoming more and more common. As the cannabis industry continues to grow, more people are looking for ways to process payments for cannabis-related goods.
CBD payment processing can be a viable option. It’s important to know that CBD is legal in most European countries. The cannabis industry is growing across the world, and it’s important to take steps to process payments for your products.
In Europe, there are several different ways to process payments for CBD-related goods. Most people choose to use a credit card processor such as Stripe or PayPal, but there are other options as well that are less costly and more fitting to your business.
PayFasto is trusted by many CBD & cannabis merchants who are currently processing payments with us. Once you’ve processed your first batch of payments with us, you’ll be able to see just how simple it can be. Click here to learn more about our CBD related services.
