Have you been looking for a reliable and secure way to accept ACH and credit & debit card payments in your CBD business? You no longer have to look any further than FLEX Payment Solutions, and we have the perfect solution for you – our CBD Merchant Account.
The Best CBD Merchant Account For Your Business
The CBD industry has defied the odds to become one of the fastest-growing sectors with enormous potential, thanks to increased product acceptance. While significant progress has been made, especially in enhancing the accessibility of CBD products in the USA, several restrictions and underlying perceptions still make it a high-risk business.
As a CBD merchant, one of the greatest challenges to running your business is the existing limitations on how you can accept payments. This is due to the high risk of the CBD industry, which has seen many payment providers steer clear of this market, making it near impossible for CBD businesses to accept payments through ACH, credit cards, and debit cards.
Why CBD Payment Processing Is Considered High Risk
There are several reasons why the CBD industry is considered high risk, and the primary hurdles are:
Existing Legal Gray Areas
CBD has been legalized in most states, a primary reason for the boom in this industry. Despite this, cannabis, hemp, or marijuana remains a schedule 1 controlled substance under federal law. This has created a major operational hurdle for CBD businesses as most credit card processors do not want to be associated with a federally illegal substance.
Tough Regulatory Environment
Since the CBD industry is relatively new, the regulatory environment surrounding it is ever-changing as new concerns emerge and have to be covered by introducing new laws and regulations. As a result, the CBD industry is ever-striving to comply with these new laws and regulations. This has made it hard to establish partnerships with other mainstream service providers, such as payment processors, who take seriously the laws and regulations an industry has to adhere to.
Misplaced Perceptions of the CBD Industry
The CBD industry is fast making gains, but misplaced perceptions about the industry still exist, given the stigma on marijuana/cannabis. These market perceptions impact how B2B service providers, including payment processors, are willing to associate with CBD businesses as they do not want to lose their reputation.
High Risk of Chargebacks
Chargeback cases have heavily impacted CBD businesses as many customers often seek to return an item or demand a refund. These cases have given the CBD industry a bad reputation, causing many payment processors to give it a wide berth as they aim to avoid such risks.
History of Payment Processing Violations
The CBD industry has a bad history of payment processing violations, which began in its early days as many businesses were flagged for fraudulent transactions. Unfortunately, this has had a long-term impact on the industry since many payment processors are still hesitant to offer their services to businesses in this sector.
Let Us Solve Your CBD Payment Processing Issues
Despite the challenges the CBD industry faces when accessing payment processing solutions, FLEX Payment Solutions has committed itself to help you overcome these hurdles. We have done this by creating an industry-specific and professionally tailored merchant account for CBD businesses.
Why Choose Our CBD Merchant Account Services
You Get Your Own CBD Merchant Account
Avoid the worries of being bundled with other CBD businesses by a merchant account aggregator by choosing our CBD merchant account. With us, you get to own your account to ease how you monitor and manage all your transactions.
Fast and Secure CBD Payment Processing
You deserve convenience when running a CBD business, especially when it comes to receiving your payments. With our CBD merchant account, you will have fast and secure payment processing solutions, so you can process orders as fast as possible.
Hardware and Virtual Payment Terminals
We provide both hardware and virtual payment terminals, so you can run your physical and online CBD business with ease. The best part is that both solutions have been tested and approved to work in the most demanding environments.
Simple and Efficient Third-Party Payment Integrations
We offer a wide range of third-party payment integrations, so you can accept card payments without facing any challenges or limitations. With our integrated gateways, you will obtain PCI DSS compliance, so your CBD customers are assured of the safety of all their card transactions.
Suitable for All CBD Businesses
Our CBD merchant account is perfect for everyone in the CBD business. As such, whether you sell CBD supplements, pet products, skin care products, hemp oil, CBD edibles, or smokable products, we have you covered.
Once you get our CBD merchant account, you never have to worry about working with a middleman. Our solutions do not involve any intermediary, as our pride is in providing you with seamless payment processing solutions.
We are committed to making it easy for you to run your business, and to ensure this, we offer reasonable fees for our CBD merchant accounts. Depending on your needs, you will have the option to opt for either a flat rate fee or interchanging pricing.
24/7 Customer Support
At FLEX Payment Solutions, we value your satisfaction and will always be there to address all your concerns. We provide 24/7 customer support so you only have to be concerned about serving your customers.
Make the Smart Choice About Your CBD Payment Processing Needs
As a CBD business, you cannot afford to limit your customers on how they can make payments for products they purchase. Having a cash-only system will only see you lose customers, as we are in an age where online and card payments are the norm. Fortunately for you, our CBD merchant account is here as a top-tier solution that will resolve all your payment processing needs.
Get started today and let your customer enjoy the ease of paying for CBD products online and in-store without hiccups!!!