With increased legalization and reduced restrictions in the sale and use of CBD, CBD oil, and hemp-based products including topicals, gummies and edibles, an influx of CBD based products and businesses are emerging. Because cannabidiol—more commonly referred to as CBD—is derived from the marijuana plant, many credit card processors may be reluctant to associate with your business. Therefore, finding a CBD credit card processing company to help you set up your CBD merchant account can be challenging.

CBD e-commerce is considered a high-risk business for most merchant processors, which can complicate the process of getting paid for your sales. If you’re looking to open a hemp or CBD merchant account, it may be difficult to find the right partner to manage your CBD credit card processing or hemp product payment processing. It’s not uncommon for e-commerce platforms to discontinue working with CBD or hemp companies with little to no notice. Your current processor may even decide to close your account if they change policies. Both situations leave your business in a terrible situation.

As a CBD merchant, you will need to find a payment processor who works with high-risk businesses. You need a partner who has specifically experienced working with CBD e-commerce merchants and understands the industry. It’s relatively easy to find high-risk payment processors, but it can be difficult to identify high-risk payment processors who have an understanding of the industry.

All high-risk businesses are challenging in their own ways, but CBD merchant accounts present unique issues. Under U.S. federal law, CBD products that contain less than 0.3% of THC are legal. However, state laws can be vague and open to interpretation by law enforcement agencies. More often than not, companies that offer financial and e-commerce services do not like uncertainty, and many choose not to work with merchants offering CBD or hemp products.

In addition to that, WizoPay has over a decade of experience working with CBD & Hemp merchants on a day-to-day basiswe know the industry well and we’re excited to invite more CBD and Hemp merchants into our portfolio.

• Laws for CBD products vary from state to state
• Businesses in the CBD industry often have high chargeback rates making them high risk
• Many leading payment processing companies are reluctant to board merchant accounts in industries that are susceptible to high chargebacks
• Other merchant account providers may not want to be associated with an industry that has a negative connotation

We’ve grown with the CBD and Hemp business and understand the dismissive nature of many other payment processors, but because we see these companies and industries as legitimate we choose not to view them negatively from the outset. Instead we choose to see your business for what it is, a legitimate, valuable, in-demand business with customers that need payment options.

We understand the need to keep your customers happy and coming back, and to do that you need to be able to accommodate several payment methods. By partnering with WizoPay as your merchant provider, you can get all your needs met in one place, and more.

You can also expect:

• Fast Approval for All Merchant Accounts
• Low Rates, Free Equipment, & Integration Assistance
• Online Fraud and Chargeback Prevention Program
• Unlimited Processing with Limited or No Hold Options
• Next Day Funding Available
• No Hidden Fees and Transparent Pricing
• In-house Technical Support
• Flexible revenue options to help you scale
• No cancellation or termination fees