As the CBD industry continues to grow, so does the need for reliable payment processing for CBD merchants. However, due to the murky legal landscape surrounding CBD, many payment providers have been hesitant to offer their services to CBD businesses. In this ultimate guide, we will explore the top payment providers that are tailored for CBD business success.
The Ultimate Guide to Payment Processing for CBD Merchants
Before diving into the top payment providers, it is important to first understand the challenges facing CBD merchants when it comes to payment processing. Due to the federal classification of CBD as a Schedule I drug, many financial institutions and payment providers have been hesitant to work with CBD businesses. This has left many CBD merchants with limited options for processing payments, often resulting in higher fees and slower processing times.
To combat these challenges, many CBD merchants have turned to specialized payment processors that cater specifically to the CBD industry. These payment providers offer lower fees, faster processing times, and more lenient approval processes, making it easier for CBD merchants to accept payments from customers.
Top Payment Providers Tailored for CBD Business Success
One of the top payment providers in the CBD industry is Square. Square has been a staple in the payment processing industry for years, and recently began offering their services to CBD merchants. With fast approval times and competitive fees, Square is a great option for small to medium-sized CBD businesses.
Another great option for CBD merchants is PaymentCloud. PaymentCloud specializes in high-risk industries, including CBD, and offers tailored solutions to meet the unique needs of CBD businesses. With 24/7 support and fast approval times, PaymentCloud is a top choice for CBD merchants looking for a reliable payment provider.
For larger CBD businesses, Elavon is another great option. Elavon is a well-established payment provider that offers customized solutions for high-risk industries, including CBD. With advanced fraud prevention measures and competitive pricing, Elavon is a reliable choice for CBD merchants looking to scale their business.
With the right payment provider, CBD merchants can streamline their payment processing, reduce fees, and improve their overall customer experience. While the CBD industry may face unique challenges when it comes to payment processing, the providers listed in this guide offer reliable solutions to help CBD businesses succeed.