CBD And Hemp Merchant Account Payment Solutions And Credit Card Processing

CBD And Hemp Merchant Account Payment Solutions And Credit Card Processing

Have you added a line of CBD-related products? Why risk getting shut down?

Instead, have Website Payment Pro board your company with a Bank that specializes in underwriting merchants that sell CBD and Hemp Oil products!

CBD and other Hemp Oil related products have become extremely popular recently. Radio commercials, social media, billboards...the constant promotion is all around us. Unfortunately, it's near impossible for merchants (selling CBD-related products) to get approved for a legitimate merchant account, because the vast majority of processors and/or acquiring banks have these products on their "prohibited" list. This is also due to banks not having definitive rules to follow pursuant to the FDA.

Merchants selling CBD products have no real choice than to turn to so called "high risk" processors. Considering all of the additional paperwork and due diligence in getting these accounts approved, most of these high-risk processors want to cherry pick the accounts. They set underwriting requirements that most merchants just can't meet, such as: must be in business for at least one year, must be processing volumes of at least $100K per month, sales conducted only online...and more.

At Website Payment Pro, fortunately, we have formed partnerships with processors that are a more flexible in their underwriting criteria. From new startups to $1MM+ accounts! They will also board online (eCommerce) merchants as well as in-store (retail) merchants!

Our solutions make the process as painless as possible...and the of the Most Competitive Rates in the Industry!!

Application Process

To get the process started we ask merchants to complete the "pre-application" form and submit it along with your most recent six months of credit card processing statements. If you have fewer than six months of statements, just send us what you have.

We work with several providers and this pre-vetting process will give us the information we need to determine which bank/processor to proceed with. At that point we will follow up with a merchant application, present you with the proposed rates and fees structure, along with the bank's terms and conditions.

What are COA's?

A Certificate of Analysis, or COA, is a document from an accredited laboratory that shows the quantity of various cannabinoids in a product.

Manufacturers should send every batch of every product they make to a lab for testing, to protect their customers and prove that their products have as much CBD as they advertise.

Click Here for more detailed information.

Getting Started is Easy

Pre-App Form

Please complete all fields.

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LOWER RISK CBD

Are some CBD merchants considered "Low Risk"? The short answer is Yes!

Merchants selling only topical CBD products (such as creams, balms, patches, bath bombs, etc.) may qualify for the low risk category.

These merchants may include Chiropractors, Licensed Massage Therapists, Salons and more. And in most cases, these merchants will also qualify for some of our lowest processing rates.

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HIGHER RISK CBD

Merchants selling a wide variety of CBD and/or hemp oil products including such items as: edibles, ingestible, tinctures, isolates, capsules, vape (and more), fall into the high-risk category.

Regardless of whether a merchant is selling topicals only or topicals + ingestible, etc., the application/underwriting process requires a full listing of all CBD/hemp oil products sold, along with the current COA's (Certificates of Analysis) for each product.

Furthermore, the COA's must confirm that the THC content is no higher than allowed by law (currently 0.3%).

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HIGHEST RISK CBD

A large number of merchants selling CBD and hemp oil products are also selling CBD hemp flower and pre-rolled cigs. Most CBD credit card processors do not allow the sale of these highest risk, CBD-related products.

You won't want to risk losing your merchant account privileges if your bank doesn't approve the sale of these products.You won't want to risk losing your merchant account privileges if your bank doesn't approve the sale of these products.

Fortunately, our banking partners will consider boarding merchants that are selling flower and pre-rolls, as long as the COA lab reports indicate the products fall within the legal limits. Of course, all of the other underwriting criteria must pass the bank's review as well.

GETTING STARTED IS EASY

PRE-APP FORM

Please complete all fields.

APPLICATION PROCESS

To get the process started we ask merchants to complete the "pre-application" form and submit it along with your most recent six months of credit card processing statements. If you have fewer than six months of statements, just send us what you have.

We work with several providers and this pre-vetting process will give us the information we need to determine which bank/processor to proceed with. At that point we will follow up with a merchant application, present you with the proposed rates and fees structure, along with the bank's terms and conditions.

WHAT ARE COA'S?

A Certificate of Analysis, or COA, is a document from an accredited laboratory that shows the quantity of various cannabinoids in a product.

Manufacturers should send every batch of every product they make to a lab for testing, to protect their customers and prove that their products have as much CBD as they advertise.

Click Here for more detailed information. 

FDA DISCLAIMER

An FDA disclaimer is required on your website. Here is an example of such disclaimer but be sure to consult with your attorney to include all the necessary verbiage to comply with the current FDA regulations.

EXAMPLE: The statements made regarding these products have not been evaluated by the Food and Drug Administration. The efficacy of these products has not been confirmed by FDA-approved research.

These products are not intended to diagnose, treat, cure or prevent any disease. All information presented here is not meant as a substitute for or alternative to information from healthcare practitioners.

Please consult your healthcare professional about potential interactions or other possible complications before using any product. The Federal Food, Drug, and Cosmetic Act requires this notice.

FDA Disclaimer

An FDA disclaimer is required on your website. Here is an example of such disclaimer but be sure to consult with your attorney to include all the necessary verbiage to comply with the current FDA regulations.

EXAMPLE: The statements made regarding these products have not been evaluated by the Food and Drug Administration. The efficacy of these products has not been confirmed by FDA-approved research.

These products are not intended to diagnose, treat, cure or prevent any disease. All information presented here is not meant as a substitute for or alternative to information from healthcare practitioners.

Please consult your healthcare professional about potential interactions or other possible complications before using any product. The Federal Food, Drug, and Cosmetic Act requires this notice.

Do Not Make Claims!

Merchants should not make any claims to prevent, treat or cure any illness, disease, ailment, or condition, etc., including any blogs, consumer reviews or testimonials.

Gateways and More

Our payment processing services integrate with a wide variety of (PCI compliant) point-of-sale systems, EMV (chip reading) credit card terminals and eCommerce gateways.

Our secure eCommerce gateways integrate with a multitude of shopping carts.

Please rest assured that we can provide the right solution to suit your credit card payment processing needs!

You won't want to risk losing your merchant account privileges if your bank doesn't approve the sale of these products.