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Need a CBD Merchant Account?

If your high-risk business happens to be in the CBD industry, we know how frustrating it can be to find payment processors for CBD. When you need to take debit and credit card payments and to have your business run smoothly and efficiently having the right payment processor matters. Finding a high-risk CBD merchant account and CBD merchant processing can be tricky if you don’t know where to start. CBD products and services are considered to be high risk in the online merchant account world due to the nature of how the oil is cultivated; this sends the banks and lenders a red flag and your CBD merchant account is deemed as a high-risk right from the start. This doesn’t mean you’re out of luck when it comes to eCommerce and payment processing online (also known as card-not-present transactions), it just means that you need to choose the right company to handle all your needs for CBD merchant processing.

Finding the proper credit card processing solutions can be difficult to find, and while the CBD oil business has propelled into a billion-dollar industry, we understand that the best way to expand your market is to share your services and products via an online presence.

Double Helix Processing has several CBD merchant processing options for you and we make it simple to obtain a CBD oil merchant account whether your CBD business sells oils, tinctures, edibles, gummies, bath bombs, balms, lip gloss, skin creams and many other innovative products.

Did Your Existing Credit Card Processor Shut Down Your CBD Merchant Account?

You just set up your brand-new website for your CBD oil business, you have an amazing following on social media and are making some great sales through your website via a payment facilitation solution like PayPal, Square, Stripe or any other. But then, just a few months or even weeks later, your merchant account is completely shut down without notice and all sales come to a halt because many of the payment processing companies (like those listed above) consider the CBD oil merchant accounts to be too high of a risk to process. Or maybe you had Elavon before and got shut down and have been frantically searching for a stable CBD processing solution. Maybe you have an expensive offshore solution that is eating into your profit margins or your customers are complaining about the international transaction fees.

You have a lapse in payments coming in and your bank account isn’t getting any bigger. Now you owe your bank more money while you have no money coming in from sales. Your CBD merchant account has been completely frozen, you have no access to the funds, and your customers start going elsewhere.

What a nightmare scenario. As you are reading this you may be well aware of these pain points and many more associated with having a CBD merchant account. Signing up with the right CBD merchant processing company from day one, when you come to Double Helix Processing for your CBD merchant account, you avoid any funds being frozen and your stream of income can just keep rolling in. If you are looking for CBD merchant processing that can offer you competitive rates, you have found the one with Double Helix Processing. It is time to stabilize your CBD company with a processor that understands your needs and has a real solution for you.

Why Does this Matter and How Can Double Helix Processing Help with your CBD Merchant Processing?

When you’re selling CBD oil and other products online and your CBD business starts off with the right merchant account, you increase the prolonged longevity of the account and your payment processing options. The bank’s underwriting or due diligence does not end after the account has been opened. In fact, some aggregate payment processors like PayPal, Stripe, or Square who offer instant approval can freeze or shut down your merchant account once their underwriting process is completed. This means that there is ongoing risk monitoring that is associated with all merchant accounts. So, if an account has been opened under false pretenses or the business model is deemed high risk after the fact, which is almost always the case with CBD oil merchant accounts, you can expect the account to be closed.

You can avoid the headache of starting your CBD merchant processing, getting shut down, and seeking out alternate CBD merchant processors by starting with the right high risk merchant account from the beginning – this will also increase the odds that the acquiring banks will be more lenient when it comes time to approve your merchant account. Double Helix Processing gives free quotes that are quick and painless. Just fill out our simple, online Merchant Account Application to get started.

How Does Being High Risk Affect Your Chances of Getting a CBD Merchant Account?

Certain industries are considered high risk merchants. Businesses that fall in this category typically have very high discount (percentage charged per transaction) rates and have high reserves (aka rolling reserve). A business is usually classified as a high-risk merchant if the industry they’re in has a higher risk of fraud and chargebacks. In the case of being a CBD oil merchant, the high-risk label is typically due to the business being a reputational and legal risk for banks and lenders due to FDA regulations in the US and other laws overseas and being so closely related to a prohibited item like Marijuana.

As a CBD oil merchant, especially for those who want to sell CBD oil online, it’s important to understand that what one credit card processing provider, like those above mentioned aggregate payment processors like Stripe and PayPal, considers high risk, where another specialty bank may view it as acceptable. This is based on each company’s underwriting guidelines. Merchants who offer high risk services or products should consider a provider that specializes in high risk processing industries and can get you a high-risk CBD merchant account.

Businesses that are considered high risk have to know who the right CBD merchant processing providers are. Those high-risk merchant account providers, like Double Helix Processing, that are willing to process transactions for your high-risk business are offering solutions to those merchants like yours in the CBD industry – and for merchants who need a payment gateway for CBD. These CBD payment processors are able to get you set up with debit and credit card processing because they are willing to accept the liability for the increased risk associated with your high-risk business. Because the FDA does not recognize CBD oil as a type of medication, but rather a dietary supplement, your CBD merchant account is considered to be high risk, even though you don’t technically need a prescription to legally purchase or consume CBD in the United States.

And because the CBD oil industry is categorized as high risk, you will need to research high risk CBD payment processing providers. In order to find the best CBD payment processors, like us here at Double Helix Processing, especially since the bigger, well-known mainstream banks will not take on your CBD merchant account to process transactions themselves. The way it works is for a separate legal entity to engage in the payment processing while they, the banks, sign on as strictly the depositor institution.

Why Should You Choose Double Helix Processing?

We understand the unique needs of the different CBD related business types and have established numerous acquiring banking relationships to become your best resource in getting CBD merchant accounts set up and accepting online payments. Our expertise is your ticket to getting the stable processing you need to further your business.