Credit Card Processing For CBD

Credit Card Processing For CBD

If you’ve been in the CBD space for a few years now, you’ve dealt with a plethora of online and even in-store credit card processing challenges. This ranges from agents lying or miscoding applications to specific banks without your knowledge only to have your account shutdown within a few weeks after you started to ramp up to horrible offshore solutions without any customer support. We understand these challenges and that’s why payment technology personally consults all possible solutions in the space asking very simple questions that any bank or backend processor should be able to answer. The owners of payment technology believe in this product and want what’s best for each and every CBD client they work with, which is why they only recommend solutions that they’d trust if the roles were reversed.

Currently, there’s only a handful of banks knowingly operating in the United States for compliant CBD businesses. If you’re a physical storefront, we have recommended POS or traditional payment terminals available at cost from our processing partners that arrive pre-programmed, If you’re an online merchant, then we have access to all compliant and secure payment gateways (online terminals) that integrate to every platform possible (Shopify, WordPress/WooCommerce, Magento, Wix, etc.). With our experience, we will provide recommended solutions along with all possible options to ensure you can make the best decision for your business’s needs without being pushed into one specific solution.

CBD Merchant Account Provider – CBD Payment Processing

The CBD industry is in full swing and booming. With the expansion and inevitable growth of the industry, CBD and hemp products are being advertised no longer to a group of certain individuals, but the entire world as a whole.

CBD is derived from hemp and is legal in the US, as long as it contains less than 0.3% THC. However, there’s still much confusion about this industry and these products, which means that you need a merchant services provider specializing in this particular area.

THC Payment Processing for Cannabis Companies in 2020.

payment technology knows there is no greater challenge to the THC/cannabis market than finding secure, cash-free payment processors so your customers can have access to your life changing products. Faced with unfair federal rules that are decades behind the current marketplace, traditional payment options aren’t possible. Likewise, newer options aren’t quite yet ready to jump through all the necessary hoops to get your products in the hands of your customers. Random account shutdowns and ridiculously high fees can leave both legal businesses and their customers in a bind, which is where the importance of cash-free payment processors comes into play.

Apply now for CBD Pre Application

Please include the following documents with all new submissions

******SEND EACH ITEM AS A SEPARATE PDF IN ONE ZIP FILE******

COMPLETED MERCHANT APPLICATION
Signed agreements between ICS/GLPS/FDF and the applicant
VOIDED BUSINESS ACCOUNT CHECK WITH DBA OR LEGAL ENTITY NAME
Bank letter accepted with DBA or Legal entity name, must include account and routing number
(IF EXISTING BUSINESS) 3 MONTHS OF COMPANY BANK STATEMENTS or
(IF NEW BUSINESS) 3 MONTHS PERSONAL BANK STATEMENTS
3 MONTHS PROCESSING STATEMENTS FOR ALL ACCOUNTS IF CURRENTLY PROCESSING or PROCESSED RECENTLY
Standard merchant statement accepted, also Square/Stripe Excel/CSV file accepted
DRIVER LICENSE FOR ALL OWNERS / PRINCIPAL SIGNERS
Any owner with 10% of more ownership needs to be listed on application. ID provided for beneficial owners
ARTICLES OF INCORPORATION / LLC
Articles of Formation, Organization, or Incorporation
STATE ISSUED BUSINESS LICENSE OR TAX PERMIT
CURRENT UTILITY BILL WITH BUSINESS ADDRESS
Any utility bill or lease agreement
PROOF OF DOMAIN OWNERSHIP
Screenshot of your registration profile is sufficient or copy of WhoIs information if no URL privacy is on.
URL / WEBSITE MUST HAVE FOLLOWING LISTED:
Please make sure to provide links on here or comments on application if not clearly visible on website
  • PRIVACY POLICY LINK:
  • REFUND POLICY LINK:
  • TERMS & CONDITIONS LINK:
  • WEBSITE MUST BE COMPLETE AND PUBLISHED
  • DISCLAIMER FOR “NO THC” OR “xx.xx% OF THC CONTENT OR LESS” QUESTIONABLE HEALTH CLAIMS
    No health claims can be made regardless of the disclaimer posted.
PROOF OF DOMAIN OWNERSHIP
Excel/CSV format is acceptable
COA (CERTIFICATE OF ANALYSIS) FOR EVERY PRODUCT SOLD ONLINE. ALSO KNOWN AS LAB RESULT/TEST
All COAs provided must match the end product in its final state that is being sold on the website; not just the CBD isolate used to make the products. This means you need to save each individual COA PDF with the exact product name that’s on your site for easy review.

Testing needs to be completed by approved and accredited third-party laboratory.

COAs must show a full contaminant test was conducted, including Heavy Metals, Microbials, Pesticides, and Solvents (if applicable) for all products meant for human use. Not just THC levels.

Even if your State does not require you to have a full spectrum test, if you are selling online to other states that do require it a correct test needs to be provided to meet the compliance as we default to the highest degree of standards