Speaking to their owner Warren, they stated:
Even when asking around products that contained zero THC, the answer was a no.
“PayPal has no further comment to add on this.”
“We do process payments for CBD based products, as long as it contains less than 0.2% THC and the application is quite thorough.”
This is unfortunately another roadblock, as Stripe have stated the following:
They claim to have a 100% approval rate, which is relieving for many brands that work in a supposed ‘high risk’ area such as CBD. The brand has a strong reputation for working with brands within gambling and adult entertainment, as well as CBD.
Launched in 2009, this company is a full merchant service solution provider, while they offer their services to CBD brands.
It is no secret that marketing CBD continues to rise in popularity. It has become a billion-dollar industry and is projected to keep growing. As the industry advances, so does the demand for high risk credit card processing solutions. Many CBD merchants and sellers often face challenges in securing the payment processing solutions they need for their CBD products.
Luckily, PayKings specializes in helping companies like yours establish viable credit card payment processing. PayKings developers are skilled in WordPress, WooCommerce and hundreds of other builders and will expertly get your site ready to process your CBD oil products.
If your CBD merchant account was declined, we know how stressful that is for a business owner. One of the biggest hurdles to overcome when selling CBD oil products online is finding a merchant account with a CBD oil solution for your needs. Now the actual work starts. As we have discussed, selling CBD oil online requires more regulation and safety than your typical payment gateway or traditional merchant account. This is precisely why selling CBD oil is referred to as “high risk ” from the eCommerce market. CBD is not alone on this hurdle, as several other high risk industries fall into this category of needing a high risk merchant account
Sell CBD Oil? Know the Law and Find an Attorney
Many CBD merchants automatically turn to Amazon as a place to sell their CBD products. It is a logical assumption that using one of the largest online retailers in the world to sell CBD oil or CBD vape juice may seem like the most beneficial and obvious choice – but in answering the question “does Amazon sell CBD oil” – the short answer is no.
Some other products include concentrates which use high percentages of CBD oil. Similar to supplements, CBD can be sold in the form of capsules and are an option for those who do not smoke or use oils. CBD vape oil is as popular as vaping and CBD vape juice popularity continues to rise.
In May, the Food and Drug Administration hosted a hearing on CBD regulation and legislation to collect scientific data, discussion solutions to regulation concerns, CBD product quality, and safety concerns for the public. This hearing was a big step in the right direction for the CBD industry as a whole which could eventually lead to ease in payment processing in the future for the CBD eCommerce industry.
One thing is for sure, in this sector, it’s notoriously hard to become a CBD seller and merchant. Whether selling CBD oil vape juice products online or selling CBD oil from your own home – regardless of your strategy to sell CBD oil, you will first need to find reliable credit card payment processing.