Despite the fact that legislation has become favorable regarding any cannabis by-product, but many credit card processors still consider it as a high risk mainly because of its association with cannabis plant of which THC (a psychoactive drug) is also a product. Also, for a long time cannabis products were deemed as federally illegal. Because of these reasons, CBD products are labeled as “high risk” and banks refuse to run the risk of being associated with these CBD merchants and the payment gateway providers (partnered with these banks) don’t have the capability to service these high risk merchant accounts.
Studies have shown that it might help people with schizophrenia and other types of mental disorders by reducing psychotic symptoms. It has also shown anti-tumor effects. In animals, it has shown to prevent the spread of different types of cancer like: breast, prostate, brain, and even lung cancer. Recent research has shown that CBD has the ability to lower high blood pressure. But one of its most studied uses is in treating neurological disorders like epilepsy.
Despite all these benefits, the sale of CBD is questionable and it is considered to be a high risk business by most of the credit card processors.
When you need a Cannabis Merchant account, the last thing you would want to deal with is rejection from your typical payment provider. It’s a real problem for people who sell Cannabinoid Oils and Edibles, and other Marijuana related products.
As the legal landscape has now shifted with the signing of the Farm Bill Act of 2018, it no longer has to be a problem and we can help you facilitate an account, get you up and running and making the profits you should be in no time.
At Canna Group, we are helping countless Merchant’s acquire and maintain Cannabis Credit Card processing solutions without fear of being shut down. We've been able to get Cannabinoid Oil payment gateways approved.
Canna Group LLC is pleased to announce that we have Cannabis merchant processing available for ALL high risk verticals including CBD Retail and eCommerce merchants. This is a Domestic solution with instant deposits if needed, or as slowly as 1-3 days if not.
Obtaining a legitimate CBD Merchant Account has never been easier, we help you dramatically increase your business’s bottom line.
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