What are the CBD oils? It is common that the usual medical marijuana are products made from plants and its concentrations of TCH is very high, rather than this, CBD oil is an oil derived from the high-CBD and low-THC hemp. Cannabis plant has 85 cannabinoids present but it has only trace amounts of THC, unlike the CBD which dominates the plant’s proportion. With these concentrations, patients can experience a positive balance of effects from CBD without being exposed to the psychoactive “high” of THC.
If you want to run a CBD business you need information about the benefits these products can offer you. Also, you should research the special requirements you’ll need to start your CBD business and moreover, you’ll need to take care of regulations and laws over these products. We at iPayTotal have all the knowledge and ability to help you out in this path.
It is righteous and clear that CBD hemp oil is a natural extract of the common hemp plant, with botanical applications. But there are some legal aspects which make this business category fall under a high level of scrutiny, being recently the CBD oil legality by some governments, facilitating the client’s access to these products. So, there is an increasing number of retailers that are running CBD business, and for this reason, they need CBD merchant accounts to process their payments. We help our clients with their CBD payment process providing them payment processing solutions fixed to their specific needs.
What Makes A Good High-Risk Merchant Account Provider?
Any online business needs a merchant account to process their payments, and due to there are two categories of business we will explain which features need to have the high-risk merchant accounts., which are a group of services to give online business a way to process their payments. If you are a high-risk merchant you’ll have some obstacles to make choices in your processing payments, besides the high fees and rigid contracts. You should consider these factors when you open a merchant account:
Know about the charges: Sometimes this could depend on your business model, and be cautious with the frequency of payment, besides, there could be monthly and/or annual fees, so, it is better to know well about this before decision-making.
It should offer different payment options: A merchant needs customized solutions to offer the best client service, knowing that the specific needs of your business are unique, so, the merchant account that you choose should reflect it. Providers that offer customized solutions give their clients a wide spectrum of options to process their payments.
Contracts: You have security that your contract terms and clauses are specific and clear, the main clause you should take care is about the length of the contract, it is recommendable not be attached to a long-term-unclear-rigid contract, without the chance to change it. Make sure you have flexibility, so this way you will increase your business and works taking care of every step to make sure the right attention.
The provider should offer tools that will help secure your revenue: You should choose a provider with the ability to offer a good quality service meeting the needs of your business model, besides other characteristics unknown. You’ll need also extra features like processing gift cards and fraud protection.
Hardware: You need a provider who offers you the best processing equipment, be careful to assure that your provider has the latest machines and accessories, so you have the most outstanding equipment to process credit card transactions. Wireless terminals, POS systems, accessories, and even paper, in summary, you need custom solutions for your needs to carry out them quickly and efficiently. Also, you need to buy the longest receipt rolls available to spend less time changing paper and more time actually making transactions.
The provider should have excellent customer support: You will need a fantastic customer service which preferably cannot be underestimated, so try to seek the best one. One thing to seek when you want to give exceptional, reliable and readily accessible customer service is that you and your team are able to speak quickly and confident via phone, email, or live chat to fix problem definitely and quickly. So, have in mind that companies need to have a good customer service which is trustworthy.
Need CBD Merchant Account Solutions?
You have to consider that there are different payment processing providers, even when there are several, it doesn’t have the same features, some are better than others. So, you need to seek the best high-risk merchant account services, we recommend you to choose a company whose experience and aligned reputation with your specific business needs and fits in the best way with the requirements for your high-risk business.
Get a CBD merchant account for your business it is not as easy as other type of account, we could say that CBD is more speculative businesses due to the high-risk category where these businesses aren’t tagged, regard to the potential for excessive chargebacks. So, although CBD businesses aren’t like guns businesses, merchants can’t easily go to a bank and ask for a CBD merchant account, because so many financial institutions are cautious to allow CBD businesses open these type of accounts in their underwriting guidelines because there are still some laws and regulations surrounding this industry.
So, said this, you know now that you need the best high-risk merchant account provider, and which better than iPayTotal. Once you open your account with them, you can forget the frustration that may cause bad experience looking for a payment processor. Give your next step and raise your business to the highest level and give your customers a wide spectrum of options to process their online CBD payments.
After submitting your application, iPayTotal team will check the application, which you can complete within minutes online. They are experts rising customers’ expectations, merchant accounts are quickly approved.