Widely known as cannabidiol or CBD is gaining popularity because of the rising needs of cannabis products, which also has now become an essential ingredient in a lot of medicines and is said to provide relief from anxiety, depression, and post-traumatic stress disorder. CBD is extracted from marijuana plants and with the potential of growth and profits in this industry, merchants are now eager to expand their businesses internationally.
However, it is true that these products consist of very low levels of psychoactive compounds despite this, CBD-based products have been illegal under federal laws. Fortunately, CBD and hemp products are not just limited to a group of certain individuals now but rather added to a variety of markets. If you are the one excited to expand your business across the borders, it is, however, essential for you to have a High-Risk Merchant Account for your CBD Industry. Unfortunately, categorized as a high-risk industry, it gets difficult for the merchants to process their online payments, and not just this, their high risk of nature also makes them face many challenges while acquiring a merchant account.
But did you know why CBD Industry is considered High-risk?
CBD contains traceable amounts of THC, the psychoactive, pain-killing component of marijuana, because of which the sale and consumption of marijuana remain illegal in many countries. This is why many acquiring banks are unwilling to support such merchants. Other reasons that make CBD a high-risk industry are:
- High chargeback rates
- Legal issues affecting the distribution of the product
- Unsubstantiated claims regarding the efficacy of the products
It is important for the industries to get secured and reliable payment processors which will help you run your business smoothly. No need to look any further. Now, you don’t have to worry anymore. At Paycly, we understand your concern and are here to help you!!!
Benefits of Choosing Paycly Merchant Services to set up your High-Risk Merchant Account
We are known as one of the best payment solutions service providers, and we prioritize your satisfaction. We assist you in any payment-related issues and offer the best-secured payment gateways with the fastest payment processors. Unlike other merchant services providers, you dealing in CBD business will not deter us from delivering you the same high-quality customer service and reliability that all of our merchants receive
- We give merchants the ability to process e-payments from their credit and debit cards
- We offer integration with both retail terminals, virtual terminals, and online shopping carts
- We provide payment processing solution, even for your start-up businesses
- We also offer third party gateway compatibility
- We offer our services at a quiet low yet competitive prices
For businesses that are considered high risk, it is essential to align yourself with the right CBD merchant processing providers. And PayCly is one of the best high-risk merchant account providers that is trusted and proven to process transactions for your high-risk business that too at competitive rates. We discuss thoroughly all your needs and offer custom-tailored solutions to merchants in the CBD oil industry that need a payment gateway for selling their CBD products. Our team is 24*7 available to assist you at any time of the day, and will ensure that the entire process is done securely and as quickly as permitted by our approval window.