Payment Processing for CBD Businesses
Make your CBD products available to sell fast with a Revitpay merchant account. We offer personalized high risk merchant services and payment processing for CBD businesses. Whether online or in-store, your storefront will be outfitted with the latest technology for optimized security and ease.
Revitpay’s CBD merchant partners enjoy:
- Fraud & Chargeback Mitigation
- PCI & Website Compliance
- Payment Processing Options
- Integration Support
- Fast Approvals
- And More…
https://www.revitpay.com/wp-content/uploads/2021/12/hemp-product-credit-card-processing.png
Types of CBD Products & Services
CBD products are made of hemp oil with less than 0.30% THC content. Hemp CBD has no psychoactive properties and is typically used for holistic purposes. Like nutraceuticals, CBD is not strictly regulated and often falsely associated with controlled substances (CBD).
CBD products’ main selling point is their healing properties. Users may see physical and mental benefits from using CBD hemp products.
CBD Oils
CBD Topical Creams
CBD Gummies & Edibles
CBD Sprays
CBD Capsules & Supplements
Beauty & Skincare
Pet Products
Challenges of a CBD BusinessCBD businesses are under a high risk industry faced with uncertainty and change.
CBD hemp is often confused with marijuana hemp. CBD products are legal to sell in most states, but marijuana CBD is a controlled substance. CBD hemp sellers have strict compliance procedures to follow due to this confusion.
States have different laws surrounding legal hemp sales, including age restrictions and type of product. This can make business complicated for CBD eCommerce businesses.
Additionally, any CBD product has to follow the regulations set in the 2018 Farm Bill. This bill allows the FDA to oversee the legal distribution of CBD products.
Revitpay stays up to date on PCI and industry compliance. We walk both new and seasoned CBD merchants through keeping a compliant storefront.
CBD products make health claims that may not apply to every user. This brings in customer disputes whose expectations were not met. The FDA ensures that products have legal amounts of THC, but they don’t evaluate quality.
CBD businesses, like nutraceutical companies, have to be careful in how they market their items to set reasonable expectations for their buyers. Otherwise, the number of returns can be high, which increases the likelihood of chargebacks.
Your CBD products can be the best, but there will always be unsatisfied users. Our technology sets you up with notifications alerting you of incoming disputes. This gives you ample time to resolve the issue and prevent chargebacks.
Traditional banks don’t provide accounts for businesses with reputations, such as those in the CBD industry. Hemp CBD’s recent legalization and associations with marijuana drives banks away from CBD merchants. This is one of the largest reasons why your CBD business has been denied a merchant account.
Revitpay offers fast approvals with a high acceptance rate. Our specialization in high risk businesses is rooted in years of experience and knowledge.
The Top Merchant Account Choice for CBD Businesses
CBD businesses need specialized help that will streamline their business operations. Here is some of what Revitpay offers merchants.
Bank Partners
Revitpay has more than two dozen compliant bank partners that specialize in providing high risk merchant accounts, and some specific to CBD and hemp companies. With us, there’s no need to hunt down a bank – we have that covered for you.
Chargeback Alerts
Fraud detection algorithms will notify merchants when a client files a dispute against them. These disputes become chargeback if they remain unsolved. The chargeback alerts will let you know a few days before a chargeback can be processed so that you can solve the issue with the customer.
Fraud Protection
We provide all of your fraud protection and prevention strategies, including complimentary fraud screenings. We do our best to reduce your chargeback rate to as low as 1% and continue to mitigate your business’s risk.
ACH & eCheck Processing
Provide your clients with additional payment options beyond credit cards. Revitpay offers ACH and eCheck processing, which offers lower interchange fees and security.
Recurring Payments Support
Providing clients with subscription services is easier than ever with Revitpay’s payment gateways. Offer a hands-free experience with a one-time process that secures your customers’ information without hassle.
We Have What You Need
Revitpay can get you fast approval for a merchant account, regardless of your risk level. Our tools and services keep up-to-date with industries so that we can keep your business at the top of its game.