At CBDgateways, our payment processing experts specialize in CBD merchant accounts so that we can help you accept payments for your CBD products for pets using your existing website.
Since we don’t directly approve CBD merchant accounts, but instead facilitate and pair you with them, we can help you find the very best merchant account for your specific needs. We will connect you to the CBD payment processing that fits best for your CBD pet products. If you’d like to know more about how we work with a wide range of CBD-merchant-account providers and can find a home for you, please contact us today. If you’re new to selling CBD for pets, you can learn more about the payment processing side of your business below.
What is CBD for Pets?
CBD for pets is a fast-growing industry, with research continuing to look into the possible benefits for household animals. Most commonly, people purchase CBD products for pets in an effort to relieve chronic pain as they age, a sense of calm (offering anxiety relief), and to help pets maintain their daily routines.
However, we want to underline there is a big caveat. As it stands there are very strict regulations that apply when you sell CBD products – especially when it comes to what you can or cannot claim in terms of the benefits your products may or may not have. This laboratory does a good job of summarizing the dos and don’ts when selling CBD products. We would like to stress that doing your own due diligence is always best, so consult a lawyer and read up on FDA guidelines on what claims to include or avoid.
Specialized payment methods for pet CBD merchants
On the business side of this, business owners that specialize in selling CBD for pets often face challenges that more standard businesses rarely come across. This is why sellers should pay close attention to their customers’ purchase experience and make sure they’re happy with their products.
What you should also be careful to do is reimburse shoppers when appropriate. This is particularly important, as it’s an effective way of avoiding chargebacks – as chargebacks can cause issues with your merchant account over time. It can even cause closed accounts or frozen funds if you’re not using a specialist high-risk merchant account for your CBD for pets business.
What “high-risk” means for you
When you’re selling CBD products you’re running a “high-risk” business, regardless of what type of CBD product you sell. As a result, CBD products for pets are categorized as high-risk by payment processors and financial institutions.
What being “high-risk” means for you is that you’re more likely to face obstacles compared to “standard” businesses, such as credit card chargebacks, frozen funds, or even closed merchant accounts.
Regulations and restrictions influence your processing abilities
Tight regulations and restrictions are naturally a factor as to why financial institutions and credit card issuers categorize CBD businesses, in general, as high-risk.
However, being high-risk doesn’t mean you’re out of options and have to roll the dice on whether you’re able to accept payments or not. You simply have to find specialized payment processing providers who can support your credit card processing needs.
High-risk businesses, like CBD companies that sell pet products, should always find and use a high-risk payment processor that meets their specific needs.
What you can do about being high-risk
Finding suitable credit card processing hasn’t historically been easy for high-risk businesses, and it’s always particularly challenging for new and emerging industries, such as the CBD industry. The main difficulty is that standard payment processing companies are unable or unwilling to offer their services to high-risk businesses. This is because standard processors specialize in processing payments for the majority of businesses. As a result, they’re less able to deal with the higher probability of chargebacks or the tighter regulations that apply to high-risk businesses. This is why a niche payment processor makes a world of difference.
What you should avoid, on the other hand, is relying upon popular options, like Stripe or PayPal. These solutions are suitable for “standard” businesses but their business model is incompatible with the complexities that come with any high-risk merchant.
Instead, using high-risk credit card processing allows CBD merchants and e-commerce sellers to efficiently sell from their platform without worrying about credit card chargebacks or other payment-specific problems. Specialized credit card processing allows high-risk merchants, like CBD sellers, to easily enable customer transactions online.
The payment method you need
CBDgateways will set you up with payment processing that specifically fits high-risk merchants in the CBD market. This way, businesses ranked as high-risk merchants, get a reliable and worry-free payment system. Working with the right kind of high-risk processing will allow you to avoid unsatisfied customers or payment issues.
Standard payment processing systems aren’t set up to handle high-risk product sales. It often results in you running into credit card chargebacks and your customers facing failing payments at the checkout stage. CBDgateways provides businesses that sell CBD for pets with a simple way get high-risk payment processes. We take care of the entire payment process, leaving you, the merchant, without worry.
CBDgateways makes payments simple, giving merchants the option of using e-commerce software such as Wix, Sticky.io, and BigCommerce. At CBDgateways, we’ll set you up with a merchant account and payment gateway that makes it easy to accept payments. We’ll ensure you don’t face any unnecessary payment and checkout difficulties. Your payment processing will give you the reliability you need while allowing you to work with the checkout carts and platforms you’re familiar with and enjoy. As a result, when you’re in the CBD for pets industry you can rest easy knowing that CBDgateways makes your job easier, and ensures that your customers are happy.
Contact us today for simple, accessible CBD-for-pets-friendly merchant accounts and payment gateways.