With our payment processing experts, specializing in CBD merchant accounts, we can help you accept payments for your CBD tinctures 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 processor that is the best fit for your CBD tincture sales. If you’d like to know more about how we work with a wide range of CBD-merchant-account acquiring banks and can find a home for your products, please contact us today. If you’re new to selling CBD tinctures, you can learn more about the payment processing side of your business below.
What is a CBD Tincture?
CBD products come in a variety of forms, one of them being tinctures, not to be confused with CBD oils. Even though the term “CBD tincture” is often used interchangeably with “CBD oil,” they’re actually very different products. According to healthline.com, “tinctures are made by soaking cannabis in alcohol, while oils are made by suspending CBD in a carrier oil, like olive or coconut oil.”
Specialized Payment Methods
All merchants, regardless of industry, face challenges that customers are unaware of. For instance, when choosing financial technology and payment solutions, merchants and sellers need to provide customers with a smooth payment experience while making sure those funds reliably arrive in their bank accounts. This credit card transaction process is a crucial part of running any business.
Specific to the CBD industry, sellers of CBD tinctures face hurdles that more “standard” e-commerce stores don’t. Since tinctures are a CBD-based product, it’s a tightly regulated product type. Traditional payment processing companies label CBD products as high-risk. They’re also often either unwilling or unable to work with CBD businesses because of the likely challenges they bring with them.
However, this doesn’t mean that you should settle for whatever payment provider offers you their services. Even as a high-risk business, you have options. There are companies that can and want to work alongside CBD merchants to allow smooth payment processing transactions for customers. What you need is simply to find a merchant account and payment gateway provider that specializes in working with high-risk businesses. Ideally, you want someone that specializes in CBD – specifically.
Why are CBD products high-risk?
The CBD industry faces tighter restrictions than more “standard” businesses do. As a consequence, when you sell CBD tinctures, you’re selling a product that falls under the high-risk label. This is also why CBD business owners often find that they’re an unwanted partner for large payment processing corporations.
This is one of many reasons why it’s critical that your CBD e-commerce store uses suitable, CBD-friendly payment processing systems and merchant accounts that allow you to efficiently run your online business.
Some of the everyday challenges high-risk sellers face include credit card chargebacks, failed transactions, or closed merchant accounts.
What you can do to accept payments for CBD tinctures
As a high-risk business owner, you have options. That said, it’s important to avoid more standard payment processors and merchant accounts such as Stripe or PayPal. Although these names are well-known, they are not usually capable of dealing with the challenges presented by the CBD industry.
Instead, working with a dedicated, CBD specialist payment processor who focuses solely on high-risk accounts is a much safer route. With this kind of expertise at your beck and call, your CBD customers will experience a seamless transaction process. Among the benefits, you’re far less likely to experience chargebacks or frozen funds. Specialized credit card processing allows CBD sales to be conducted efficiently and securely.
CBDgateways provides businesses in the CBD industry with merchant options to find a payment processor that will work with and for you. You can rest easy by trusting CBDgateways to set your business up with a provider you can rely on to get the job done.
CBD payment processing and merchant account options
For CBD tincture sellers, CBDgateways offers straightforward and practical solutions to daily challenges. We’ll help find your business a CBD-friendly payment gateway and merchant account that suits your exact needs in the high-risk space.
A CBD payment processor will help to ensure you don’t face sudden account shutdowns while minimizing the risk of failed transactions.
CBDgateways makes using e-commerce platforms, like Shopify and Wix, simple – even for businesses considered high-risk. Contact CBDgateways today and we’ll set you up with a merchant account and payment gateway which will make sure the transactions go through reliably, all while using the platform and cart you’re already familiar with.
Contact us today for a simple, accessible CBD tincture-friendly merchant account and payment gateway.