Get a CBD Merchant Account Fast and Hassle-Free

Oct 20, 2020

Over the last few years, as CBD has grown in popularity, more and more scientists have jumped into researching the benefits of using this substance for medicinal purposes. So far, they have found that it can help treat conditions like pain, insomnia and anxiety. It has also been found to help suppress seizures by slowing down messages to the brain and decreasing inflammation in the brain.

Cannabidiol (abbreviated CBD) is one of the 113 active cannabinoids identified in cannabis, which offers many benefits without any psychoactive effects. Despite the benefits it has for treating major ailments and illnesses, CBD is considered to be “high risk”. But why?

Why Is CBD Considered High Risk?

Banks and other payment processors consider CBD to be high risk due to the questionable nature of this product. In short, despite its benefits, it is still manufactured from the hemp plant. This label has and continues to be a major hurdle for those hoping to break into the market and seize opportunities.

These businesses’ risk-based reputation makes it incredibly difficult for them to secure the merchant services they need to get started and continue to operate smoothly. For many, getting a CBD payment gateway for a merchant account is simply out of reach. Even if they do endure the hassle of the application process, many are declined over and over again.

The answer? A high-risk merchant account provider that offers a CBD merchant account. The only way to bypass endless paperwork, long wait times and being turned down is to work with a company that is very experienced in the high-risk industry, like EMerchantBroker.

Types of CBD and Products

There are more and more CBD merchants entering the market all the time, selling different kinds of CBD products. EMB works with businesses that sell all types of CBD products, including:

  •       CBD supplements and vitamins
  •       CBD beauty products
  •       CBD oil
  •       CBD pet products
  •       Hemp oil`
  •       CBD vaping oil and pens
  •       CBD edibles
  •       CBD creams and topical treatments
  •       CBD pain-relief sprays
  •       CBD extracts
  •       And more!

Unlike your experiences elsewhere, obtaining a CBD merchant account with EMB couldn’t be more straightforward. The ability to accept credit and debit cards for CBD products begins with a simple online application. Having the following information on-hand will speed up the process even more:

  •       A valid, government-issued ID, such as a driver’s license
  •       A voided check
  •       Three months of the most recent bank statements
  •       Three months of the most recent processing statements, if applicable
  •       A SSN (Social Security Number) or EIN (Employer Identification Number)
  •       Chargebacks must be under 2%
  •       Secure, fully-operational websites

While EMB cannot guarantee all approvals, it does promise a quick and easy application process that can result in approvals in as little as 24 hours.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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