Get a CBD Merchant Account Without Added Strain
The CBD industry is a budding market thanks to recent changes in laws and public perception. As CBD continues to move deeper into the mainstream, savvy entrepreneurs are getting in on the financial action.
How to get a CBD merchant account?
Obtaining a merchant account for CBD business isn’t like getting one for other, less speculative businesses. These businesses aren’t just high-risk because of the industry but because of the potential for excessive chargebacks. That’s why CBD business owners can’t walk into a bank and ask for an account to process credit and debit cards. Sponsor banks must allow CBD businesses in their underwriting guidelines for them to be approved for merchant accounts. Due to the controversy and legal unknowns surrounding this industry, many of the world’s largest and well-known banks won’t allow processors to underwrite these types of risky businesses.Apply for a merchant account
Payment solutions specialized for travel industries
Secure chargeback protection
Ensure a seamless checkout experience that allows you to confidently take reservations online or over the phone, backed with fraud filters to keep chargebacks under 2%.
Secure payment gateways
Customers feel comfortable planning their next getaway with websites that stay within PCI compliance and keep their private information safe during large transactions.
Expand your travel business online by putting our integration partnerships to work on your website. Explore Shopify, Wix, Applepay, and more!
Flexible processing caps
Expand your travel business in just 3 months with adjustable high-volume credit card processing. Our experts are happy to increase processing volumes!
Merchant Accounts for All Types 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!
What’s Required to Get a CBD Merchant Account
Begin accepting credit and debit cards for CBD products today by filling out EMB’s simple online application. To swiftly move the process along, businesses need to make the following documents available to processors and underwriters:
- 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
EMB guarantees no approvals, but it does promise a quick and easy application process that can result in approvals in as few as 24 hours.Apply now
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Chargebacks inform credit processors with an instant notification when charges are disputed by customers. This way, the seller has sufficient time to present adequate evidence of authorization and other details to the host bank, processor, and buyer’s bank. To avoid undue friction, timeshare sellers must do everything possible to dispute any unwarranted chargebacks. This protects timeshare sellers from receiving higher chargeback ratios, which can, in turn, lead to inconvenient account issues including closure. Even though the travel industry is a very popular one, the substantial costs associated with travel make it a risk for credit processors. Additionally, when real chargebacks do occur, the average amounts are often much higher than in other industries. Additionally, timeshare sellers and other travel workers also face issues with the substantial amount of time that elapses between when timeshares are purchased and used. In the months or years that follow, many customers end up experiencing life changes that cause them to try to request their money back.
EMB offers each of its merchants a wide array of powerful tools that can be used to fight against fraud. This software considered hundreds of data points on transactions to instantly detect fraud. Additionally, timeshare sellers can adjust filters to meet additional needs and even set up automatic suspensions or declines.
No matter if you’re new or experienced in the timeshare industry, EMB offers various services and features that will help you make the most of your business. These include flexible transaction caps and quick application reviews.
Once you’ve started to accept payments as a timeshare seller, you should begin to utilize various tactics to avoid being labeled high-risk. One of the best techniques is to communicate with vacationers clearly and positively. You should also make sure that each consumer reviews critical details about cancellation policies and refunds before purchasing a timeshare. You should also make sure to send receipts with easily identifiable credit card charges that include your company’s name and contact phone number. This should lead to a much lower number of chargebacks.
Yes! EMB absolutely can help you accept ACH and eCheck payments, which lets merchants provide services to purchasers who choose to pay directly from their bank accounts. Many timeshare companies have discovered that accepting these payments has exponentially increased their sales. This is because accepting these payments widens the customer base to include people who tend not to carry a great deal of credit or who choose not to use credit cards.
Merchants sometimes encounter difficulty opening timeshare merchant accounts with U.S. Banks. In these cases, EMB has helped timeshare sellers with offshore banks, which are routinely not limited by the same trading restrictions as U.S. banks.
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.
Still have questions?
If you can’t find the answer you’re looking for, please reach out and chat with our team.Get in touch