While searching for a way to sell your CBD products online, you already know about CBD and its rising popularity. As such, there's an influx of business venturing into the sector, and more ecommerce business owners are exploring payment gateways that allow CBD merchant processing.
However, unlike other sectors, this one is high-risk, and you'll need to be aware of what is required to conduct CBD business transactions legally. Luckily there are providers that take the stress out of the whole process. Here are the reasons your CBD business needs payment processing.
Payment integration is simple
Your payment processor can link your CBD payment methods to your current e-commerce store. They can also combine your payments with other payments in your process. Companies that can provide these services are the ones to do business with since they will be able to support you as your company grows.
The most prevalent payment gateway, API integration, will get used by a major part of CBD payment processors. A significant advantage of using API is that you can control a payment gateway of this type.
The fees are low
When locating a reputable CBD credit card processor, you aren't confined to companies that charge a large upfront cost. More established companies may charge account holders a fee upon registration.
However, many may supply their services for free or low cost. First, consider whether you can afford to pay the percentage your preferred payment gateway will deduct from each transaction. Remember that a credit card could result in a higher fee than a debit card.
Enhanced customer service
The beautiful thing about CBD payment processing services is that they can offer 24/7 troubleshooting and customer care. A reliable service can also help with data security and fraud protection. This service can protect your clients when they buy CBD products online. Personalized customer service is ideal.
If you can't find one, look for one that hires a customer service team to handle calls and emails around the clock. Before choosing, ask a team member how they handle disputes and how fraud protection reduces the likelihood of disputes cropping up.
Presence of reasonable contracts
Not every payment processor will expect you to execute a legally binding contract to do business. In addition, fees and contracts will change amongst companies. So, give yourself ample time to consider which one is appropriate for your CBD business. It is best to avoid organizations that will only form long-term agreements, especially if they do not have enough testimonies to back up their claims.
High-risk accessibility
It's crucial that your CBD payment processor can handle high-risk transactions. This is because the relatively new industry is prone to payment card theft and charge-backs. Only a few CBD payment processing businesses will be ready to handle the risks of this type of transaction because the industry is in legal limbo. Look for a company with substantial experience with organizations working in high-risk industries.
Remember that selling CBD does not have to be fraught with pricey surprises or exorbitant processing fees. CBD credit card processing solutions that are both compliant and economical are available. You need to do your research and choose a partner you can rely on.
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