What is CBD Oil?
CBD stands for cannabidiol, which is a naturally occurring component of cannabis. It has no psychoactive properties whatsoever and it is one of the largest produced drugs around the world. CBD is quite commonly used by athletes and people suffering debilitating diseases and health disorders thanks to the various anti-inflammatory properties it has. There are many benefits that can be derived from it, and are also being researched currently. It is also sometimes referred to as CBD-rich hemp oil because the natural properties in the substance are extracted from hemp, another abundant plant that grows in different parts of the world. Currently, hemp oil is considered illegal in a lot of countries, and cannabis itself is a tier-2 drug. The DEA might consider it illegal under federal law, but it is still available in licensed health shops around the country.
Benefits of CBD Usage
- CBD can be a healthier alternative to smoking cigarettes. An experiment identified that people who took CBD whenever they had the urge to smoke saw a decline in the amount of cigarettes they smoked over the next few weeks. Therefore, this can not only help smokers have a safe alternative to tobacco, but also help them cut down on their addiction.
- Acne is a menace that affects everyone around the world. CBD has been known to have anti-inflammatory properties that can cure a person of acne.
- CBD has been known to reduce the development of diabetes in people by 35%. This is achieved due to how CBD can protect insulin carrying pancreatic cells.
- CBD can also help protect and strengthen your blood vessels and improve your body’s capability to prevent blood clotting. This is one of the many reasons why people have heart attacks hence CBD can protect you against heart problems.
Choosing the right Payment Solution
Thanks to the technological growth in the medical industry, there are many new benefits of CBD surfacing. This means that the demand for CBD oil will likely continue to increase in the future. Many USA banks and processors are likely cautious, hesitant, and resistant to provide credit card payment processing to companies that sell CBD Oil because there are risk factors attached to it. If the authorities find any conflicting legal or material discrepancies in the sale and purchase, they can confiscate all the assets of the merchant and shut the company down. However, there is a certain recipe for the CBD Oil product that most companies in 44 states already adhere to. It is therefore crucial for businesses to secure a payment processing solution that will actually approve and support a merchant that sells CBD Oil.
Here are some of the ways to do so.
- Healthy Processing History:
If you have been using merchant accounts, you know how difficult it can be to keep them open due to the high amount of risk associated with them. Keeping a healthy processing history with low to no chargebacks will ensure zero discrepancies as well minimize your risk rate. If you don’t have processing history the bank will still want to get copies of your bank statements for the past three to six months. If you want to pick the right payment solution, you need to make sure the payment solution provider will truly support processing payments for the CBD Oil industry. - Stable or High Processing Volume:
A bank will not easily invest or allow the processing of payments if the investment is not worthwhile. Some solutions require certain processing minimums in order to consider approving the account. Other payment solutions do not require certain processing minimums but do want to see that the account is at least being used each month to process payments. - High Risk Merchant Account:
Moneck Payment Solutions offer payment solutions that support the CBD oil industry with payment solutions for you to sell online and offline. Since your business is always at risk because you are dealing with CBD oil and hemp related products, this company offers specific payment solutions for your industry. With payment solutions like credit card processing and eCheck, please contact us to learn more at 888-405-3093. - Proper Licensing:
Make sure selling CBD oil is legal in your state and attain any required proper state licensing. Proof of a business license to sell CBD oil, if required by your state, can be requested to get approved for any payment processing solution.
Get started with Moneck Payment Solutions today!
Moneck Payment Solutions has a perfect solution for selling CBD oil online (eCommerce) or in retail store. We have the right type of payment solution, both credit card processing and eCheck, that will approve and support merchants that sell CBD Oil. The CBD Oil credit card processing merchant account and the eCheck solution offered through Moneck Payment Solutions is highly compatible with many of the most popular shopping carts, such as Woo Commerce, Big Commerce, Shopify, Magento, etc. Moneck also offers retail stores selling CBD Oil good available options for processing payments.
For more information on payment processing solutions available contact Moneck Payment Solutions at 1-888-405-3093.
