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Gateway/Merchant Account for Hemp/CBD Oil

by moneyblogger
9 replies
  • ECOMMERCE
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I am selling hemp/CBD products.


I am having a difficult time finding someone to process charge cards for the hemp/CBD products. Stripe cancelled my account - Paypal cancelled my business account.


I found an offshore merchant (China) who wanted $2,000.00 escrow deposit to start. I have another company who wants 7.95% of each order plus $200.00 a month to use their service, plus a $495.00 cancellation fee.


Does anyone have any suggestions or experience in this area?


Thanks.


Jill
#account #gateway or merchant #hemp or cbd #oil
  • Profile picture of the author violet0176
    Can't you appeal Paypal? Hemp/CBD is legal, not sure why the restrictions.

    Contact your distributor's accounting dept directly, explain the situation and ask which merchant they are using or ask for a list of permitted merchants.
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  • Profile picture of the author moneyblogger
    Violet - thank you for your response. Paypal is VERY strict. You know and I know that Hemp/CBD is legal, but they haven't let up on their restrictions.


    I contacted my distributor and asked who they use. I was told it is proprietary information - in other words, they're not going to tell me. Stupid - I know. But, that's the way it is.


    If you have any other suggestions, I would welcome them.


    Thanks for replying.
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    • Profile picture of the author violet0176
      Originally Posted by moneyblogger View Post

      Violet - thank you for your response. Paypal is VERY strict. You know and I know that Hemp/CBD is legal, but they haven't let up on their restrictions.


      I contacted my distributor and asked who they use. I was told it is proprietary information - in other words, they're not going to tell me. Stupid - I know. But, that's the way it is.


      If you have any other suggestions, I would welcome them.


      Thanks for replying.
      Proprietary? Is your Supplier also selling the product to a public customer base? In other words are you competing with your Supplier? Find a Distributor that only sells B2B and you should have better cooperation as B2Bs generally want their Resellers to succeed.
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      • Profile picture of the author mkfent
        Banned
        [DELETED]
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        • Profile picture of the author moneyblogger
          Thanks Marvin, I'll check them out.
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          • Profile picture of the author jhill247
            There are VERY few US processors who will underwrite hemp/CBD oil...has to do with banking. You're best off with a non-US processor, but would will be paying the high rates you mentioned. It's considered very high risk.
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  • Profile picture of the author violet0176
    CBD oil is being sold all over ebay and payments are processed with Paypal.
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  • Profile picture of the author rapidtronics
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    • Profile picture of the author moneyblogger
      Rapidtronics,

      May I telephone you? Or, send you an e-mail?

      Now, the proposed charge card supplier bank has informed me I have a $250.00 charge card limit. Huh? I have the 10 grams of Gold Oil listed for $399.00!!!


      I need to know how long you have been using Amazon for your charges.


      Thanks.


      Jill
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  • Profile picture of the author noblepay
    Not sure if you're still seeking help on this? I have a new CBD oil relationship if you're interested.

    I've been in the payments industry for over 20 years and have developed phenomenal agent relationships specifically for what is considered harder to place accounts.

    What I've learned is that not all processors are the same and many times merchants find themselves working with a group that isn't right for their business type.

    This means I can save you lots of wasted time by pointing you in the best direction to succeed.

    I can show you how to protect yourself from charge backs by being transparent with your clients and setting proper buying expectations.

    I will personally review your ordering system, your terms & conditions as well your contracts and make recommendations to make sure you're not exposing yourself.

    Once this is accomplished; I can make recommendations on which processor will be best for your situation and assist you with signing up for service though one of my agent relationships.

    The merchant account services will be provided by one of the processors I work with above.
    As your agent,

    I have a vested interest in your success and will be working closely with you and the processor for as long as you continue your processing relationship.
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  • Profile picture of the author stillslow34
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    • Profile picture of the author moneyblogger
      Originally Posted by stillslow34 View Post

      did you have any luck finding a merchant!

      *yes i know this thread is old but just checking

      thanks

      I signed up with Authorize.net, had to change the coding for all the products and then they charged me for the account which was still in test mode. I cancelled the account. I gave up with the CBD for now. I am soo disgusted. I spent a year on this. I'm going with an MLM product now - liquid oxygen to see if I can get anywhere! Thanks for your inquiry. I appreciate it.
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