eCheck Processing For Hemp & CBD Oil Businesses
For a variety of reasons, many credit card processors and other payment firms refuse to accept CBD-related businesses…
Because of its link to hemp and THC, CBD oil is subject to a complex and ever-changing legal environment in the United States. As a result, in order for a sponsor bank to promote the industry, it must first comprehend it and then maintain a close check on it. Many banks and processors are adamantly opposed.
Because CBD Oil is still relatively new, there are varying levels of quality in CBD-based goods, increasing the risk of chargebacks for credit card processors and other payment method providers.
Finally, CBD oils, lotions, and other similar items are relatively new. Many sponsor banks, credit card processors, and payment providers have simply not modified their underwriting procedures to reflect these new products as a result.
eDataPay, on the other hand, is happy to provide eCheck processing to the hemp and CBD oil industries. We can securely support hemp-based CBD-related enterprises because of our extensive contacts with processors and sponsor banks who specialize in underwriting businesses that are viewed as “high risk.” Furthermore, we are familiar with the application and underwriting problems that CBD firms frequently face, and we can help make the approval and setup process as simple as possible.
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