European CBD Oil Credit Card Payment Processing. Quadrapay Guide.
European CBD payment processing solution is available to businesses in any of the nations located within the European Union or European economic area. Small, Medium and Large companies selling CBD Oil and other related items can take advantage of these processing solutions. Unfortunately in other parts of the world getting approval for CBD Merchant account is still a difficult task. We are optimistic that in the coming years there may be some changes that will eventually assist merchants from Non-EU countries. Countries like the United Kingdom, Austria, Switzerland, Germany are already gung-ho about this industry. As a consultant, we can undoubtedly say that this industry has unique potential. If you are a merchant operating in this sector, then it is the right time for you to approach the correct payment gateway provider for CBD business. In this small article, we will touch upon a few essential factors that will help you to secure the right credit card processor for your business.
Who Can Qualify For CBD Credit Card Processing In EU/EEA?
A few years ago International merchants used to register nominee corporations in EU and through these they were able to secure European merchant accounts. Unfortunately, now that option is no longer available. To qualify for a CBD Credit Card processing account in the European Union, the directors must be from the same zone that means either from the European Union or European economic area. These directors should be the actual director and not nominee directors. The business must have a physical presence in the same zone. The bank account which will receive the funding from the merchant account acquirer should be within the European Union /EEA.
If your organization fulfils the criteria mentioned above, then there is a considerable possibility that direct acquiring institutions would be interested in evaluating your application.
Critical Factors In Relation With Approval Of CBD Payment Gateway In EU.
These factors that we are going to mention will play a significant role in increasing the possibilities of account approval. Let’s look at them one by one.
- CBD Oil Website Status. Your eCommerce store must be ready and must resolve on a fully qualified domain name. It means urls like subdomains and subfolders will not work. The website should be under the company’s name. Credit Card Processing institutions will require the “Whoiscertificate” for the site.
- Be Careful With The Content And Images. Selling marijuana seeds or marijuana leaves online is different from selling CBD oil. Your website should not have images or content related to Marijuana, marijuana leaves, and Cannabis seeds. Your products should also not have pictures and content related to the above-stated Marijuana associated substances. Processing firms have to follow various guidelines. They do not wish to work with organizations that promote the sales of marijuana seeds or cannabis leaves. A perfect website is the one that talks about the actual product, features, benefits, composition, and certifications.
- Terms And Condition/Policies. Every e-commerce website must have a few mandatory policy pages. These are listed below.
- Terms and Condition
- Refund Policy
- Shipping Policy
The policy pages must be updated on your website and should be visible to your buyers. The language used in these policy pages should be easy to understand. Your shipping policy should give clear information about how many days it takes for the product to be shipped to the customer. Which countries do you support in terms of shipping?
- Lab Report. If it is not confidential, then you can display the lab report the CBD oil product that confirms that your products do not have the THC concentration over the specified limit(0.2%) that is approved by the European Union and EEA for sales. It will help processors to generate more trust in you and will also assist your buyers in creating more faith in the product.
- Legal Opinion. Processing firms that offer solutions to CBD oil merchants in European union may require a legal opinion about the concentration percentage of thc. You can display this legal opinion on your website and also share the link of the same to the processing firm at the time of application.
- Business Plan. It is always an optional requirement in most of the cases. Having said that it always helps to attach a business plan with your merchant account application. Your business plan should talk about the people behind the brand and its funding source. Your projection of sales in the coming years. It does not have to be a very long business plan, but a 5- 6-page document should be excellent.
- Previous Credit Card Processing History. If you are already processing CBD sales through an existing merchant account provider in the European Union, then it will be great if you share the recent processing statements will the new acquirer. The acquiring institution may be able to offer you better pricing as well as higher monthly sales volume limit.
- Contact Information Display. As a responsive e-commerce store owner, you should display the company’s address, phone number, and email on your website. The contact information helps customers to reach the merchant easily, and this eventually helps in reducing the return and chargeback ratio.
- Logos Of Well-Known Credit Card Brands. CBD oil processing firms may require you to put logos of well-known credit card brands on your business website. This also helps your buyers as they will know which card brand is accepted on your website.
- Social Media Presence Of Your CBD Brand. Sometimes startup merchants forget adding the links of the social media pages on the site. If your website shows that your company operates social media pages, then these links should be connected appropriately. Broken links create a negative impact on the minds of the underwriters. These products are usually B2C products, and that is why having a solid social media strategy will help your businesses secure more sales. Your company should have pages on Twitter, Facebook, and LinkedIn to name a few. These social media handles must be connected to your business website. Social media pages should have the details about your company and also have the contact information. All these things help underwriters in understanding your business model correctly.
- Website Traffic For CBD Oil Sales. Most of the credit card processing companies that we work with actually charge low transaction fees. This means that they make a small profit. If the merchant’s website has hardly any traffic, then the chances are that these processors may feel that the merchant will not bring any benefits to the acquiring institution. We recommend you to generate some traffic to your website while you are approaching the processing Institution. You can generate traffic naturally by creating quality content on your website’s blog and also on your company’s social media pages.
Payments Solutions For USA Based CBD Oil Merchants.
Since credit card acquiring companies in USA are still not very much comfortable in on-boarding merchants from this industry we recommend USA merchants to evaluate echeck gateway payment options. Echeck and ACH solutions are the only robust option for this industry in The United States of America. Our echeck processing partners are comfortable in evaluating the applications of USA based CBD oil merchants.
How Quadrapay Will Assist You With CBD Payment Gateway In EU.
As mentioned earlier we work with various partner processing institutions. Some of these are direct acquiring institutions, and they offer low rate payment processing to European merchants that sell CBD Oil, Cream, Gel, drops, etc. We will be happy to help you with the application and integration process. We do not charge any fees from merchants. That means there is no application fee. Start your merchant account application today by filling this pre-application form. You can also send us an email on [email protected].