QuadraPay A CBD Merchant Account Specialist.
Are you looking for a robust CBD Merchant Account? Then yes, you have come to the right website. QuadraPay has one of the most significant connections regarding CBD oil payment processing. We offer low rates for CBD processing. Our solutions are powered by top acquiring banks that deliver exceptional CBD merchant services experience.
Our processing partners have over a decade of experience in payment processing and has a team of people with a detailed understanding of the CBD industry. Whether you’re looking forward to accepting payments through credit debit cards or even alternate payment processing modes, we know this CBD merchant account will work for you. Our processing partner is already catering to the requirements of various CBD Merchants. The organisation can easily handle integration challenges, and the infrastructure is so robust that it has maintained an excellent system uptime record. The vital infrastructure lowers the transaction risk. Our partner will become one of the best processors for your organisation indeed.
Getting a Direct CBD Payment Processor may sometimes be challenging for merchants, and they may approach aggregators. Based on our understanding, working with direct acquiring institutions is always good. The underwriting and risk analysis can be strict. Still, it helps businesses build a long-term processing relationship at affordable pricing. Our processing partner offers a full stack cbd card processing solution that includes Merchant Account, Payment Gateway and PCI Compliance, all under one roof. The solution is Omni Channel which provides Pay by email, API and Moto features. Suppose you compare these features with aggregated solutions. In that case, you will realise that they may not always offer all the above features. The acquiring Institution with which Quadrapay works also offers various CBD alternative payment processing modes. You can accept payments in multiple currencies and provide your products to customers outside your nation of registration.
High Risk CBD OIl Payment Processing.
CBD Merchant Accounts have always been high risk. Many reasons make this industry a high-risk sector. A few of these reasons are reputation risk and credit risk. Some payment processing Institutions may not be interested in getting associated with the CBD industry for reputational reasons. Few may refrain from onboarding merchants from this industry because of credit risk. Our processing partner has a highly talented team of underwriters. These payment professionals are skilled in analysing the risk profile of merchants. They can monitor accounts proactively and take corrective measures. They prefer to work with merchants with long-term vision and integrity, which we are sure you are.
Apply For CBD Oil Merchant Account Today!
Any business selling CBD products that complies with the rules and regulations set by card schemes, EU and government agencies can apply for this solution. The processing company will ask for documents for underwriting and risk analysis. Merchants who have a company registered in the below-mentioned nations can apply for CBD Oil Merchant Account. Please note that the company must have a physical presence in any of the countries mentioned in the list. To accept the payments from the acquirer, the Merchant must have a bank account in any of the mentioned countries.
Required KYC Documents For High-Risk CBD Merchant Account.
- Company Registration Documents. Our Processing partners require all the company incorporation documents. It includes a registration certificate and any other certificate relevant to merchants’ nation of registration. We have seen better approvals if the merchants also share business plans and sales forecasting. Suppose the company is listed on stock exchanges. In that case, sharing that information helps elevate the reputation, thus reducing reputational risk. If the organisation is large, then an organisational hierarchy also helps.
- Utility Bills Of Company And Directors. These documents are needed to ensure that the Company and Directors are valid residents of the said nation. Merchants generally provide bills like the Internet, telephone, Electricity, and Gas Bill.
- Domain Registration Proof. Since orders will be online, our Processing partners require domain registration proof. It can be an invoice from a domain registrar. Sometimes merchants also provide domain registrar screenshots or whois screenshots.
- Bank Letter Void Check. Once the account is established, our processing partners will send the funds to the Merchant’s business bank account. A void check displays the Merchant’s account name, Number, ABA, and Routing Number. We will need any of these to ensure the banking details are correct and the account is in good shape. If the check is unavailable, then a letter of good standing from the bank can also be used.
- ID Proof Of Directors. Our Processing Partners require National ID Proof. This document must have a photo of the directors. Tax ID Card, Passport, National ID Card or Drivers Licence. Merchants can send any of these documents.
- Lab Certificate Of CBD Products. Our processing partners are comfortable working with CBD Oil Merchants. However, the THC % should be as per the prescribed limit. To ensure that no one violates the card scheme and govt recommendations, merchants must provide a lab certificate for the composition of each product being sold.
- Processing History If Available. We have seen bigger chances of approval if the Merchant provides six months of processing history. Suppose you already accept cards or recently lost access to a merchant account. In that case, you should share the history if possible. The Processing history should show volume, Average ticket value, Return Numbers and Chargeback Numbers. This helps the processor evaluate the risk level involved in onboarding the account. Please do not try to hide history. They may find out after running a few basic investigations. You must share the same if history is with Paypal or Stripe.
- Business And Personal Bank Statement. The statements of Business Account And Personal accounts help the processor to understand how financially stable the business and director are. This also allows the processor to identify the expected business forecast.
Our CBD Processing Partners may ask for additional materials on a topic-by-case basis. Sometimes PSPs may also ask for a legal opinion, especially in a case where the Merchant is expecting traffic from Denmark and NON-EU Nations. The faster you provide the documents to the processing Institution, the better the possibility of you getting the results what You Can Not Sell Using a Payment Gateway For CBD Products.
Show What You Sell, Sell What You Show. You can only sell the products that the payment processing Institution approves. Additionally, you should add new products to the site once you get the required approvals from the acquiring Institution. Communicating regularly with your account manager about adding new products to your website or increasing the monthly projected sales volume is a significant step. It will help if you are transparent with your payment processing institution. This helps in retaining the account for a longer time frame.
Fees Associated With Payment Gateway For CBD.
Our processing partner evaluates every application individually, and based on their internal analysis; they define the prices. The MDR and other charges vary depending upon the Merchant’s risk profile. Undeniably, a startup merchant would probably pay slightly higher fees than a well-established merchant processing high-volume sales. Still, we can say that our processing partner offers affordable pricing to CBD Merchants. Please note that they have their policies and preferences regarding selecting merchants. We strongly recommend that merchants send detailed information about the business to the processing institution at the time of application. Adding a business plan and resume of the people behind your organisation, like significant shareholders and directors, can also positively impact the underwriters’ minds.
FAQ Cbd Credit Card Processing
What Is the Approval Timeline For CBD Merchant Account.
The main business of payment processing institutions is to assist merchants in accepting payments online. There is no reason why they would deliberately delay your application. As an independent contractor, we can say that the delay is primarily because of required changes on the website and the non-availability of all KYC documents. In most cases, your approval time frame should be less than seven working days. In some cases, this can be even faster.
What Are The Advantages Of Using CBD Payment Gateway?
There are multiple advantages of using a payment gateway on your CBD website. You will be able to sell to a broader audience as your customers can easily use their credit or debit cards to make payments. Your customers can make payments on your website, or you can send them to pay by email link. Various online research suggests that by implementing payment gateways and merchant accounts, businesses see an increase in average sales value and monthly sales volume. Once you accept payments online, you will create a payment processing history. A decent processing history will help you secure the account quickly and may also help you in achieving better rates. Plan to switch to another processing company.
What Are Few Supported Shopping Carts?
As mentioned earlier in this article about the experience of our processing partner, we can undoubtedly say that they can integrate the processing solution with well-known shopping carts. The API document is straightforward to understand for technically qualified individuals. Apart from supporting famous shopping carts, they also have detailed API guidelines. Your integration team can work hand in hand with the processor’s technical support team and quickly achieve integration.
Which Is The Best Way To Find a CBD Payment Processor?
We work as an independent sales contractor for various payment processing institutions. Our team has worked hard to identify the correct processors for specific industries. Our approach is very transparent. The moment we get your application, we immediately forward the same to a secure processor already supporting merchants from the CBD industry. When you contact Quadrapay, be assured that you’ll be saving much time as we will directly connect you with a reliable payment processor that may be onboard your business.
Further, you can evaluate the recommended processor. We are sure you would like to be associated with our EU processor. Our US-based echeck payment gateway partners can also offer verified echeck solutions to USA CBD oil merchants.
What Are Our Charges? Why There is No Application Fee With QuadraPay?
It is a question that we usually get from our merchants. The answer is simple. We do not mind ignoring the lust of charging Merchant at the start of our consultation. We believe that a long-term relationship helps all the parties. We always request qualified merchants to send a testimonial once they start processing. In a nutshell, this is the only direct benefit we expect from our merchants. We are sure you will be happy to share your experience once you start processing through our payment processing partner.
Can I Get A CBD Merchant Account In 1 day?
CBD is considered high risk, and thus it requires strict evaluation. This is why merchants do not get approved in 1 day. However, in most cases, if the merchant provides all documents on time, the account may go live in 1 week.
What Is The Alternative To CBD Merchant Account?
There are various other payment modes that CBD merchants can use. Our solutions come with APM processing that allows merchants to accept alternative payment modes for their CBD business.
Does QuadraPay Also Offer Bank Account For CBD Businesses?
CBD merchants find it hard to get banking solutions. Fortunately, there are many high-risk banking options for cbd merchants. QuadraPay can connect you with these banking providers.