CBD Merchant Accounts In Europe for CBD Oil
Also works for CBD Drops, Gel, Capsules, Vape, Extracts, Cream, Tea, and Shampoo.
Are you searching for a CBD Merchant Account in Europe that offers high availability, low rates, and fast approval? Quadrapay recently got a yes from a well-known processor that we consider as one of the best payment processing institution for CBD oil and related products. The solution is robust and is cost-effective. Our processing partner has 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 modes of payment our processing we know that this CBD merchant account will work for you. Our partner will become one of the best processors for your organisation indeed. Our processing partner is already catering to the requirements of various CBD Merchants in Europe. The organisation is can easily handle integration challenges, and the infrastructure is so robust that they have maintained an excellent record of system up-time. The robust infrastructure lowers the transaction risk.
Is This The Best CBD Merchant Account Solution.
Getting a direct CBD Merchant account may sometimes be challenging for merchants, and they may approach aggregators. Based on our understanding it is always good to work with direct acquiring institutions. The underwriting and risk analysis can be strict, but it eventually helps businesses in building a long-term processing relationship at affordable pricing. Our processing partner offers a full stack solution that includes Merchant Account, Payment Gateway and PCI Compliance all under one roof. The solution is Omni Channel that provides Pay by email, API and Moto feature. If you compare these features with aggregated solutions, then you will realise that they may not always offer all the features mentioned above. The acquiring institution with which Quadrapay works also offers various alternative modes of payment processing. You can accept payments in multiple currencies and can provide your products to customers located outside your nation of registration.
Why It Is High Risk To Offer CBD Merchant Account In 2020.
CBD Merchant Accounts have always been high risk. Many reasons make this industry a high-risk sector. Few of these reasons are reputation risk and credit risk. Some payment processing Institutions may not be interested in getting associated with CBD industry for reputational reasons. Few may refrain from on-boarding 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 have the ability to monitor accounts proactively and taking corrective measures. Having said that they prefer to work with merchants with long term vision and integrity which we are sure you are.
Who Can Apply For CBD Oil Merchant Account
Any business selling CBD products that complies to the rules and regulations set by card schemes, EU and government agencies can apply for this solution. The processing company will ask for a set of documents for underwriting and risk analysis. Merchants who have 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.
Supported Countries For CBD Oil Payment Gateway.
Merchants registered in any of the following nations can apply. Austria, Hungary, Romania, Belgium, Iceland, Slovakia, Bulgaria, Ireland, Slovenia, Cyprus, Italy, Spain, Czech Republic, Latvia, Sweden, Denmark, Liechtenstein, The Netherlands, Estonia, Lithuania, United Kingdom, France, Luxembourg, Finland, Norway, Germany, Poland, Greece, Portugal, Gibraltar, Isle of Man and Croatia.
If your business is registered in any of the countries mentioned above, then you can undoubtedly apply for CBD Oil Payment Gateway. You will be assigned a dedicated account manager once the acquiring Institution approves your account.
Required KYC Documents For High-Risk CBD Merchant Account
Our Processing partners require all the company incorporation documents. This includes registration certificate and any other certificate that is relevant to merchants nation of registration. We have seen better approvals if the merchants also shares business plan and sales forecasting. If the organisation is large then an organisational hierarchy also helps. If the company is listed on stock exchanges then sharing that information helps in elevating the reputation thus reduces reputational risk.
To Ensure that the Company and Directors are valid residents of the said nation these documents are needed. Bills like Internet, telephone, Electricity, Gas Bill are generally provided by merchants.
Since all orders will be placed online our Processing partners require a proof of domain registration. This can be an invoice from domain registrar. Sometimes merchants also provide domain registrar screenshot or whois screenshot.
Once the account is established our processing partners will send the funds to merchants business bank account. To ensure the banking details are correct and the account is in good shape we will need any of these. A void check that displays merchants account name, Number , ABA, Routing Number. If the check is not available then a letter of good standing from the bank can also be used.
Our Processing Partners require National ID Proof. This document must have photo of directors. Merchants can send any of these documents. Tax ID Card, Passport, National ID Card or Drivers Licence.
Our EU/EEA Based High Risk Processing Partners are comfortable in working with CBD Oil Merchants. However the THC % should not be over 0.2%. To ensure that no one violates the card scheme and govt recommendations merchants must provide a lab certificate for composition of each product being sold.
We have seen bigger chances of approval if the merchant provides 6 months processing history. If you are already accepting cards or recently lost access to a merchant account then 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 to evaluate the level of risk involved in on-boarding the account. Please do not try to hide past history. They may find out after running few basic investigations. Even if history is with Paypal or Strip you must share the same.
The statements of Business Account And Personal Account helps the processor to understand how financially stable the business and director is. This also helps the processor identify the expected business forecast.
Sometimes PSPs may also ask for legal opinion specially in a case where merchant is expecting traffic from Denmark and NON EU Nations. Additional materials on a case by case basis may be asked by our EU CBD Processing Partners. The faster you provide the documents to the processing Institution the possibilities of you getting the results will be better.
What You Can Not Sell Using Payment Gateway For CBD Products.
Show What You Sell, Sell What You Show. You can only sell the products that are approved by the payment processing Institution. Along with this, you should add new products to the site once you get required approvals from the acquiring institution. It is a significant step to have regular communication with your account manager about adding new products to your website or increasing the monthly projected sales volume. 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
The MDR and other charges vary depending upon merchants risk profile. It is an undeniable fact that a startup merchant would probably pay slightly higher fees than a well-established merchant processing high volume sales. Our processing partner evaluates every application individually and based on their internal analysis they define the prices. Still, we can say that our processing partner offers affordable pricing to CBD Merchants. Having said that please note that they have their policies and preferences about selecting merchants. We strongly recommend merchants to 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 create a positive impact in the minds of the underwriters.
Merchant Account For CBD Approval Timeline
The main business of payment processing institution 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 most of the time the delay is because of required changes on the website and non-availability of all KYC documents. Your approval time frame should be less than seven working days in most of the cases. In some cases, this can be even faster.
Advantages Of Using CBD Payment Gateway In UK And Other EU Nations.
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 for making payments. Your customers can make payments on your website, or you can send them pay by email link. Various online research suggest that by implementing payment gateways and merchant accounts business see an increase in average sales value as well as monthly sales volume. Once you start accepting payments online, you will be creating a payment processing history. If you plan to switch to another processing company, then a decent processing history will undoubtedly help you in securing the account quickly and may also help you in achieving better rates.
Supported Shopping Carts
As mentioned earlier in this article about the experience of our processing partner we can undoubtedly say that they have the ability to integrate the processing solution with well-known shopping carts. 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 can quickly achieve integration. The API document is straightforward to understand for technically qualified individuals.
Finding a CBD Payment Processor. Quadrapay Will Make It Easy.
We work as an independent sales contractor for various payment processing institution. Our team has already done the hard work that involves identifying correct processors for specific industries. When you contact Quadrapay be assured that you’ll be saving much time as we will be directly connecting you with the reliable payment processor that may on-board your business. Our approach is very transparent. The moment we get your application we immediately forward the same to a secure processor who is already supporting merchants from the CBD industry. Further, you can evaluate the recommended processor. We are sure that you will 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 in the start for our consultation. We believe that a long term relationship helps all the parties. We always request qualified merchants to send as a testimonial once they start processing. In a nutshell this is the only direct benefit which we expect for our merchants. We are sure that you will be happy to share your experience once you start processing through our payment processing partner.