Industries We Serve
We get the CBD industry. Payment Nerds has payment solutions for businesses in the following CBD sectors:
- CBD Oil and Tinctures
- CBD Skincare Products
- CBD for Pets
- CBD Edibles and Beverages
- CBD Pain Relief Products
- Hemp Oil Products
- Vape Products
- CBD Beauty Items
- Hemp-Based Supplements
- And More!
Whether you’re a small CBD shop or a big manufacturer, we have payment systems that will keep your business running smoothly and securely.
Why CBD Businesses Are High Risk to Payment Processors
Let’s be real: the CBD industry has its own set of complications and payment processors know it. Here’s why they consider CBD businesses high risk:
- Regulatory Grey Area: Despite CBD being more accepted, state laws and federal ambiguity is a risk for processors.
- High Chargeback Rate: The CBD industry has a higher than average chargeback and dispute rate due to customer expectations or misunderstandings about the products.
- Product Restrictions: Payment processors need to be careful with restricted products like THC based products even if they are legal in some areas.
- Unstable Banking Relationships: Many CBD businesses have trouble with banking relationships due to the high risk industry.
Why the Right Payment Processor Matters for Your CBD Business
Choosing the right payment processor for your CBD business is more than just about transaction fees. It’s about finding a partner who gets the CBD market.
A good processor will have in-depth knowledge of the regulatory landscape so you can have peace of mind knowing your payment system is fully compliant. Security should be top of mind including fraud protection, encryption and secure storage of customer data.
And the processor should have a support team that gets the CBD industry—whether it’s payment disputes or complicated chargebacks. Seamless integration with your existing systems is key so your business runs smoothly without extra stress.
In the end a good payment processor will save you time, reduce risk and let you focus on growing your CBD business.
What are the different types of merchant accounts for CBD Businesses?
Not all CBD businesses are the same so your payment setup should be custom to your business. Here’s how Payment Nerds makes it easy:
- Retail Merchant Accounts: In-store payments for CBD products, oils, tinctures and edibles.
- Online Merchant Accounts: Allow customers to order CBD products from your website with secure online payments.
- Mobile POS: Take payments on the go, whether you’re at a farmers market or industry events.
- Subscription Billing: If your CBD products are sold regularly (e.g. monthly deliveries) automate the process with our recurring billing solution.
Choosing a Payment Processor for CBD
When choosing a payment processor for your CBD business you need more than just a provider that accepts payments. You need a partner that gets the CBD industry.
Your processor should have robust security features including PCI-DSS compliance, advanced encryption and chargeback prevention. They should also understand the legal complexities around CBD products so they can help you comply with state and federal regulations.
Support is also key—an ideal processor will have a dedicated team to help when you need it. We have expertise in the CBD industry so we can guide you through all aspects of payment processing to make your business run smoothly.
And finally, integration with your existing business infrastructure is important. Whether it’s syncing with your eCommerce platform or accounting system, seamless integration saves time and reduces errors.
What You’ll Need for Merchant Services
Getting started is easy. Here’s what you’ll need to set up your CBD merchant account:
- Photo ID: A government issued ID to verify the business owner.
- Signed Merchant Application: The standard form we use to set up your account.
- Voided Check or Bank Letter: To verify your banking details for transactions.
- Bank Statements: 3 months of statements to show financial stability.
- Processing History: Previous statements to help us understand your business.
- Business Documentation: Any relevant certifications, licenses or proof of compliance.
Software Integrations for Smooth CBD Payment Processing
Payment Nerds integrates with top CBD business platforms to make payment processing easy. These integrations automate invoicing, tracking and reconciliation for your business.
Here are some of the integrations we offer:
- eCommerce Platforms: Sync your payment system with popular eCommerce platforms to make online sales and payments easy.
- Accounting Software: Keep your books up to date with integration between your payment system and accounting software.
- Subscription Management: Automate recurring billing for customers who subscribe to monthly product deliveries.
