CBD (Cannabidiol) is a compound present in the Cannabis sativa plant, which is commonly referred to as hemp or cannabis. It is used in a prescription form to treat epilepsy. CBD is also used to treat anxiety, pain, dystonia (a muscular issue), Parkinson’s disease, Crohn’s disease, and a variety of other disorders. CBD oil is growing in popularity in the United Kingdom and around the world.
Mostly the CBD and hemp oil are sold using e-commerce platforms and with the nature and risk of the product, it becomes imperative to have a correct payment gateway system where Radiant Pay comes into the picture providing Robust payment gateway solutions and CBD merchant accounts in the UK and Europe tailor-made as the business demands.
As CBD i.e cannabis is a salient plant it has different regulations in different countries. Businesses that sell CBD online find it difficult to find secure merchant processing. Popular payment processor like Paypal and Stripe does not encourage their bank to deal in cannabis products. Few traditional payment processors choose not to involve in this segment as there exists a different framework for different nations. Securing payment services providers for the CBD oil merchant is difficult to find due to their niche.
Because of the nature of products sold some businesses can be only classified as high-risk businesses or the industry they deal in. Many digital products are considered as high-risk due to higher rates of chargebacks as it is exposed to the risk of scam with their global operation.
Radiant Pay provides a perfect balance of merchant account features to protect high-risk businesses while permitting the flow of earnings seamlessly. Although the cost of a CBD merchant account will be similar to other e-commerce businesses, the rates are higher due to industry regulations.
Accepting payments using cards through a CBD merchant account raises your sales while making you realise the possibility of income and benefits similar to that of other businesses.
Merchants dealing in CBD at any level, be it a start-up, mid-size, fully grown, or public company can apply for acquiring the payment gateway system and other services.
Are you looking for CBD high-risk merchant services? Get in touch with us from https://radiantpay.com/contact.html to know more about our services and avail a merchant account for your business.