The cannabis plant, though quite controversial, has numerous positive effects and uses. There are 113 different extracts and derivatives provided by the cannabis plant, and one of them is cannabidiol, or simply, CBD. CBD is a cannabinoid that can be extracted in the form of oil from the cannabis plant. CBD oil is non-psychoactive, which means that it has negligible or absolutely no effect on the mental processes of the human body. Cannabis, though being a Schedule 1 drug in the United States of America, has numerous derivatives that act as medical supplements that have uses such as treating symptoms such as anxiety and inflammation. Thus, due to these positive medical uses and effects, many US states have begun legalizing cannabis read more at https://thesoutherninstitute.com/cbd-merchant-account/. So, for the trade and use of CBD oil, sellers need to open merchant accounts with certain payment gateways, in order to begin the successful sale and trade of CBD oil and it’s derivatives.
We will now discuss the various payment gateways that accept CBD payments and also look at what makes merchant services provider good, in the eyes of the public:
lnstabill is an online payment gateway and a merchant services provider that accepts CDB payments from states where the sale and purchase of the drug is legal. To set up an lnstabill account, you need to provide the company with certain documentation and proof of your business, in order for lnstabill to check your credibility and allow you to conduct your business through it.
2. T1 Payments:
T1 Payments is a CBD-allowing merchant service provider that provides payment gateway services for individuals to trade in CBD oil. T1 Payments has a number of payment options and services available to make use of by customers, such as credit card processing services, online payment gateways, offshore banking and online shopping carts also. The service also provides the users with the option to make payments internationally, by using its multi-currency support facility.
3. CBD Merchant Account:
Account is another online payment gateway and merchant services provider that is specifically designed and used for the payment processing and acceptance of CBD oil sellers and traders. The payment gateway runs through the website known as “cbdmerchantaccountcom” and offers various methods of contact and payment for its users, many of them which are not offered by other merchant services providers and online payment gateway services.
Now that we have discussed the various CBD payment accepting gateways, we will now proceed to discuss the various contributing factors that make a merchant services provider good:
1. Reputation of the Provider:
Your business is something that is highly important to you, and therefore the merchant service provider you choose must be trustworthy and have a reputation for security of services. The methods used by the merchant service provider to process your payments must be safe and secure and must not have loose ends that would result in the loss of your money.
One of the major factors that affect the choice of any good merchant services provider, is the fee they charge for the processing of your transactions. The fee mustn’t be very high, and neither should it be very low, as that reflects upon the quality of services provided. It should be a reasonable fee that is profitable for the service providers and the customers.
3. Experience in the Field:
The high-risk merchant service provider that you choose for your business should have ample experience in the industry, so that, your business and transactions are not hurt due to its lack of experience. IT should be a reputable payment gateway that will not fail to impress you with its transaction processing facilities
Payment gateways and merchant services providers are an integral part of businesses that contain high risk, such as the sale and purchase of cannabis products, specifically, cannabidiol oil and its various derivatives. Thus, merchant service providers play an important role in this business.