accept credit cards as a dispensary

A merchant can be classified as high risk for a multitude.

New Developments in the CBD Industry

From treating anxiety and inflammation to potentially combating cancer, CDB products have been found to offer a wide range of health benefits. While a vast majority of the United States has legalized marijuana and its derivatives, some continue to side with the federal government on the matter. This tends to make the situation a bit complicated for the nation's dispensaries, but progress is certainly being made in this department.

New Payment Acceptance Options

Domestic cbd merchant account options have recently made their way into the mix for dispensaries and CBD vendors. Beforehand, the only choices were cash payments or risky offshore accounts with potentially questionable financial institutions. Though the options are still somewhat limited, a select handful of merchant services providers has stepped up to bridge the gap. While this does bring new opportunities to the table, it's not an all-inclusive solution.

What You Need to Know about CBD Sales

Despite the development of domestic CBD merchant account alternatives, this can still be a hazardous journey for companies in the industry if the right provider isn't involved. Some continue to claim they're legitimate even though they're using evasive tactics. Those falling victim to such institutions could certainly have a lot to lose in the long run. Aside from this, the industry continues to grow even more complicated.

Outside the Box: Marijuana sales are unquestionably illegal from a federal perspective; however, CBD falls into a bit of a gray area. By some definitions, marijuana and CBD aren't quite the same. As such, CBD often falls outside the jurisdiction of federal regulations; of course, this doesn't make finding suitable domestic credit card processing for CBD any less difficult for dispensaries.

Inside the Circle: Because of CBD's borderline classification, many financial institutions still consider offering CBD merchant services out of the question. They fear the potential risks and ramifications involved, so they shy away from this sector. This is the very reason certain providers have decided to develop a viable alternative, but it's also the reason so many illegitimate companies are ramping up their advertising efforts targeting dispensaries.

Beyond the Norm: CBD products claiming to offer health benefits are still considered taboo because their results haven't yet been fully evaluated or substantiated by the FDA. With that being the case, how are these items any different from the weight loss, fat burning and energy boosting supplements found in any department or health food store? According to the federal government, it differs greatly, so masking sales under false categories via a merchant account could have serious repercussions.

CBD may not technically fall under government regulations, but the feds still treat it as they would any illegal or controlled substance. Though this strikes fear in the hearts of many institutions, domestic merchant accounts are still available for companies selling these products. Digging deeper and doing plenty of research is crucial when looking for the right provider.