CBD Payment Processor

Harvsted can help secure payment processors for CBD vendors or cannabis related merchants with years of accounting expertise with high risk industries.
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Navigating the payment options

The right gateways

Here at Harvsted, we know having a payment processor for your CBD business is essential to maximise your sales. Alternative payment options, such as gift cards or virtual currencies, do not have the widespread appeal that traditional processors do. Our job is to bridge the gap with our CBD payment processing options – applying the tried and tested payment processing of ‘regular’ e-commerce sites to that of CBD oil and Hemp products.

Accepting credit & debit cards

Consumers want to feel safe and secure in the CBD marketplace, in the same way they do if they were purchasing any other item online. Credit card processing can help give the consumer confidence in your site and products. A site that accepts only pre-paid cards simply won’t have the same impact.

As such, being able to accept Visa and/or Mastercard for your CBD oil products is a must have for all annabis related businesses.

Finding a payment processor for CBD

Accepting payments online may be the biggest challenge your cannabidiol business faces.

Processing cards

High risk card processors

The CBD sector is considered high risk. Cannabidiol oil, although legal in a lot of countries and jurisdictions your business will still require a high risk card processor to process transactions.However, operating in a high risk industry does not mean low value options.

We are connected with a wide range of payment processors, all of which have been selected due to their risk appetite that includes the CBD market. We remove the time and hassle of sourcing a processor,allowing you to work with reputable card processors.

Processing Fees

In the payment processing world, the higher the perceived industry risk, the higher the potential number of charge backs. As such, CBD / hemp oil products attract a higher fee paid to the processor versus other e-commerce sectors.

Harvsted job is not only finding a provider that will process the payments from your online store or site, but also to negotiate lower fees where possible. We have worked with many, many CBD companies, so you can rely on our purchasing power to bring competitive fees to our clients.

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SOlutions ok with CBD

CBD Friendly

Some payment processors are simply not interested in working with the CBD oil industry, in the same way they are not interested in working with other industries, it doesn’t fall within their scope of accepted businesses.This may have nothing to do with risk, or chargebacks, it can be a simple commercial decision taken by management not to target this particular industry.

A lot of time can be wasted applying top processors that, irrespective of the way you run your site and the governance you have in place, will be rejected. We know the CBD friendly payment processors – saving you time and money in the application process.

Cannabis = risky

While CBD is legal, it is still very much considered high risk.

The Payment Gateway

Harvsted can provide payment gateways for CBD websites, with both Visa and Mastercard. CBD business can choose if they wish for both or just one card payment option.

The payment gateways we provide are, of course, Hemp friendly and will allow you to accept payments on your website securely. The platforms are PCI DSS compliant, 3D secure and integrated with all major shopping carts.

Ultimately what is most important is the customer experience. With our payment gateways the customer user experience will be smooth – allowing you to accept card payments on your site, with arrange of processors in the background.

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Merchant Accounts

Harvsted also have options for CBD Merchant Accounts.

Although this is not necessary in order to process card transactions (your business may already have another account), having a dedicated merchant account is a very useful feature for Hemp businesses. Merchant accounts can be hard to open, especially for companies operating in industries such as CBD. However, here at Harvsted we are on hand to guide and support you through the entire process, making sure you have all the relevant document and polices to hand.

Our connection with merchant account providers mean we can be specific about the on boarding requirements.

there are no promises

Be wary of processors who guarantee services for CBD, fees will be extremely high and there may be regulatory concerns.

Who is the best CBD processor?

This depends on the country and currency you wish to accept payments in – once we know this, we can let you know who is the best option for you. One size doesn’t fit all in CBD payment processing.

Can you guarantee opening of card processing?

Any site or company that guarantees they can setup CBD payment processing is likely working with un-reputable providers,or simply lying. The reason is; certain checks must be carried out prior to issuing the site with the processing facilities – not all companies will be able to comply.

However, at Harvsted our setup success rate is excellent. This is because we can reliably inform you of exactly what you need to do and provide in advance, making the process as smooth as possible.

Do you have CBD payment processors for UK companies?

Yes, we have options for UK companies. Over the last couple of years, we have on boarded many UK CBD businesses.

Can I accept Visa and Mastercard?

We have options for both, either separately, or both via one CBD payment gateway.

How frequent are payouts?

Depending on the provider, payments are usually, weekly, every 2 weeks, or monthly. The higher the volume of sales, the more negotiable the payout schedule becomes.

Is there a minimum contract length?

No, with Harvsted and our partners, we have no minimum monthly contract length.

How long does approval take?

Getting approved for debit and credit card processing via Harvsted can be completed within 1 week. Technical integration then follows.

Do I need to leave a reserve with the payment processor?

In the vast majority of cases yes, you will need to leave a reserve. This is to cover against charge backs. The longer you operate with the payment processor - the better the chance you have of the reserve reducing - as the processor gains trust in your e-commerce site.

How do I integrate the payment gateway?

All our providers are API based, meaning it can be added to your website, or email materials relatively simply. Detailed API documentation is provided, and we can make the necessary introductions to the processors tech team for support.

About Us

Company news

CBD Merchant Account
Feb 21, 2019

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