It is essential that as a CBD merchant, you find a payment processor that has a responsive support system and is designed to operate risky transactions with low transaction fees. As you’ll see below, we’ve studied some of the top ranked payment processors in the CBD industry.
Easy Pay Direct
Easy Pay Direct was developed in 2000 and stands out as one of the best payment processors. It has been designed to cater to both risky business and those with minimal risks. Clients who use Easy Pay Direct are encouraged to have bank accounts or credit card accounts, as Easy Pay facilitates simple transactions using an online shopping feature. As an added bonus, payments at Easy Pay Direct can be made straight to mobile phones and their customer care team responds to queries around the clock. In case of premature termination, you will not be charged even a cent. This method is suited with unique features that allow merchants to process a variety of different payments.
SMB Global was born out of Payline Data in 2016. It is based in South Jordan, Utah and provides vast processors to handle all of the high-risk transactions. SMB Global incorporates over one hundred shopping carts online, and also works around a good number of domestic bank institutions. The rates and fees a merchant is expected to pay are dependent on the processor carrying out your transactions. However, there is a slight challenge for new merchants, because SMB Global has set the least processing amount at $50,000, which might be hard for new businesses. This method is highly flexible in that it allows clients to pay using their local currencies, because it has relevant conversion techniques. In addition, they have a brilliant customer care team.
It has its headquarters in California, and has been in the industry for slightly over two decades. Payment Cloud has most recently incorporated CBD transactions in their business. Their most unique characteristic is that they do not charge clients when opening new accounts, or for any transactions. They offer an EMV compliant terminal, which is only valid for as long as a client maintains their Payment Cloud accounts. However, the CBD business transactions are limited to activities that are consumed externally, like oils and lotions. Products for internal consumption are banned. For customer support, they have a committed manager to respond to clients.
Square adopted CBD transactions in 2019 and has been providing excellent service to clients ever since. Despite having slightly high transactional fees, Square does not charge clients a fee for opening accounts with them. Clients here have the advantage of accessing the rates on the Square website, which are well displayed and user friendly. This will enable you to plan your finances and choose the packages that are most suitable. Square is more favorable for small scale CCD merchants because it encourages operations on cash only. Square transactions are paid for instantly, hence reducing chances of unforeseen charges and the Square support team is efficient and highly responsive.
Link to the site: https://www.pinpointpayments.com/about-us/who-we-serve/