How to support your CBD business through payment processing
Trying to keep your business from collapsing during COVID-19 and maintaining its stability through Brexit is hard enough for any industry. However, the CBD industry is currently facing additional issues of processing their payments, with many payment providers choosing not to provide such high-risked businesses with their payment processing services. On the other hand, we’ve heard about some payment providers providing CBD businesses with payment processing services but then sometime later choosing to no longer provide these same businesses them with their payment processing services, as has recently happened with many CBD businesses who were using Worldpay.
But why is it so difficult for CBD businesses to find payment gateways?
The cannabis plant has had an interesting history, being the focus of much political and social debate. Though in the recent decade it has been increasingly used in the form of CBD due to its thriving health benefits. However, regardless of the products becoming more and more acceptable, gateway providers seem to refuse or increase rates for such ‘high-risked’ companies.
Already many CBD companies have invested lots of time, energy and hard work as they try to enter an already congested health marketplace. However, despite all their best efforts, these same CBD companies may find the uncompromising attitude of certain payment providers negatively affects the success of their business.
Along with the hard work dedicated to implement their way into an already congested health marketplace, come CBD companies may find the uncompromising attitude of certain payment providers to negatively affect the success of their business.
As a CBD business, how can you ensure the payment gateway you are choosing will stick by you and support you?
As a CBD merchant you need to find a payment provider who is both willing to take on merchants like yours from emerging markets, and at the same time, has the experience of working with, and recognising the potential of CBD businesses.
Also, it’s important to find a payment provider who will work with you to meet your business needs, by assessing the risks and rewards of working with you and your CBD business. Of course, you’ll need to formulate an effective strategy that will maximise your sales, increasing your profits and demonstrate that your CBD company is worth working with.
With ePay247, our approach is the focus they put on the success of your businesses. ePay247 work with you, providing effective, secure and fast payment processing that your business needs, enabling you to focus on increasing sales. With ePay247 we will ensure you are able to receive payments without any problems or delays. The dedicated team here at ePay247 are here to support all your business payment processing needs.
ePay247 will give your company the respect and trust it deserves, the same as any other company within any other industry. They will tailor each approach, technique and plan towards your business, ensuring your success.
So remove the uncertainly, problems and concerns from taking payments for your CBD and get ePay247 on side today as your payments processing provider.