Accept Credit Cards at CBD Hemp Company
Here’s How Hemp Oil, Cannabis and Licensed Legal Medical Marijuana Dispensary Industries Can Set up Their Merchant Account. HighRisk PaymentService Works with all shopping carts and works with CBD Oil Friendly Domestic banks in the USA. No Offshore solutions or excessive declines from international banks. Work with US Based banks that will process payments like visa and mastercard for cbd oil and hemp oil companies.. Our network is compatible with Shopify, Magento, WIX, WooCommerce, BigCommerce, Authorize.net, NMI, UsaEpay. In this competitive world, it is not easy to sustain a competitive business, especially if your business practices are unconventional. It is quite true and can be clearly felt when such businesses, especially the Hemp oil, Cannabis and Licensed Legal Medical Marijuana dispensary industries that are termed as high-risk ones are trying to set up a merchant account, where the conventional financial institutions like the banks, altogether fail to recognize their plea. But, the hope is still there for these high-risk businesses as certain high-risk merchant services are willing to help them, which we are here to discover in detail.
High Risk Merchant Solutions Provider
An online merchant is one, who runs the typical business process of selling the products, maintaining the inventory, controlling the financial process, promoting the business and such relevant business tasks but, over the Internet. Every trade of such a merchant is carried online both, conveniently and effectively. But, all the online merchants are not considered the coequal. Few are labeled as high-risk merchants mainly based on the below-mentioned either or both conditions: The business practices of these merchants are operated within the high-risk industry concerning the standards and/or the safety of the society. The financial reputation of the business is not satisfactory.
In our case, it is the former condition that labels the business as a high-risk one and the main difference between a high-risk vs. low-risk business lies in the financial processing, where the former’s financial transactions are not easily carried out by the traditional business institutions like the banks and other prominent merchant services like the PayPal, due to their specific risk department underwritings (guidelines).
Denied Closed Shutoff By Credit Card Processors
The online merchant is expected to carry out a lot of financial transactions, importantly the payments made by the customers that happen predominantly via the credit card or the debit card method. These merchants utilize either the virtual terminal option or the payment gateways to process these cards, where the former offers a more flexible and a convenient card processing option that can happen anywhere and everywhere using the internet.
But, most of the banks that operate the secured gateways and other prominent merchant services like the PayPal, First Data are either completely unwilling to approve the financial transactions of these high-risk businesses or they demand a hefty fee that can altogether impact the business’ profitability. Thankfully, due to the presence of certain high-risk merchant services these businesses are able to carry out their business practices efficiently, especially those including the business-related financial transactions and the procedures without in anyway disrupting their profitability.
Services Provided for Startup Companies
If you are a start-up venture trying to establish and promote a high-risk business like the Hemp Oil, Cannabis and/or the Licensed Legal Medical Marijuana Dispensary, among the initial important things, setting up a high-risk merchant account with a reliable and an affordable high-risk merchant service is important to carry out your business’ financial processes effortlessly and successfully.
From ‘Gateway Setup’ to ‘Terminal Access’ the efficient merchant service can offer you the advanced financial solutions that too for an affordable price as the service charge. The following are the benefits offered by such a friendly high-risk merchant service:
- Quicker processing of application
- No setup fees or application fees
- Acceptance of all major credit card transactions including the Visa/MasterCard/Discover/Amex
- Offshore merchant account setup
- Easy access of terminals from the smart phones using the relevant iPhone app or the Droid app
- Faster payment processing
- Affordable rates or the fees
Thus, a prominent high-risk merchant service improves the viability of your business, which the traditional banks and the other popular merchant services could not offer. Also, if your business falls under the second category of high-risk condition, where your financial reputation is unsatisfactory like having a poor credit score or a low credit score, the efficient high-risk merchant service could still offer you a merchant account with the following transaction benefits that are important while accepting the card payments for your business,
- Signature transactions
- Virtual Terminal or ‘Card Not Present’ transactions
- The merchant account backed up with Multiple Underwriting Banks to enjoy the uninterrupted transaction services
- Low setup fees or no setup fees
- Quicker and easier application process.
- This shows, with the support of an efficient and a reliable high-risk merchant service, the feasibility of any high-risk business is assured, all the time.
Domestic USA Based Merchant Account Options
The domestic account could always be the favored choice for many of the businesses as the rates involved to process their business-related financial transactions are lower, and, also the business could enjoy a better financial security, favorably. But, being a high-risk business, it is not easier for you to setup a domestic account so easily and quickly, owing to the stricter guidelines of the conventional financial institutions. Also, if you are an international business then, having a domestic account alone would not fulfill all of your financial processing needs.
In that scenario, opening an offshore merchant account could be the sensible solution, as the concerned high-risk merchant service can get the process done quickly for your business that too charging the lower rates, which can make the financial transactions of your business uncomplicated, all over the world. Thus, the services of an efficient high-risk merchant company are important to enjoy a profitable and a problem-free business, especially if your business is labeled as the high-risk one.
