Any updates on viable payment processors for Hemp Flower?? I’m seeing PP’s are warming up to cbd products but I know that most will not support online stores where flower is the primary product.
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I own a payment processing company and we take merchants with hemp flower, glass, vape, etc. we are the direct processor with no middleman. My email is rob@flexpaymentsolutions.com if you want to chat.
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what are the rates?
Do you still run this service. Am very interested for a new hemp product store that I am running
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Adept payments is one … also John tried doing an AMA in here a while back but it didn’t get great traction. Use your search bar and find that thread. He’s a magician in this arena. I don’t remember the name of the thread
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I have banks that do all types of CBD, including flower — even Delta 8!
Happy to help anyone get up and running quickly and easily — for both online and retails stores.
My email is john@gatewaysmadeeasy.com or my cell is 812-265-9700.
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Do you still need help?
We own a payment processing company, we are direct to the bank and specialize in all things hemp. You will not have to worry about being shut down.
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Details
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Hey, So we started out as extractors and distillation and then moved on to building a retail brand and we during these ventures we saw how difficult payment processing was. Everyone claimed they had a solution but it was a shadow website, off shore merchant account, or they would approve you then you would run $3k-$5k throughout your account then they would initiate the underwriting and once they find out your selling thc they lock your account freeze assets and shut you down.
So I partnered with a person who’s been in the payment industry for the like 15 years. Turns out we know the CEO of the only 2 banks in the US who are fully recognizing the 2018 farm bill. We are direct to the bank no brokers or anything. We also have the ability to charge 0% fee to the retail owner.
We are building a full SAAS for hemp owners to.
There’s more than two, but they aren’t easy to find.
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Yes, there are smaller banks who will do it but you run the risk of them getting push back then ending their services when it comes to THC and kratom. Also they are probably using the ACH rails to complete the transaction. Visa and mastercard are not dumb they are catching on.
We use square and our bank for hemp. Both do an audit every 6 months and want everything documented, especially larger wholesale transactions. But two years in we haven’t had an issue.
The bank is definitely smaller.
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Thats good, the clients Iv spoke to say they are selling delta 8 and when they find out even after submitting docs they don’t unfreeze their account. Im interested to see how they determine if what your selling goes against their guidelines.
They peruse your website and check your sales records. Occasionally asking for further clarification. I’d imagine if your website is covered in d8 and hemp derived d9 products that’s when the red flags start popping.
BoA + Square is the starting point for many.
When they close accounts due to more risky products outside of topicals and cbd is where they begin to measure risk and close accounts.
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I was told “no” by 176 different banking institutions before I found one that would work with us. Fuck BoA, they were one of the no’s 2 years ago.
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That seems to be the issue store are not making their money off CBD tinctures and topicals its off thc and vapes and edibles from what iv gathered.