12 May Payment Gateways that will accept CBD & Cannabis Products in the EU
“Payment Gateways are a must for any e-commerce business let alone the Cannabis industry”
Large multi conglomerate company’s don’t allow CBD vendors to use payment platforms and this has been the case since CBD hit the market with force. As much as your product, logo design, website and Business strategy is important ! what good is it if you can’t accept payment for the product you eventually will sell?
What merchant providers should I stay away from?
A few examples we have heard from CBD vendors is that company’s like PayPal, Stripe, Square will allow you to setup your account and host there payment gateway on your website for a certain amount of time. But once they complete a review of your website they put your account on hold and the money that belongs to you gets held. It is a great strategy isn’t it but this is a common problem that happens daily within the Cannabis industry.
For example if you use PayPal as a merchant provider and they don’t review your website for a few weeks maybe months, and one day you open your emails and PayPal have written this to you.
In pay pals terms of service there is no mention of CBD products and how vendors can’t use the service they provide. We reached out to PayPal and they came back with the same reasoning as ‘ Facebooks advertising policy”
“Thank you for contacting Paypal, Paypal reserves the right to close any account reported or to be involved in possible fraudulent or high risk behaviour”
What Vendors can I use ?
You can use a vendor that has a brain and understand the difference between CBD and Illegal narcotics. I will be honest with you the fees can be slightly higher but you can relax knowing there is nothing hidden in there terms. If you need more information on cannabis vendors get in touch with GG today ______________