Getting a CBD approved merchant accounts could prove quite difficult owing to the inherent risks associated with CBD products. The varying laws have not made it any easier to get a credible CBD payment gateway. Banksare also reluctant to serve as intermediaries of CBD payments because of the risks involved. Banks usually make their decisions based on risks. Because the CBD industry is volatile, banks view most CBD businesses as high risk.
Things To Consider When Choosing A Reliable CBD Payment Gateway
- Simplicity
Using a CBD merchant account should be with ease. A CBD payment gateway should be able to accept credit card payments without fear of chargebacks or any other glitch that is prevalent on most CBD payment gateways.
- POS Accessibility
A CBD payment gateway with POS availability will ease the transaction process as it can effectively manage offline and online transactions.
- Customer Service Support
In choosing the best CBD payment gateway, you must consider how effective their customer support services are. You need to know how the CBD payment gateway you choose will deal with such a situation like chargebacks. You can call ahead before using the payment gateway and inquire on how they handle disputes and what they do to prevent any issue in the first place.
Top CBD Payment Gateways You Can Use
- NMI
NMI is a reliable CBD payment gateway that supports payments from debit cards, ACH, and credit cards. They are a transparent CBD payment gateway that provides detailed information on transactions done on the platform.
Features
- Transaction report generation;
- Virtual terminal;
- Free shooting cart.
Pros
- Fast payment process;
- Credit cards, debit cards, and ACH payment feature;
- Global payment options.
Cons
- $10 monthly fee required;
- $0.05 transaction fee.
SMB Global
This CBD payment gateway is suitable for start-up businesses,and it allows for$50,000minimum processing for offshore accounts.
Features
- Prevents chargebacks;
- Fraud monitoring;
- Offshore and international banking.
Pros
- Fair pricing;
- Reasonable contract terms;
- Good customer care service.
Cons
- A minimum volume of $50,000 offshore monthly processing for offshore accounts;
- No mobile processing systems;
- No information on credit card processing and POS processing systems.
USAePay
USAePay is a PCI certified CBD payment gateway. It provides mail, telephone, retail, and e-commerce order solutions for different businesses.
Features
- Fraud watch setup;
- Event ticketing;
- Merchant console
Pros
- Excellent customer support;
- Virtual terminal;
- Good user experience.
Paykings
Paykings is a reliable CBD payment gateway that is referred to as a high-risk payment processor that specializes in the CBD industry.
Features
- Virtual terminal;
- Mail order;
- Fraud prevention measures;
- Credit card payment processing;
Pros
- Affordable rates below 3%;
- A direct network of more than 15 banks and PSP;
- Integration with other platforms;
- Swift approval and reapproval.
Cons
- Complex interface
Easy Pay Direct
Easy Pay has been around for a while and is a well established CBD payment gateway. They are a versatile payment gateway that serves both high-risk and low-risk businesses. Depending on your preference Easy Pay can link your account with credit card processors or banks.
Features
- PCI compliant;
- No early termination fee;
- Direct mobile payment;
Pros
- Good customer reviews;
- Higher monthly payment processing;
Cons
- Set up fee of $99;
- Monthly account fee of $29.99;