Before you jump into the CBD oil or derivative business, how to receive payments and track sale is a crucial factor you should solely consider. Fortunately, there is a rise in the payment processing service; hence most merchants have access to account opening and credit card processing. If you are looking for the best CBD payment processor for your business, this article is meant for your consumption. Also, bear in mind that there are necessary steps a merchant should follow to validate the payment processing gateway.
Looking for the best CBD payment processor is not a herculean task; however, the business must be sure to connect with a payment processor that has the appropriate systems in place and possibly limit chargebacks. As your business serves the customers directly, you must ensure that your company’s money-back policy is clearly stated on its dedicated website. If you are finding the best CBD payment processor whose system and payment gateway is suitable for your business, then you should consider the critical element below;
#1 Quick & easy integration
Integrating a CBD payment processor to an ecommerce site shouldn’t be a difficult task. Sometimes it can be time-consuming and requires a level of financial resources to get it done correctly. When you think of payment processor integration, opt for a processor that has a quick and easy installation setting. Therefore, you won’t need other eCommerce software or plugin for the integration. The best CBD payment processor has a simple API integration process.
#2 Low associated cost
As it concerns seeking the best CBD payment processor, you shouldn’t be restricted to companies with outrageous charges. Sometimes the best things can be cheap and affordable. The fee that your business is expected to pay is mostly done during the registration process but some payment processors offer their services at no cost. Before you subscribe, you should also check and analyze if you can pay the percentage that will be deducted per transaction. If it doesn’t work well, then you can select a payment processor with a considerable portion.
#3 Customer Support
The customer support team appears to be the lifeblood of any CBD payment processor. Before you select a payment service provider, you should have full knowledge of how their customer service will reflect on your business. For instance, how a chargeback on recent order is handled and their responses whenever there is a dispute. The best CBD payment processor will assign a dedicated customer service personnel that will focus on your business alone.
#4 High-risk availability
Most CBD transaction is described as a high-risk transaction. The reason for this is because most online transactions are prone to payment card fraud and unnecessary chargeback. Find a reliable company that can stand by you when you encounter any transaction that poised risk to your business. Not all CBD payment processors will be ready to take the risk associated with the payment or other associated issues within their sphere. Therefore, it is essential and that the payment processor you opt for can handle high risk when they come.