CBD (Cannabidiol) is an active cannabinoid found in cannabis. The cannabidiol is a compound which offers much more benefits other than getting high. Health experts commend the cannabidiol to a wide range of extraordinary. The Cannabidiol treats a wide range of diseases, for example, various forms of cancer, epilepsy, depression and so much more. Due to the fact that Cannabidiol is gotten from the marijuana plant, this makes obtaining CBD merchant processor very difficult but not impossible. It is advisable for merchants to pursue the accounts since operating the CBD business without one is illegal which can even lead to the serious consequences.
It is basic knowledge to have a permit to operate any business, a legal one for that matter. As stated earlier, it is very difficult to obtain the CBD merchant account and fortunately not impossible. The DEA in The United States of America finds it still illegal although marijuana is legal in 44 states since it is a gruesome process to obtain a GED merchant account. If found by the DEA without the merchant account, it can lead to a fine or even a jail term which can clearly be avoided by obtaining the merchant account.
In 2016, in the United States alone, the sale of marijuana and its products, including CBD, commanded retail value of $668 million CBD making $130 million almost a sixth of the total (according to ’Vote Hemp’). Due to the statistics, it is clearly a very risky business according to the numbers, therefore, the need to have a safer payment system since the amount of cash coming in is massive. With a poor payment system, for example, cash payment, can lead to theft, or even worse, theft gunpoint which can lead to injuries or even death.
CBD merchant processors offer a superb fraud protection service which protects the business owner against fraudsters. You can take a look at a standard CBD merchant processor at https://thesoutherninstitute.com/cbd-merchant-account/. Other payment systems, for example, the simple and widely known, cash payments, do not offer the merchant fraud protection, therefore, can easily get robbed off all the money he/she owns. CBD merchants need to open the CBD merchant processors to avoid such avoidable circumstances.
Customer data is very delicate when it comes to the customer and the sales for the merchant. A customer cannot want his/her data to be obtained by another person due to privacy reasons everyone posses. With other payment services, sales and customer data is at risk to the public hence can easily lose the customer. With the CBD merchant processor, you can immediately make sales once you have obtained the merchant account, furthermore, the data of the sales and the data of the customer is properly safeguarded from the public hence retention of the customer.
Without the CBD merchant processor, one can lose a lot of money since no other payment system offers a 24 Hour customer service. They manage orders for you, manage fraud issues, check security and also make payments for you anytime day or night, 24 Hour. So, by using CBD merchant processor, no dime will go to waste since you will be operating day and night.