Details insight of CBD Oil Merchant Account

CBD Oil is cannabidiol oil which is used for health benefits, but it is a controversial product. It can be taken orally or can be used directly on the skin or it can also be inhaled. Why it is controversial? Because it is used as pain relief, for quitting smoking and drugs, for mental disorders etc. The businesses who are dealing with selling CBD oil are considered high-risk business. Many banks have stopped providing merchant account for CBD oil businesses.

Although, the oil is good for health benefits but it has no psychoactive effect. Those businesses that are on the sale of medical cannabis have been denied for credit card processing services by some traditional banks. However many merchant account provider has legitimate payment solutions for CBD oil e-business.

It has the high rate of approval for CBD Oil businesses. They have solutions which are ideal for Cannabis dispensaries, retail, distributorship, and other legal services. The merchant should have legal online business to qualify for the merchant accounts.

Features of CBD oil Payment Gateway services

Payment processing solutions- It has multiple options for payments like the credit card, debit card, ATM card, international payments, wallets, internet banking payments etc.

Fraud prevention tools –  Payment gateway has many tools to prevent fraud. It has the ability to identify the suspicious transactions with AFDS (Advanced Fraud Detection Suite).

Merchant account- It will provide the online merchant account access. Through the merchant account, you can manage and review the real time transaction reports. For reporting, you can use the API to retrieve the details of processed transactions. One can also set up multiple accounts like for accounting, sale, and purchase etc.

Payment security solution- Payment gateway has PCI DSS compliance to store confidential customer data.

Essentials need to open the CBD oil merchant account

Nowadays, use of CBD oil is popular to treat epilepsy, cancer, depression etc. It is made up from hemp plant so it is considered as high-risk business. It is challenging to get merchant account approved. So there are four essentials you need to take care of while applying for the CBD Oil merchant account.

• The bank seeks for an at least six-month processing history of a company. The healthy processing means CBD merchant should have the low rate of chargeback.
• The volume of a business should be high. The high-risk merchants need to show the high volume of the business.
• Bank wants to see the strong financials of the company. The business bank account should have the healthy balance.
• CBD oil merchants should have the registration certificate.

CBD oil industry is an emerging market. Finding a stable merchant account is easily available now.

Advantage of having International Payment Gateway

Payment Gateway is application based service for e-commerce business. It basically links the client payment account with the e-commerce business account. It secures the details of the client and transfers money faster and easier. If you are running an online domestic business you need a domestic payment account and for offshore e-commerce business, you need an international payment gateway. There are so many payment gateway service providers available in the market which also offers international merchant account with international payment processing.

There are two types of payment gateways-

Hosted Payment Gateway- In hosted payment gateway, payments are done from your e-commerce website. The customer while making payment is redirected towards the payment gateway page. Such account does not need a client id and payments are done hassle free. Some examples are like PayPal, World pay etc.

Shared payment Gateway- In shared payment gateway, the customer while making a payment is directed towards the payment page and remains on your website. The payment is done in one go. After the transaction, a customer is redirected to your website. It is very fast and easy to use.

The advantage of having the international payment gateway

You can grow your business globally. You have the opportunity to work with foreign banks, currencies etc. You can reach the target market easily through the offshore payment gateway. It is easy to get connected with worldwide payment methods. You can get personalized e-commerce business solutions by creating your own payment method.

You have the chances of maximizing the productivity. There is no need to involve with the services like collecting; currency exchange etc individually. The international payment gateway enhances the multi-currency processing for international customers. It allows the international customer to make payment in the choice of their currency. You can approach people globally.

You can easily establish the good relationship with international banks. An international payment gateway facilitates the international credit card processing in a simple hassle free way. The account can tailor all types of industry and provide the solution for all size of businesses. It will help to maximize your business and minimize the risk of fraud.

If you have an online international payment gateway account. You have the option to create the affiliate program like one can earn the referral fee by sending the buyer to your website. This way your sale will increase. The merchant can gain the trust of the customer by accepting online payments through the international payment gateway.

It influences the customer to buy products on your website. It provides quick and easy transactions via credit card, ATM card, international payments etc. Sometimes these options run a great deal of cash back and discount which will boost your sale and increase the turnover. The customer can grab the last-minute deal if you have a good online payment gateway.

Payment Gateways is the best way to receive safe and secure payments domestically and internationally. Implementing an online payment gateway is the best idea for businesses selling products and services online.