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In order to take advantage of this global movement, you need to know how to properly and legally market and sell your CBD products online. After all, competition is fierce, and with an increasing number of people choosing cannabis as a treatment for widespread illnesses, ailments and medical conditions, staying ahead of your competitors is key. Selling CBD online is perhaps the easiest way to market the popular product note CBD is not legal in all 50 states , which can be transformed into a wide range of products, including:. Sales of CBD and hemp oil products in the U. While shoppers tend to purchase CBD more often in brick-and-mortar stores, the ease of shopping online is sure to increase the popularity of CBD ecommerce in the future.
Best CBD oils to try in the UK and how to choose the right one for you
An influx of online businesses are introducing CBD into their ecommerce stores. Since the passing of the Farm Bill, which was signed into effect by President Donald Trump in December and removed hemp from the definition of marijuana under the Controlled Substances Act CSA , an increasing number of ecommerce business owners are searching for payment gateways that allow CBD merchant processing.
In an effort to meet consumer demand for CBD products, such as oils, capsules, supplements and topical solutions, the non-psychoactive cannabinoid is being stocked inside an ever-growing number of brick-and-mortar shops and online ecommerce stores. Back in , Dr. Some 23 years later, scientists managed to assess its structure in clarity. Ultimately, this kick-started plenty of research into a molecule that has since been hailed a medical marvel ingredient. Although CBD boasts a fairly long history, it has never been discussed quite as much as it is nowadays.
This is not to say that THC does not possess therapeutic qualities — but for now, the world is paying close attention to CBD, since users need not experience mind-altering effects to reap the rewards. The difference is that cannabis grows with more than 0.
Confusion between the two plants has caused controversy among hemp business owners who have struggled to find processing solutions that are willing to accept online ecommerce payments for CBD-containing products.
Even if your ecommerce business specializes in the sale of hemp-derived CBD, you will still need to seek out a reputable CBD payment processor that is equipped to handle high-risk transactions. As an industry that is undergoing constant metamorphosis in the legal aspect, you would benefit from staying on top of the evolving legal cannabis landscape across the U.
For an up-to-date status by state, get in the habit of checking reputable online resources like this one. Albeit legal in most forms throughout much of the U. The FDA is still straightening out regulatory framework for this industry, with the majority of regulations still unclear. As a result, many payment processors will be reluctant to work with CBD companies. Shady manufacturers looking to make a quick buck are ruining it for everybody else by deterring payment processors from working with CBD sellers for online transactions.
The solution? Finding a high-risk processor who is not afraid to assist you with a payment gateway that ensures you can conduct business just like any low-risk company is able to. BigCommerce knows how to handle high-risk businesses, such as those associated with the CBD industry. BigCommerce also invites high-risk companies to facilitate business transactions with more than local payment methods. Although the payment gateways made available to your business will depend on the country in which your company is registered and also, the currency that you use.
However, whatever the gateway, we ensure that it can be digitally integrated with a range of popular payment technologies like Apple Pay, Amazon Pay and PayPal, to name a few. We talk now about this below. Such extortionate predictions mean that an increasing number of ecommerce businesses are scrambling to find a CBD payment processor willing to accept them. The reason for this is because the fairly new industry is prone to payment card fraud and charge-backs.
As an industry that hovers around a legal grey area, only a handful of CBD payment processing services will be willing to take the risks associated with this type of transaction.
Be on the lookout for a company that boasts extensive experience in aiding businesses operating within a high-risk sector. Nobody wants to hear that they are being forced to switch their ecommerce site to a brand new platform in order to integrate a CBD payment processor. With that being said, it is best to refrain from using a CBD merchant processing system that requires you to use their existing platform. Instead, opt for a company that enables you to integrate their CBD credit card processing system seamlessly with a broad scope of ecommerce software.
Companies that can offer these services will be the ones to do business with, since they will be capable of supporting you as your company thrives. A significant portion of CBD payment processors will operate using API integration, which is the most common payment gateway of them all.
Save yourself time on administrative duties and cut the cost of in-office work by finding a CBD payment processor with point-of-sale POS availability. Processors with POS system integration will be able to assist you in managing both online and offline transactions.
With accurate reporting gleaned from POS software, store profitability can be increased, as well as customer loyalty, business intelligence and ease of access to your sales portal. POS software will also aid you in making lucrative business choices. When it comes to finding a reliable CBD payment processor, you will not be limited to companies that charge a hefty upfront fee.
Although the more well-established companies may require a fee from account holders upon registration, many will provide their services free of charge or for an affordable rate. Ask yourself if you can afford to pay the specific percentage that your preferred payment gateway will deduct from you for each transaction. If it does not work well with your profit margins, search for a service provider elsewhere. There are also a number of other fees to take into consideration when selecting a CBD payment processor, such as:.
Chargebacks may also accrue additional fees, so it would be in your best interest to confirm this prior to establishing a partnership with CBD merchant processing companies.
Not every payment processor will require you to sign a contract that is binding in order to do business. It is advisable to stay away from companies that will only establish long-term partnerships, particularly if they do not have sufficient testimonials to back-up their claims. In the event that a company catches your eye, but will only offer a partnership under the condition that you fork over an ETF early termination fee if you choose to go elsewhere, prepare to negotiate.
You simply must be prepared for the worst case scenario when it comes to dealing with online and offline transactions for CBD-related products. After all, the level of service they provide will reflect on you as a business.
Before you choose a payment gateway, ask a member of the team how they go about handling disputes, as well as how fraud protection will minimize the chances of disputes arising in the first place. Personalized customer service is the way to go, but if you cannot find a company that offers this, at least find one that hires a customer service team to manage calls and emails around the clock. Competition is stiff in the CBD industry, so you need to be at the top of your game if you want to maximize profit potential and customer retention rates.
A CBD payment processor can provide the perfect tailored solution for your business, while eliminating the hassles associated with administrative tasks, accounting and business upkeep. The following top-rated companies have branched out into the CBD industry with their payment gateway services:. This leading payment gateway service provider is PCI-certified. Presenting clients with a unified commerce strategy, this CBD payment professor supports various payment methods including ACH, credit cards and debit cards.
NMI provides detailed insights into transactions, of which can be managed in conjunction with BigCommerce. Next on the list is this high-risk payment processor, which is acknowledged as the most well-respected service provider specializing in the CBD industry. Perhaps the most well-established CBD payment processor on the list so far is this one, which launched back in the year Easy Pay Direct links account holders with credit card processors or domestic banks, depending on their requirements.
The company, which is affiliated with Payment Depot, might have only started in , but they have already provided CBD merchant processing to a long list of CBD oil merchants and medical cannabis dispensaries throughout the U.
Last but by no means least is this payment processor, which has one of the highest approval rates of all CBD merchant processing solutions. Boasting competitive chip, dip and swipe rates, PaymentCloud utilizes third-party processors and collaborates with banking institutions throughout the U.
Regardless of your business goals, choosing a CBD payment processor is not a decision to be taken lightly. Dealing with regulatory requirements, fraud protection and data security, handling chargeback management and guiding you in the right direction are just a few essential services to be on the lookout for. This material does not constitute legal, professional or financial advice and BigCommerce disclaims any liability with respect to this material. Please consult your attorney or professional advisor on specific legal, professional or financial matters.
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Due to the recent research and personal testimonials surrounding CBD, the market for CBD oil has expanded substantially. From our five years of experience in the CBD industry, we have gathered valuable information that will help guide you through the opening of a CBD store.
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The CBD business is supposed to explode, but selling it online is still a mess
CBD is everywhere - and with so many apparent health and wellness benefits, it's not hard to see why. If you've seen the acronym CBD floating around and just thought that everyone had forgotten their alphabets - you'd be wrong. CBD - formally known as cannabidiol - is one of the many over to be exact chemical components found in the marijuana plant. You thought it, so we'll just go ahead and say it - CBD oil will not get you 'high'. The woozy and hungry feeling you associate with cannabis is a result of another component, THC, which is a psychoactive.
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An influx of online businesses are introducing CBD into their ecommerce stores. Since the passing of the Farm Bill, which was signed into effect by President Donald Trump in December and removed hemp from the definition of marijuana under the Controlled Substances Act CSA , an increasing number of ecommerce business owners are searching for payment gateways that allow CBD merchant processing. In an effort to meet consumer demand for CBD products, such as oils, capsules, supplements and topical solutions, the non-psychoactive cannabinoid is being stocked inside an ever-growing number of brick-and-mortar shops and online ecommerce stores. Back in , Dr. Some 23 years later, scientists managed to assess its structure in clarity. Ultimately, this kick-started plenty of research into a molecule that has since been hailed a medical marvel ingredient. Although CBD boasts a fairly long history, it has never been discussed quite as much as it is nowadays. This is not to say that THC does not possess therapeutic qualities — but for now, the world is paying close attention to CBD, since users need not experience mind-altering effects to reap the rewards. The difference is that cannabis grows with more than 0. Confusion between the two plants has caused controversy among hemp business owners who have struggled to find processing solutions that are willing to accept online ecommerce payments for CBD-containing products.
Written by Ian Jones.
Despite federal hemp reforms last year, many CBD-focused companies throughout the U. Many of the industry operators interviewed for this piece pointed to the sudden decision by U.
How to (Successfully) Sell CBD Online: A 2020 Seller’s Guide
It works in various sectors including SME finance, retail banking, and Islamic banking. The customers can enjoy customized banking solutions, which provides them with a unique banking experience. Credit cards are amongst the various products and services offered by the bank in the UAE. They range from free for life cards to high rewarding premium cards. There are various types of credit cards offered by CBD. Every Commercial Bank of Dubai credit card offers its own particular set of benefits as catalogued below. AED from second year onwards. Monthly Interest Rate: 3. AED With a long history of dedication and commitment to their customers, Commercial Bank of Dubai has spent decades catering to the needs of the UAE populace. Now, why should one choose a commercial bank of Dubai credit card? A Commercial Bank of Dubai credit card offers customers the opportunity to exponentially increase their spending power and partake in the world-class benefits offered by the bank. As a Commercial Bank of Dubai credit card owner, here is what one can expect to get:.
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In the last few years, CBD oil has grown from a niche alternative treatment to a multimillion-dollar market. As more people discover the benefits of CBD, the medical community and legislators alike are taking notice. CBD is used on a daily basis by millions of people, and because of the credibility given to it by doctors, researchers, and lawmakers who support it, more people are trying CBD for the first time every day. Whether you use CBD yourself or you're just interested in the industry, now is a fantastic time to enter the market and open your own online CBD store. You'll have access to the most powerful eCommerce tools available for starting your store , reaching your customers, and getting the brand recognition that leads to a successful business. There is a lot of confusion around CBD products due to its relationship with marijuana, so let's go over the facts. CBD is short for cannabidiol, a compound found in all cannabis plants.
