High risk merchants are classified as riskier merchants because of the industry they are in such as Alcohol (online), Adult products, Cigarette, CBD, CBD oil, Hemp, Hemp Oil, Nutraceutical supplements. Most of these merchants cannot sell products using PayPal, Square, or Stripe. As a result a payment gateway in lieu of a CBD merchant credit card processor is needed.
First, let me explain what a payment gateway is. In order to transact sales online you’ll need an ecommerce platform, merchant account to process credit cards, and a payment gateway that integrates into your website. The gateway also integrates with your merchant services account so that payments can be accepted. Think of it in this way – A gate that either blocks or allows the passage of something to get through. Just like a gate to your yard. I know this may sound a bit cheesy, but it is really just that. A payment gateway allows or blocks transactions.
Some ecommerce platforms such as Shopify, Square-up, Weebly and others integrate payments with the gateway so you never really see or hear about needing a gateway. As a CBD seller, you’ll hear a lot about high risk merchant accounts as well as needing a separate gateway.
CBD merchants that are trying to sell CBD oil online are going to need a cbd merchant payment gateway such as Authorize.net . Most merchants get Authorize.net confused with being the actual credit card processor. As mentioned, above the gateway, Authorize.net only allows or blocks transactions. It can do other things too, such as send e-invoices, recurring billing, and fraud prevention. Authorize.net does not actually process the transaction. This is where you payment processor also known as merchant services company comes in.
Authorize.net is widely accept on most ecommerce platforms. See below:
CBD Merchant Account BigCommerce – Yes, no added fees
CBD Merchant Account Shopify – Yes but with added fees
CBD Merchant Account Volusion – Yes, no added fees
CBD Merchant Account WooCommerce – Yes but need to buy an Authorize.net plugin ( $79)
If you’re interested in opening a cbd merchant account, Merchant Discount Rate can help. We also provide the Authorize.net gateway at wholesale prices. We also wholesale other gateway’s compatible with CBD merchants.