CBD Sellers on Shopify Need To Know This...

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headshop9
New Member
3 0 0

How much does this cost us and how long does it take to set up?

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Jon-Karl_PK
Tourist
3 0 1

No upfront costs, 10 day boarding time is average. Keep me posted how I can help jon-Karl@paykings.com 

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kjproweb
Shopify Partner
76 5 16

Hi Headshop9,

Just curious. What kind of products do you sell online? And do you sell via retail outlet as well? Feel free to post a link to your website. 

With the name "headshop9", I assume that maybe you sell paraphernalia for the consumption of cannabis, tobacco, and perhaps glass, pipes, bongs, grinders and so forth? It that's the case you should go with [online bank direct debit] as an alternative to credit cards. You can get approved today (no credit check) and start accepting payments by morning.

  • We built a Shopify-approved plugin that allows for instant bank direct debit. It works just like Zelle and Venmo without the hassles.
  • It's even faster, more secure, and half the cost of accepting credit cards.

I wish you the best of luck trying to find a US domestic credit card processor that accepts paraphernalia. CBD isn't a problem, but smoke and paraphernalia is an uphill struggle.

Happy Selling,

Kevin James  

Kevin James
Expert Web Developer & Shopify Partner
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Ace864
Tourist
7 0 1

I'm also interested in products you sell? Where I can check it?

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Ace864
Tourist
7 0 1

Agree! A lot of banks would give you credit for opening a business that sells hemp-based products. First of all, marijuana is not legalized everywhere. Obviously, the bank cannot give money to you for any illegal activities. Secondly, not all creditors would believe that CBD is not that harmful, and actually can cure a lot of things. This problem is actually quite huge for all the retailers. That is the reason why it is so hard to find a local store in small towns that sells CBD. I usually order CBD products online on https://knockoutcbd.com/cbd-product-category/cbd-vape-pen/. Recently, I ordered a vape pen and cannot wait to try it.

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kjproweb
Shopify Partner
76 5 16
Effective August 2020 - several US states introduces new laws that directly impact all CBD sellers. Regardless of who handles of your payment processing, these new changes affect your CBD business.
 
  • In August 2020 - four states have banned the sale of any form of hemp/cbd products: Idaho, Iowa, Nebraska, and North Dakota.
  • Your shopping cart drop down selection menu must restrict sales of any hemp/cbd products to those states.
  • Additionally, certain states have banned the sale of edibles: Maine, New York, North Carolina, and Ohio.
  • Your shopping cart drop down selection menu must restrict sales of those products to those states.

 

Happy Selling,

Kevin James
Shopify approved partner | Expert Developer
ISO representing multiple payment processors
kevin@kjproweb.com | 818-850-1034

www.kjproweb.com

Kevin James
Expert Web Developer & Shopify Partner
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Newuser26
New Member
1 0 0

Hi Kevin,

 

COULD YOU PLEASE PROVIDE ME A LIST TOO? THANK YOU!

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Tomelius
New Member
9 0 0

Hi,

 

Could I please also get some information sent to me? Have been looking for a solution for months!

christian@skincareforyou.eu 

Thanks in advance

//Christian 

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kjproweb
Shopify Partner
76 5 16

IMPACT OF COVID-19 ON HIGH-RISK MERCHANT ACCOUNTS (CBD, Hemp flower, vapes, kratom, and more). October 26, 2020

Millions are laid off work or lost their job during the coronavirus pandemic. The payments industry noticed how consumer credit card charge-backs and disputes skyrocketed from an industry norm of 0.5% to a historic 20%. Travel companies, for example, have seen a 300 percent increase in chargeback issuances since February. For other verticals, though, the impact will hit later.

By September things got worse. Consumer chargebacks industry-wide catapulted to an unprecedented 15 to 50 percent above the industry norm.

In mid-October 2020 PayPal, Stripe, Square, and other leading payment processors announced that they will begin adding “dispute fees”.

Starting in November, some credit card processors will enact a 30% reserve hold on funds to cover chargeback risks. PayPal Holdings Inc., Stripe Inc., Square Inc., and Worldpay are making some businesses wait additional days or weeks to access funds deposited in their accounts, citing the need to protect themselves against losses when buyers pursue a refund.

Solutions you can adopt now to boost online sales in a down economy and improve customers while eliminating the risk of consumer chargebacks.

  • Instant Bank Direct Debit is the perfect alternative to credit cards. (Don't rid of your credit card processor. Use Instant Bank Direct Debit as a backup safety net)
  • Online bank direct debit lets online shoppers pay by logging into their bank account (without being diverted away from your checkout page). 
  • Instant bank direct debit is faster and less expensive than credit card processing. It's the preferred payment option among millennials.
  • Same-day settlement of funds or within 12 hours --- and no risk of charge-backs.

No credit check required to use the service. Get approved and activated the same day OR within 24 hours.

Kevin James 

CEO, KJ ProWeb | a Shopify approved partner and expert web developer

(818) 850-1034 & kevin@kjproweb.com

 

Kevin James
Expert Web Developer & Shopify Partner
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Tomelius
New Member
9 0 0

Kevin,

 

Would you mind sending me additional info on this? And what it would cost to have this setup?

Thanks

//Christian

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