Happy New Year!
Here are your available solutions for processing as of January 2020, based on Shopify approved solutions.
Option 1: IntegrityPay CBD Domestic Program (Take payments in 3-7 Business Day)
Payment solutions for all CBD payment types: In-Person, Online, & Mobile
Products Approved: Hemp-Derived Flower, CBD Oils & Tinctures (Human), CBD Oils & Tinctures (Pets), CBD Topical Creams, CBD Salves and Rubs, CBD Gummies, CBD Beverages, CBD Vapes, CBD Terpenes, CBD Infused Skincare & Beauty Products, CBD Capsules, CBD Bath Bombs
Option 2: EMB Pinwheel Gateway Integration With Square (Take payments in 60+ Days)
There are other third-party workarounds like using a CRM and Email Automation Systems.
As long as your new start-up businesses are older than 3 months and your 3-month average bank volume greater than $2500, the underwriting team will review your account. If neither of those is true, we can talk through other options.
I understand that you are saying zero sales. My question is has your business existed longer than 3 months and does your business bank account have more than $2500?
Those are the minimum requirements for startups for this solution. If you have not been operating for at least 3 months and have at least $2500 in your bank account, these acquiring banks will see your business as too risky. There is another solution that we could set up, however, it does not work with Shopify.
I look forward to talking with you on Monday. Have a great night!
Hopefully you can help as I've been getting different answers. Does Shopify apply additional transaction fees on top of the 3-rd party payment provider? If so, what are those additional rates? Is it just the 2.0% for their "Basic" plan? Or is it the 2.0%, plus the Online credit card rates of 2.9% + 30 cents? Thanks in advance.
If you're still looking for a merchant account, give us a try:
We can get great rates, the application is pretty quick and has everything you need to get approved.