Domestic CBD Merchant Account Solutions - 2020

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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

 

  • Supported by 2 US Domestic banks
  • Online & Mobile Rates: 4.95% Flat + $.25 cents per transaction.
  • Retail Rates: 3.95% Flat + $.25 cents per transaction.
  • Authorize.net Gateway ($.19 cents per transaction)
  • Visa, MasterCard, AMEX & Discover Card accepted from your customers
  • Next day deposit and availability of funds
  • New start-up businesses accepted – business must be 3 months older + 3-month average bank volume greater than $2500
  • Monthly fee $45 (gateway and 24/7 support)
  • Annual fee $149
  • No 'rolling reserve' hold on funds and fear of getting shut down.
  • To avoid getting rejected, your website must comply with strict underwriting guidelines. I will forward those guidelines to you.
  • Individual MID (Says your name on receipt/card statement)
  • We can Pre-vetting your business takes 24-36 hours.

 

Option 2: EMB Pinwheel Gateway Integration With Square (Take payments in 60+ Days)

 

  • Online: 4.25% Flat + $.30 cents per transaction.
  • Retail: 3.9% + $.10 per transaction
  • Pinwheel Gateway (1-2% + $.20)
  • Visa, MasterCard, AMEX & Discover Card accepted from your customers
  • 24-48hr deposit and availability of funds
  • New start-up businesses accepted – must process over $10,000 in 60 days or get shut down
  • No previous merchant processing history required
  • No 'rolling reserve' hold on funds and fear of getting shut down.
  • Square MID (Says square on customer receipt/Credit Statement)
  • Annual Max 

 

There are other third-party workarounds like using a CRM and Email Automation Systems. 

IntegrityPay, Expert Web Developer, High-Risk Processor, CBD Consultant, Merchant Processor, & Shopify Partner
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New Member
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Hey Jason,

I sent you my info from your site to set up cbd merchant processing account for my start up company website. I have no sales at the moment. I am getting some products in and put it on site ans what happens. Can you help in this situation?

Thank you, Uday.

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Hi,

 

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.

IntegrityPay, Expert Web Developer, High-Risk Processor, CBD Consultant, Merchant Processor, & Shopify Partner
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New Member
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It is zero sales. Website is in the process of setting up.
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Hi Uday,

 

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!

IntegrityPay, Expert Web Developer, High-Risk Processor, CBD Consultant, Merchant Processor, & Shopify Partner
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Shopify Partner
74 5 15

To: Jason,

 

Outstanding work! You and your company are actually getting it done as promised. Highest recommendation and endorsement.

 

Keep up the great work! 

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

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.

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New Member
6 0 0

Hi there,

we have set up a shopify store in the Uk. We already sell to wholesalers and just wanted to bring it to masses we are struggling with a merchant account I was wondering if you can help in the UK.

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New Member
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@IntegrityPayJD wrote:

My question is has your business existed longer than 3 months and does your business bank account have more than $2500? 

We have both of these but are UK based, would that work?

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Tourist
16 0 2

If you're still looking for a merchant account, give us a try:

https://payments.cannesis.com/register

We can get great rates, the application is pretty quick and has everything you need to get approved.

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