SoarPay Is The #1 Choice For Hemp & CBD Oil Businesses.
- Instant Online Quote. When you submit your application, you’ll get an instant price quote to DocuSign. No offline paperwork, no faxes, no waiting.
- Industry Minimum Pricing. You will automatically receive Industry Minimum Pricing in your online quote. No more frustrating haggling with sales reps.
- USA-Based Customer Support. When you call or email, you’ll always speak to our friendly support team, based in Houston, TX.
Hemp & CBD Oil Credit Card Processing
Why We Proudly Accept CBD Businesses As Merchants (Even When Many Processors Don’t)
Many credit card processors do not accept CBD-related businesses for several reasons. The first, is that CBD oil, because of its association with hemp and THC, has a complicated and fast-shifting legal framework in the United States. As a result, for a sponsor bank to support CBD credit card processing they must understand and keep a dedicated eye on this industry. Second, because CBD Oil is relatively new, there are differing levels of quality in CBD based products, posing additional chargeback risk to the credit card processor. And finally, CBD oils, creams and related products are simply new products. Because of this, many sponsor banks and credit card processors simply have not changed their underwriting rules to reflect these new products.
Soar Payments, by contrast, is been proud to serve the hemp & CBD oil industry. Our extensive relationships with credit card processors and sponsor banks who specialize in underwriting businesses that may be perceived as “high risk” enables us to confidently support hemp based CBD related businesses. Moreover, we are experienced with the application and underwriting challenges that CBD businesses often face, and can help assist to make the approval and setup process easy.
Questions? Call Our Team: 1 (888) 225-9405
Frequently Asked Questions
What types of hemp & CBD oil businesses do you accept?
Soar Payments may consider for approval companies selling CBD Oil, as well as companies selling CBD Products, subject to the following:
Soar Payments may only consider for approval companies selling CBD Oil which meet the following criteria: must be capable of processing above $250,000 per month; must sell only products with 0.3% or less THC; must be willing to setup a bank account at the sponsor bank; must not be a startup company; must not make health claims on product advertising; must sell only B2B (business to business).
For companies selling CBD Products: must not be ingestible (must not be vaporized); must not be sole ingredient (may be a lotion etc. since it is composed of many ingredients); must not make health claims on product advertising.
If you have any further questions, or need further clarification, please call us for full details.
How Does The Application Process Work?
Step 1. Apply Online
Complete the online application process (it takes 5 minutes). Click here to begin.
Step 2. Get An Instant Quote
You’ll instantly receive a quote with Industry Minimum Pricing to DocuSign.
Step 3. Start Accepting Payments
Our Houston based Customer Support Team will help you get set up, fast and easily.
Click Here to Apply Online Now. It takes about five minutes, and you’ll receive an instant price quote to DocuSign.