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Starting June, Many CBD Companies Will No Longer Be Accepting Visa

Since the beginning of May, many CBD business had yet another obstacle thrown in their path when they were notified by Evalon — a commonly used credit card processor for the industry — that they could no longer accept Visa payments on their sites.

Although some have already stopped accepting Visa payments, other companies claim they have two weeks before they will be forced to find a new payment processor. CBD businesses have had a notoriously difficult time maintaining regular access to banking and payment processing services. Business owners we have spoken to claim that nearly 70 percent of their transactions are Visa purchases. Hopefully it will be a smooth transition for those in the industry, who have everything riding on the success of their businesses.

For now, we will continue to cover this developing story to keep our readers updated with the most accurate information on the topic. Please note that this is only impacting online businesses at the moment. Alexandra is the managing editor at CBD Testers. She has always been interested in alternative and natural remedies, and the versatility of cannabis as a healing plant is something that greatly appeals to her.

It's for this reason that she decided to work as a cannabis industry journalist and editor, to help spread accurate information about the benefits of this plant. This site uses Akismet to reduce spam.

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This means that every time you visit this website you will need to enable or disable cookies again. Written by Alexandra Hicks. Popular payment processor for the CBD industry recently notified all of their e-commerce customers who sell cannabidiol that they will no longer be able to process Visa payments at the end of the month.

For more on banking and payment processing, make sure to subscribe to our Weekly Newsletter , the top source for all things cannabis-related. Share this:. Like this: Like Loading You may also like. View all posts. Leave a Reply Cancel reply. Sorry, your blog cannot share posts by email. Privacy Overview This site use technologies, such as cookies, to customize content and advertising, to provide social media features and to analyse traffic to the site.

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Cbd Oil Anxiety Disorder, Buy Cbd Oil Johannesburg, Cbd Oil Buy California Order Visa Vape Cbd 'e of*'*^ nrity, notations and publishers reach new audiences. Although some have already stopped accepting Visa payments, other many of which might have to find another CC to purchase their CBD products. Please note that this is only impacting online businesses at the moment.

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Since the beginning of May, many CBD business had yet another obstacle thrown in their path when they were notified by Evalon — a commonly used credit card processor for the industry — that they could no longer accept Visa payments on their sites. Although some have already stopped accepting Visa payments, other companies claim they have two weeks before they will be forced to find a new payment processor.

Shopping, Shipping & Delivery

An influx of online businesses are introducing CBD into their ecommerce stores. Since the passing of the Farm Bill, which was signed into effect by President Donald Trump in December and removed hemp from the definition of marijuana under the Controlled Substances Act CSA , an increasing number of ecommerce business owners are searching for payment gateways that allow CBD merchant processing. In an effort to meet consumer demand for CBD products, such as oils, capsules, supplements and topical solutions, the non-psychoactive cannabinoid is being stocked inside an ever-growing number of brick-and-mortar shops and online ecommerce stores. Back in , Dr. Some 23 years later, scientists managed to assess its structure in clarity. Ultimately, this kick-started plenty of research into a molecule that has since been hailed a medical marvel ingredient.

Will Credit Card Companies Be the Undoing of CBD Product Sales?

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Rich has been a Fool since and writing for the site since After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns though typically not all exercised at the same time , but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Think an article needs a correction? Reach Rich here. The online natural products marketplace was told to immediately remove the products from its website or it would no longer be able to process credit card payments via the processor, who was not named. Thrive naturally complied, but it should be a major concern for all retailers looking to hop onto the CBD bandwagon. Hemp Authority, which has been working to develop a certification program and label for hemp products. Stripe considered the business a liability, according to CNN Business. Supermarket giant Kroger also just announced it would be adding CBD products to its shelves.

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