The growth of the CBD industry has been unprecedented even if it has been controversial due to legal restrictions on the use of the cannabis or hemp plant.
But the growing demand for CBD products, especially for the treatment of chronic pain and seizures, has continued to inspire CBD business owners like me to keep pushing the boundaries forward, although that mission didn’t come without any struggles.
In fact, because of the legal status of CBD in the country, CBD businesses are tagged as high-risk merchants, which means that it’s harder for us to get approved for a payment processing account that will allow us to process credit and debit card payments more efficiently for our customers.
We’ve been rejected by traditional banks and have tried paying very expensive fees just so we could get a merchant account. Luckily, we found First Card Payments and we haven’t looked back ever since.
The benefits of using First Card Payments
As a CBD business owner, I always strived to offer the best service to our customers, especially those who use our products as part of their medical treatment. But without a proper payment processing partner, it was hard for us to be efficient as a company, and paying for those high merchant fees also left us almost without any profit. Thankfully, our CBD merchant account from First Card Payments has everything we need to serve our customers better:
- We didn’t pay any setup or application fees. We expected to pay for this, but First Card Payments surprised us, which was a huge relief knowing that we could’ve spent a lot just to get a merchant account.
- We enjoyed fast approval. When you’re tagged as a high-risk merchant, you assume more failures than successes in applying for a merchant account. But First Card Payments didn’t fail us. We just needed to process our application, and send our requirements and in only a few days, we got our own merchant account and have enjoyed it ever since.
- We didn’t incur high fees. One of the best things about working with First Card Payments is that the company doesn’t charge you very high merchant fees as opposed to other companies. In fact, the experts at First Card Payments can help you reduce merchant fees by up to 25%, which is a strong indication of its commitment towards helping its customers.
We know that the road towards CBD being considered legal is still a long way. But we are confident that with partners like First Card Payments, we can operate efficiently and offer our customers the best service that we can with the best products that we have.
Finding a reliable payment processing partner is not easy for any high-risk merchant, but First Card Payments has made it possible for high-risk industries like us to be given equal opportunities in terms of making our business as good and as trustworthy as your ordinary businesses.