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Payment Processing

CBD Industry

AllayPay has been a cutting-edge payment provider in the worldwide rise of CBD, hemp, and Delta-8 products and trends. In a short time, we have experienced an industry boom that will only continue to provide new opportunities.

Common Problems When Selling CBD Products

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New To CBD or Delta-8?

CBD, or cannabidiol, is derived from the cannabis plant and has been used as a natural remedy for ailments, but with none of the psychoactive effects that are associated with THC.

Similarly, Delta 8 or simply D8, is a hemp-cannabis derivative that was first available in New York. It exists on the border between marijuana, which gives users a psychoactive “high,” and hemp-based CBD, which does not.

If you’re looking to start a “cannabusiness”, you’ll need to find a payment partner that’s willing to work with you in this high-risk market. That is where we shine!

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CBD, Delta-8, and similar hemp derivatives can be used for many products like lotions, gummies, bath bombs, and more. As an emerging or veteran brand, you have access to opportunities to expand and grow in this thriving market, and we can help!

At AllayPay, we know how vital it is to get your payment gateway secured before you start selling or expanding. However, only specific payment processors can approve your business because of federal limitations on cannabis and hemp. This flags CBD businesses as high-risk merchants, which makes providers more selective when reviewing your business for payment processing.

Even the largest payment aggregators like PayPal, Stripe, and Shopify Payments do not support the selling of CBD products. If you decide to work with them, your account can quickly be shut down, meaning you’ll have to start the entire payments process over again, which can ruin customer relationships and hurt your business.

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Why CBD is Considered High Risk

Despite all of the well-known health benefits, CBD has still considered a high risk to many banks and processors because of its association with cannabis.

With the rise of CBD, more skincare and health products have broken the mold and have begun to swarm the shelves of retailers and online marketplaces. However, not long ago any cannabis or hemp-derived product, whether it included THC or not, was federally illegal. It wasn’t until the Farm Bill of 2018 that CBD products were removed from the ‘Schedule 1’ label. Even so, many states still have their own individual laws and regulations around cannabis products, causing the general public and financial institutions to be wary about transacting with anything labeled CBD or hemp.

How to Apply for a CBD Merchant Account

To apply and get approved for a CBD, Delta-8, or hemp merchant account with AllayPay, you’ll need specific documentation to begin your application process. Here is what you’ll need:

  • Driver’s license, or valid government ID
  • Last 3 Months’ Business Bank Statements, if available
  • Last 3 Months’ Processing Bank Statements, if available
  • Additional support may be requested
Apply Today!
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How AllayPay Can Help

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With CBD products rising, getting access to several markets will be a top priority for your business. With AllayPay, we know the industry and can integrate a payment gateway that will work for you.
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Most merchant accounts you try to set up will have a long process, only just to be turned down at the end because you sell CBD products.
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When you have a partner like AllayPay who understands the industry, we’ll help you so you don’t have to bend over backwards to set up your account.
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Within 24-48 hours, we’ll be able to integrate our payment process platform with any third party gateway, so you can get your business up and running as quickly as possible.
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Not only that, but we stay up-to-date on all compliances and rules set by the bank to ensure your account doesn’t get shut down.

Opening a CBD or Delta-8 Merchant Account

AllayPay knows how to integrate your needs with our platform. With years of developing payment gateways to high-risk accounts, we provide an affordable rate that will grow your business and keep your accounts secured.

  • Process credit and debit cards
  • Integrate with real terminals, virtual terminals, and online shopping carts.
  • Provide processing for start-up business
  • Third party gateway compatibility
  • Updating policies due to legislation
  • Integrate with popular platforms like Shopify, WooCommerce, Magento, WordPress, and more.
  • Ability to process for retail, MOTO, and card not present sales
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Starting Your Payment Approval Process

Getting started with AllayPay takes only a few simple steps. By following these instructions, you’ll be on your path to securing online and in-store payments for CBD and hemp products.

  1. Fill out the quick pre-application form online.
  2. Our sales representative will get in contact with you immediately to finish your application process.
  3. Take a break while underwriting does its process. This typically takes about 24-48 hours.
  4. After our staff has approved your application, we’ll contact you to get started on setting up your payment gateway and card present merchant account for your business.
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Process With Us Today

Don’t waste any more time trying to find the right solution. Regardless of your industry, poor credit, or lack of payment processing history, we’ll work with you to get you on track for quick and efficient payment processes.

Apply Now