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  1. #1

    CBD e-commerce merchant services

    Which banks offer credit card processing for online CBD sellers?

  2. #2
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    Quote Originally Posted by FundingTap123 View Post
    Which banks offer credit card processing for online CBD sellers?

    Currently, NONE - Both MasterCard & Visa have placed CBD as a Prohibited Product.

    You can probably find a aggregate account(s) more than likely off-shore if you want to play that game.

    If you want a safe-secure-quick setup - Check 22 and for repeat customer a Closed Loop Peer-to-Peer Payment,
    which is an Electronic CASH Credit - Instant Payments - NO connection to Visa/MasterCard.

    1 Day Merchant Account Activation

    Call me @ 727-233-1111 for complete details.
    Dave Lambert
    FC Financial LLC
    dave@fcbankcard.com
    http://www.fcbankcard.com
    1-727-291-7890 (Text or Leave Message)
    Office: 727-233-1111

  3. #3
    I have what you are looking for, let's chat.
    Email me at jstewart@malyngroup.com to set up a time to get on a phone call.

  4. #4
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    Anyone that is supposedly offer a legal CBD Credit Card Processing they have to ignore a possible BRAM Violation:

    At the annual 2019 MAC conference (Merchant Acquirers Committee), the Federal Trade Commission (FTC) declared that the commercial sale of CBD is "illegal".
    An issue that the Federal Trade Commission has not properly addressed is a previous ruling by the Food and Drug Administration (FDA) which determined that CBD containing less than 0.30% THC by volume is legal in all 50 US states.

    Immediately after the FTC announcement, Mastercard leadership stood up, and in front of about 500 risk managers declared the sale of CBD to be a BRAM (Business Risk Assessment and Mitigation) violation and ineligible for Mastercard processing.
    Dave Lambert
    FC Financial LLC
    dave@fcbankcard.com
    http://www.fcbankcard.com
    1-727-291-7890 (Text or Leave Message)
    Office: 727-233-1111

  5. #5
    According to my personal opinion there is no way currently, both MasterCard & Visa have placed CBD as a prohibited product. I tried to use this when i try to shipping internationally with usps not only with UPS others have same criteria too i often use these service with different platform https://www.pilotdelivers.com https://www.bws.net/en http://www.pakistancargo.net and daily faces these difficulties.

  6. #6
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    Old thread, but new post. Personal opinion be gone, CDB is doable both on the MC and Visa rails, and with various other solutions.
    I don't know about shipping, but as long as there's no THC content, traditional MIDs are possible, and even without that there are a few solutions. Email me, we can set up a time to talk.
    Micah Markowitz | mmarkowitz@abfunders.com | 855-33-GO-ABF (direct)

  7. #7
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    Cannabis - CBD continues to be prohibited on their networks.

    There are a few Sponsoring Banks that are claiming they will do MRB, CBD Topicals - but, all are miscoded
    - either MCC 5499 or 5999.

    Florida is enforcing new CBD Regulations:

    https://www.thefloridahealingconnection.com/cbd-oil-florida

    Then you have the FTC Stepping up enforcement


    https://www.fdacs.gov/Cannabis-Hemp/Hemp-CBD-in-Florida

    https://www.ftc.gov/news-events/press-releases/2019/10/ftc-fda-warn-florida-company-marketing-cbd-products-about-claims


    One Factor remains in place - CBD is NOT Legal in all jurisdictions.

    Dave Lambert
    FC Financial LLC
    dave@fcbankcard.com
    http://www.fcbankcard.com
    1-727-291-7890 (Text or Leave Message)
    Office: 727-233-1111

  8. #8
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    Why not just use Square?

  9. #9
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    Quote Originally Posted by WestCoastFunding View Post
    Why not just use Square?
    Dave, the problem with your statement is that Square and Shopify both started doing it (although I heard that Square stopped? I don't have confirmation). However, we as brokers wouldn't get paid for it.
    Micah Markowitz | mmarkowitz@abfunders.com | 855-33-GO-ABF (direct)

  10. #10
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    Quote Originally Posted by abfunders View Post
    Dave, the problem with your statement is that Square and Shopify both started doing it (although I heard that Square stopped? I don't have confirmation). However, we as brokers wouldn't get paid for it.
    Square still does it. They’re running google ads promoting it. But it’s true, brokers wouldnt get paid.

    https://squareup.com/us/en/solutions/cbd

  11. #11

  12. #12
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    I do have relationships to help the CDB merchants that we could make money. Anyone can feel free to shoot me an email, I can make an intro.
    Micah Markowitz | mmarkowitz@abfunders.com | 855-33-GO-ABF (direct)

  13. #13
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    You are correct regarding Sqaure - currently have an 8 week processing time for Hemp / CBD

    Square is closing accounts as fast as merchants are opening, since many are not using the correct application.

    Keep in mind that Square is an aggregate and still have to follow Visa/MasterCard Regulations.

    Many merchants are skirting underwriting, but, run the risk of closed accounts and having their funds held for months.

    There are a few sponsoring Banks that are sticking their necks out and attempting to board MRB / CBD.

    Just keep in mind, all of these Bank Applications are falsified, since there is NOT an MCC for Cannabis.
    I've spoken with several sponsoring Banks, they code under 5499 & 5999

    Proceed at your own risk - you can check out Esquire Bank, Avidia Bank, Bank of Fresno, Mission Valley Bank.

    Cannabis/CBD/Hemp are all High Risk/Prohibited Accounts and are expressly prohibited on the Card Networks.
    Dave Lambert
    FC Financial LLC
    dave@fcbankcard.com
    http://www.fcbankcard.com
    1-727-291-7890 (Text or Leave Message)
    Office: 727-233-1111

  14. #14
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    Quote Originally Posted by abfunders View Post
    Dave, the problem with your statement is that Square and Shopify both started doing it (although I heard that Square stopped? I don't have confirmation). However, we as brokers wouldn't get paid for it.
    Select and apply for a third-party payment gateway. Shopify Payments is not available for hemp or CBD products at this time. However, Shopify has partnered with third-party payment gateways that support the sale of certain hemp and/or hemp-derived CBD products. The requirements for approval may vary for each gateway. Review the requirements and apply directly to any of these gateways using the following Shopify-specific links:
    Dave Lambert
    FC Financial LLC
    dave@fcbankcard.com
    http://www.fcbankcard.com
    1-727-291-7890 (Text or Leave Message)
    Office: 727-233-1111

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