Best Credit Card Merchant Processor for CBD Oil? [High Risk Alert!]
Out top recommendations for high risk credit card merchant processors. What I found out, the fascination begins...
Have you ever tried to start your own CBD business online?
Can you use shopify for CBD products?
Welp, the short answer is NO.
The long answer here will be ridiculed, however for those who are interested in the options you have if this is already the case, or for those who are just curious and dare to read on.
Technically under their terms and conditions you are not allowed to sell CBD on Shopify, but you'll probably be okay for the short term. I've tracked over 1000 online stores that sell CBD online and yes, many are on the shopify platform. But, it could be impending doom as I have also seen a small number of CBD stores that needed to switch from shopify to another ecommerce platform because of this very rule.
The way it works is usually…
- Start and setup domain.
- Setup and pay shopify.
- Sign up with paypal + stripe by shopify and allow payments.
- Start to bring in da TRAFFIC.
- You get a Sale! or maybe a few time to start collecting but wait, a few days, or weeks, or months go by and they hit your merchant account with a freeze. This is not the worst thing, usually this will end in a release of funds after a short period of time (~approx 90+ days) depending on your merchant provider.
During this time you probably don't have a merchant account back up so you are essentially paying subscriptions and fees to lose sales.
- You hook up the cc merchant provider and bam back in the money!
- You start crushing it selling 4 to 10 to 50+ orders per day, then bam, you get too big and shopify sees what's going on and shuts the site down. (Hopefully this step happens early for you)
- Now you gotta convert your site to WooCommerce, or even worse, MAGENTO, 🙁 wah wah.