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Any suggestions for finding a payment processor for cbd?

Discussion in 'BlackHat Lounge' started by mike_t_sukka, Feb 20, 2020.

  1. mike_t_sukka

    mike_t_sukka Newbie

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    I cannot for the life of me find a payment processor. They are all requiring 10k a month within the first 90 days which seems a bit unrealistic for startups . Do any of you guys know of any processors or work arounds to getting one?
     
  2. ODBmoney

    ODBmoney Newbie

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    Use something like skrill or stripe, why does the fact that you're selling CBD matter?
     
  3. macdonjo3

    macdonjo3 Jr. VIP Jr. VIP

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    Because you're going to get your account shutdown? lol

    https://stripe.com/en-ca/restricted-businesses

    Regulated or illegal products or services: Marijuana dispensaries and related businesses; sale of tobacco, e-cigarettes, and e-liquid; online pharmacies; age restricted goods or services; weapons and munitions; gunpowder and other explosives; fireworks and related goods; toxic, flammable, and radioactive materials; products and services with varying legal status on a state-by-state basis; goods or services, the sale of which is illegal under applicable law in the jurisdictions to which your business is targeted or directed

    OP - just use whoever your competition uses. That's what I do anyways.
     
  4. ODBmoney

    ODBmoney Newbie

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    Right I forgot cbd is still illegal in some states, so dumb...
     
  5. macdonjo3

    macdonjo3 Jr. VIP Jr. VIP

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    I know how you feel. I'm from Canada so I order cannabis in the mail right to my door.
     
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  6. ODBmoney

    ODBmoney Newbie

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    that sounds awesome im in Vegas we still gotta go into the dispensaries and wait in line but the weedman caught on and they pretty much all deliver now
     
  7. macdonjo3

    macdonjo3 Jr. VIP Jr. VIP

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    We have dispensaries here too but they have huge markup, for good stuff like $8 USD per gram vs $3 USD per gram online. Sometimes cheaper if you buy a QP or even a lesser strain, which a lot of people do.
     
  8. Global Giant

    Global Giant Registered Member

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    Try paykings, if they dont work out DM me and we can chat on skype, i'll connect you with a few of my contacts...
     
  9. mike_t_sukka

    mike_t_sukka Newbie

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    im here in cali and its still hard asf!! All those payment processors want is people who are already or will be earning what takes a startup years of being well established to make LOL it's ridiculous. As soon I get thru all the damn paper work though I should be good to go with one that was recommended to me by a wholesaler
     
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  10. mike_t_sukka

    mike_t_sukka Newbie

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    yes!!!! i was in contact with them. It was before i had a supplier tho and thats all they needed me to have left to be brought on. I might actually call them tomorrow and see who i can get lower rates out of,, do u think your contacts could get me a good rate or help just starting into the industry w/ connections with the best distributers?
     
  11. Global Giant

    Global Giant Registered Member

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    Unfortunately high risk processing is not cheap when it comes to rates and it all depends on vertical. Have you submitted an application with them already? I only ask because you cannot submit multiple applications with different ISO'S they all use the same banks in the end so it does not matter. DM me lets chat...