What are some alternative payment processors you would recommend for an eCommerce store that sells products containing CBD, after Stripe unexpectedly closed the account?
When it comes to finding alternative payment processors for an eCommerce store that sells CBD products, it is important to consider platforms that are CBD-friendly and compliant with legal regulations. While Stripe may not be an option, there are several other payment processors you can explore. Here are some recommendations:
Square: Square is a popular payment processor that is known for being CBD-friendly. They offer a range of payment solutions, including in-person transactions and online payments. Square has specific terms of service for CBD businesses, making it an ideal option.
Authorize.Net: This payment gateway has been used by many CBD businesses. They have a reputation for supporting CBD merchants, making it a trusted choice. However, it's important to note that Authorize.Net is not a standalone processor but rather a gateway that connects your eCommerce store to your merchant account.
PayPal: PayPal is a widely recognized and trusted payment processor that is CBD-friendly, although they have certain restrictions and limitations. It's worth exploring PayPal's terms and conditions to ensure it aligns with your business requirements.
Braintree: Owned by PayPal, Braintree is another noteworthy option for CBD businesses. It offers seamless integration with popular eCommerce platforms and provides robust security features.
Shopify Payments: If you're using the Shopify platform for your eCommerce store, then Shopify Payments could be a suitable alternative. They allow the sale of CBD products, offering a streamlined checkout experience for customers.
NMI: NMI (Network Merchants Inc.) is a payment gateway that supports CBD businesses. They have partnerships with numerous processors, making it easier to find a payment processor that fits your specific needs.
eMerchantBroker: This payment processor specializes in high-risk industries, including CBD. They offer tailored merchant account solutions and customizable payment processing options.
Remember to thoroughly research and understand the terms and conditions, fees, and legal compliance requirements of any payment processor you consider. Each processor may have different restrictions or requirements for CBD-related businesses, so choose one that aligns with your specific needs.
Additional questions related to this topic:
- What are the legal restrictions surrounding CBD sales in eCommerce?
- How can I ensure that my eCommerce store is compliant with regulations when selling CBD products?
- What are the best practices for finding a reliable and secure payment processor for my cannabis-related eCommerce store?
