Cannabis, called CBD, is one of 113 active cannabis identified in cannabis. CBD or cannabis is a chemical in marijuana that offers many advantages with no high. Health experts are describing the advantages of cannabis as extraordinary. It is a promising treatment for epilepsy, forms of depression and cancer, and much more.
That CBD is fabricated in the hemp plant makes the sector a high risk one. This means retailers in the area can not secure payment processing for CBD companies easily. That is why it’s essential to turn to a respectable credit card processor like ipaytotal.com to get approved for CBD merchant account without challenges.
EMB is voted the #1 high risk payment processor in america and has an A+ rating with the BBB. There’s absolutely no business EMB does not cover. We provide high risk merchant accounts, including medical marijuana merchant accounts, at the lowest possible rates in the business.
When it comes to banks, they classify companies in certain industries, in addition to many online companies, as substantial risk due to different reasons. One of those reasons has to do with large quantities of chargebacks. Chargebacks are the fees that companies are required by credit card providers to pay to cover the losses due to disputed or fraudulent transactions.
Merchants are deemed high risk based on banks’ underwriting guidelines. That’s the main reason why different financial institutions or chips calculate risk differently. Fundamentally, risk is determined based on chargebacks and fraud. The more a company is related to chargebacks, the greater the risk.
High risk classification can also be based on the following variables:
- Business location
- Business size
- Credit history
- Credit card processing history
- High chargeback ratios
- Type of industry
- If a business exclusively operates online
As you see, applying to a real professional in the area is vital to your success. One reason Ipaytotal.com is the country’s #1 high risk merchant account provider is since EMB prides itself on being there for its clients when they want EMB most. EMB has helped tens of thousands of hard-to-approve retailers get the best for their high risk business demands, and retailers feel confident working.