A Delta-8 Merchant Account is essential for companies selling products in hemp space. With many different types of THC alternatives, delta-8 has proven to be one of the most popular sellers with consumers and smoke shop merchants. As such, specific underwriting regulations that address this hemp variety have emerged in the payment processing field.

How To Find A Delta-8 Merchant Account

To get a delta-8 merchant account, you’ll need to apply with a high risk payment processor. Unlike aggregate payment processors like PayPal, Square, or Stripe, high risk processors specialize in risky verticals. Moreover, it’s important to know that if you apply for a merchant account with an instant approval provider like the ones mentioned above, your account can get dropped. 

To ensure you get the right account in the shortest time possible follow the steps below:

1. Find A Delta-8 Payment Solution – A quick search of high risk payment processing companies will populate a number of results. But even within these results, finding one that boards delta-8 is difficult. Reach out to multiple companies or read their industries pages to determine if they’ll be a good fit for your needs.
2. Website Form – Most companies should have an easy way to get in contact with them, and the best is usually to find a contact page. Give them your name, email, phone number, and they should reach out promptly with next steps on the process.
3. Fill Out An Application – Next you’ll need to share more details about your delta-8 business. The merchant application is usually a few pages and asks for more detailed information such as who owns your company, what payment processor you’re using, and how much volume you plan to use for transactions. 
4. Document Request – After filling out the application, you’ll need to share certain documents. They will also ask for a history of your revenue and past transactions. This gives them a good relative understanding of your volume requirements and chargeback history. For hemp companies a Certificate of Analysis or COA is a must. Be sure to get your products certified by a lab ahead of time to ensure expeditiousness.
5. Underwriting – Their Underwriting team will review all of your information and put together a file for the bank to review. They may also come back to you requesting certain changes such as updates to your website. This can include the language you use to describe items, ingredients, or even changes to products themselves. 
6. Merchant Account Approval – After all of the above steps are complete your Delta-8 merchant account will be approved!
7. Payment Gateway – Lastly, be sure to install your payment gateway. This is the piece of technology that allows you to process credit cards on a website. It’s just a short piece of code and should plug into most shopping carts and online selling platforms.

Why is Delta-8 High Risk?

As it stands, this type of account is considered riskier than normal due to certain legal restrictions. Moreover, CBD-related items have gone through legal changes both federally and on the state level. Because of that, there is still uncertainty for many merchants about how they can accept payments. The good news is that there is a steady movement towards opening regulations and decreasing the risk profile of this industry.

Historically, THC is the culprit when it comes to legality and selling hemp-infused products. However, the Farm Bill Act in 2018 details the amounts of THC that are considered legally acceptable. Specifically, businesses can sell hemp items