Hemp merchant services are payment processing solutions for businesses who sell hemp-related products. These types of companies rely on high risk payment processors to accept credit card payments. Both online stores and retail locations have certain regulations that need to be followed in order to obtain merchant account solutions.
Hemp products include any items that are derived from or associated with the hemp plant – cannabis sativa or cannabis indica. Below you can see a list of the main types of business that sell products and services in this industry:
Hemp merchants have seen many advances over the years. From the 2018 Farm Bill to increased state freedom for the sale of CBD and other products. These changes have increased business growth and paved the way for vast changes in internet marketing.
In the past, it was difficult for hemp merchants to obtain payment processing, but with advances in legal culture many businesses are opening their doors to new opportunities in the field. Google recently updated their policy to allow certain ads on their search platform. As a result, online merchants have an increased opportunity to reach new audiences.
The Google change in hemp searching gives small shops the opportunity to advertise locally and beyond. This means many small businesses that sell CBD will be reaching out to high risk processors in order to take the next step in accepting payments and growing their business.