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.
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:
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