December 19, 2018–Charge.com announced today that, as a result of the passage of the 2018 Farm Bill legalizing the sale of CBD, Charge.com will now provide merchant accounts for merchants selling CBD and products containing CBD.
Merchant accounts for businesses selling CBD have been very difficult to obtain in recent years. Fortunately, Charge.com is now offering domestic US merchant accounts for CBD merchants. Until recently, merchants were forced to obtain offshore credit card processing to sell CBD oil and other CBD products online to credit card holders.
CBD, which is short for “cannabidiol,” is a chemical derived from the marijuana or hemp plant, which is widely used to treat a variety of health problems including insomnia, chronic pain, anxiety, and epilepsy; however, CBD has only received FDA approval for the treatment of two rare, severe forms of epilepsy. CBD does not contain a significant amount of tetrahydrocannabinol, more commonly known as “THC”, and CBD is not believed to be psychoactive.
In a major win for farmers, the 2018 Farm Bill also legalized the production of hemp, from which CBD oil can be derived, which has countless industrial and textile uses, and which is easier to grow with less environmental impact than cotton or other crops with similar applications. Prior to the passage of this bill, it was extremely difficult and expensive for most merchants selling CBD to accept credit cards from their customers. Studies show that accepting credit cards can increase sales by 500% or more, so the inability to accept credit cards potentially made it very challenging for many merchants selling CBD to grow their businesses.
Founded in 1995, Charge.com is one of the oldest and most respected online credit card processing companies in the world. Charge.com has been rated the #1 retail merchant service account provider six years in a row, and has received the highest possible rating from Apple Computer, Inc. and AOL. Charge.com boasts that it is “the easiest, most affordable way to accept credit cards for your business,” and backs up that claim with a low-cost guarantee. “We are very excited to be able to help merchants selling CBD grow their business by accepting credit card and eCheck payments from customers all over the country and all over the world,” said a Charge.com spokesperson, “Whether a company is well-established, or just starting out as a home-based business, or anything in between, virtually any legal business can accept credit cards with Charge.com, and that now includes businesses selling CBD products.”
Merchants selling CBD products—or virtually any other product or service—can sign up to accept credit cards by visiting Charge.com’s website at www.charge.com or by calling them at (888) 924-2743.