Credit Card Processing for online sales

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This topic contains 4 replies, has 4 voices, and was last updated by  Mike Wiener 2 months, 1 week ago.

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  • #10635

    Debra Hass
    Participant

    Any recommendations for “hemp friendly” credit card processing companies for online sales of CBD from a farm in Colorado that is registered with the State of Colorado and tested? Any information would help. Thanks.

    Deb

    #10638

    Erica McBride
    Keymaster

    Hi Deb, We have a credit card processor on our business page: nationalhempassociation.org/business-members/ called BMJ Group. Check page to that page periodically as a few more have contacted us about joining NHA as well.

    #10645

    Sidney Hill
    Participant

    Hi Erica,

    The problem with using credit and debit cards is that these institutions are federally-based, meaning that anytime these are used in the hemp space there is a pretty major risk of shutdown (if you can lock one down at all). Any credit/debit card processor that claims to operate in these industries usually is operating through a foreign bank, which presents problems with declined cards/payments and can lead to thousands of dollars being stuck in limbo. Many people turn to services like PayPal, but these are usually shut down within a matter of weeks.

    My company, Zodaka, offers a solution that operates entirely domestically with quick payment settling and no risk of shutdown. We avoid credit/debit cards altogether by linking customers and merchants directly to their bank accounts. Also, our processing fees are less than 5% for every merchant on our system. If you are still looking for a solution, check us out at http://www.zodaka.com.

    #10646

    Sidney Hill
    Participant

    hello Deb,

    The problem with using credit and debit cards is that these institutions are federally-based, meaning that anytime these are used in the hemp space there is a pretty major risk of shutdown (if you can lock one down at all). Any credit/debit card processor that claims to operate in these industries usually is operating through a foreign bank, which presents problems with declined cards/payments and can lead to thousands of dollars being stuck in limbo.

    Many people turn to services like PayPal, but these are usually shut down within a matter of weeks. My company, Zodaka, offers a solution that operates entirely domestically with quick payment settling and no risk of shutdown. We avoid credit/debit cards altogether by linking customers and merchants directly to their bank accounts. Also, our processing fees are less than 5% for every merchant on our system. If you are still looking for a solution, check us out at http://www.zodaka.com

    Sidney

    #10667

    Mike Wiener
    Participant

    Hi Deb
    My name is Mike Wiener and we are a Gold Member with the NHA. We currently have 2 processing entities that are domestic. The rates are not cheap, but based on then high risk space for credit cards it is competitive with other high risk products.

    I have been in the processing space for the past 18 years and our parent company is in registered registered with Visa and Master card.

    Please feel free to gives us a call at 877-997-9473 and ask for Mike Wiener or Jarrod if I am not in.

    http://www.bmjgroupinc.com

    parent company- http://www.amgms.com

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