The same is true for some high-risk merchant processing companies. Because they haven’t been around all that long either, they might not be as reliable as you’d want or provide you with all the services you need. You may also be concerned about falling victim to hidden processing fees, slow access to funds, and contracts that are difficult to get out of. You may be in the process of shopping for your first merchant processor to help grow your business. Either way, you may think that because you’re in a high-risk industry that you may have to settle for less than the ideal company to help you capitalize on selling CBD and Hemp online as well as in-store. Well, think again.
If you’re a retailer in the emerging, high-risk CBD and Hemp industries, you might not have been in business all that long.
While your business may be a relative newcomer, established payment processors are now applying their knowledge to service the CBD and Hemp industries’ merchant processing needs. These companies have been in business for many years and understand the challenges high-risk merchants face in finding secure and convenient payment solutions.
Here are some questions to keep in mind when researching for the right merchant processing company for you:
- How long has the company been in business?
- Do they have a successful track record?
- What kind of contract terms do they offer, and how easily can you terminate the agreement?
- Are their service rates fixed, or can they increase at will?
- What kind of technical support do they offer?
- Do they provide help with loss prevention?
- What is their rate of customer retention?
We think you’ll find that longevity is a testament to how well a company serves its customer base. Go online to check for reviews and what kind of complaints may have been posted by their customers. By reading reviews, you may learn about hidden fees or rate hikes that other customers have experienced. It’s better to learn from someone else’s mistakes than to make them yourself. If you require a high-risk merchant processing company, do your research and compare your options.
Another thing to keep in mind is that some of the emerging payment processing solutions may be a larger organization’s subsidiary. This is a good thing as it means that you will enjoy an established company’s dependability while having unique solutions designed to meet the needs of the CBD and Hemp Industries. One example of this would be Unity Payments, a subsidiary of Nuvo Company. With over 35 years of experience serving various businesses, Nuvo Company is an established leader in the merchant processing industry. Unity Payments was explicitly founded to support the CBD and Hemp industries with a refreshingly different approach than you might find with a traditional payment processor. Their advantages include no contracts, no cancellation fees, locked-in service rates, 24/7 tech support, and loss prevention specialists. As a services provider to the CBD and hemp industries, Unity Payments will approve vendors selling all types of CBD and hemp products, provided the THC levels are below 0.3%, for people or our furry friends. Solutions like Unity Payments offer the flexibility and dependability you need to keep your business running efficiently.
If you are ready to change processors or would like a free audit of your existing processor, call Unity Payments at (321) 972-9838 or sign-up online.