Selling CBD online could be about to become a whole lot easier — payment processor Square has at long last started trialing (in beta form) an account for merchants trading select CBD products online.
Companies that sell Cannabidiol (CBD) online have trouble accessing even the most basic of financial services, like credit and debit card processing, that are available to business in other sectors at the click of a button.
Square — one of the leading payment processors — is hoping to change that though with the introduction of a merchant account tailored to authorized retailers selling Cannabidiol with no more than 0.3% of THC.
“Square is currently conducting an invite-only beta for some CBD products,” a spokesperson for the company said in an email. The firm was unwilling to share additional details about the enrolment requirements, however.
From what we can tell, the account is being offered to businesses with a license to trade CBD in the US, which have a website that’s aimed towards educating and selling where suitable, rather than selling for the sake of it.