“Network CRM Account Merging”

Find Your Hemp/CBD Merchant Processing Match...


The Ultimate Guide for seeking the best merchant processing for CBD (and any other) Businesses


Three Key Truths:

  • Most merchant processors will squeeze you for as much as they can.
  • Hidden Fees are hard to find, even in statements. Most never know they’re paying them.
  • Promises of rock-bottom rates are a mirage. A sales tactic meant to hook you.

But don’t worry! The right knowledge and questions will help you find the best merchant processor fit for your business. Read to the end to find out exactly what to look for!

This Conversation Sound Familiar?

You: “Okay great, what are the fees?”

Sales Dude: “Glad you asked. We start at 2.89% for high risk CBD processing.”

You: “Really? That’s cheap! What’s the catch?”

Sales Dude: “No catch--it’s that simple. We come in at the industry leading rate because we’ve been doing this a long time, we know how to do it, reason X-Y-Z, blah, blah, blah…”

Next thing you know, you’re signing contracts, and what was billed as a simple plan has magically transformed into endless pages of legal mumbo-jumbo.

And the rock-bottom rate? It might exist, just not in the realm of reality for your business. You’ll never see it.

In fact, the low rate that was promised requires a perfect storm. You’ll only achieve it if the buyer uses a debit card, and only if they swipe that card using hardware provided by the merchant in a “card present” transaction.

In reality, it won’t happen nearly enough (or ever) for most businesses. The advertised rate will almost never be what you’re actually charged. That mythological 2.89% will balloon up to 3, 4, 5% or more.

One of the main culprits for this inflation is variable rate processing.  

What’s Variable Rate Processing?

It’s the opposite of flat rate. It means the rate changes depending on what card is used and how it is used to buy your products. And because more than 98% of ecommerce purchases are “card not present” transactions made using rewards or corporate cards, often including American Express, the processing fees go up sharply.   

In fact, the vast majority all your transactions will be thrust into the most heavily penalized category of transactions.

How Else Will They Get You?

Unsurprisingly, the payment industry has come up with a slew of ways to nickel and dime their clients, and like to give their fees creative name. Here are several popular ones, along with one I invented myself. Guess which one I made up!

Transfer fees. Refund Fees. Statement Fees. Batch Fees. Batman Fees. PCI Compliance Fees. Address Verification Fees. Gateway Fees. Cancellation Fees. Monthly Minimum Fees.

This is not an exhaustive list. And these fees may or may not be apparent on your statement! I should point out...not all fees are “made up” or conjured simply to nickel and dime you. Some, like the PCI compliance and Gateway fees are legitimate fees. However, the best merchants will cover those fees for you. It’s great when they do.

*and yes… I made up “Batman Fees,” but that’s exactly what they do. Make stuff up to squeeze out a little more of your earnings.

What to Look For (and to Look Out For)

Here’s a little guide to help discern if merchant processors are right for you. Not every business is the same, and what fits you best may not be for everyone, but these rules apply nearly universally.

Say YES to Flat Rates. Even when a flat rate is higher than the lowest rate you’ve seen, you’ll know what you’re paying and you’ll end up paying less over the long haul almost every time.

Say NO to variable rates. You do not want to pay different rates for different cards and different use cases. Especially for online, card-not-present sales.

Say YES to merchant processors that DO NOT require contracts. Make your merchant continue to earn your business.

Say NO to Contracts. Don’t get locked in to any deal or sign any long term commitments. You will want flexibility and the ability to go somewhere better without impediment.

Say NO to Setup Fees. There are many merchants that have no application, setup, or startup fees. Some merchants will even give out free hardware. Why pay when you can get it for free?

Say Yes to freebies. Some merchants will cover legitimate fees that you would otherwise be responsible for. For instance, free Authorize.net (or other gateway), free PCI compliance. Free hardware. Free software.

Who Does CannTrade Recommend?

The Payment Industry is Seriously Flawed. Enter Moolah.

CannTrade wants the best for you. We have done extensive research and met with several great and not-so-great solutions.

Ultimately, we’ve partnered with Moolah because their offering was the best of the bunch. Their model doesn’t have any of the No-no’s listed above. Not even one. On top of that, their service checks all the YES boxes for what we believe a merchant should offer.

One flat fee. No surprises or hidden costs, all the time.

But you don’t have to take our word for it! Armed with the knowledge above, you can scour the landscape for the best fit for your business (or use your current merchant if you have one you love) to sell your products on CannTrade Markets.

Want to know more about how CannTrade can help your CBD or Ancillary business? Visit CannTrade.com and sign up for free today!

Want to sign-up your business for Moolah through CannTrade today for free?

  • Hemp/CBD companies do that Here
  • Ancillary Product companies can do that Here

Are you a Cannabis business looking for banking solutions and merchant processing? CannTrade can help with that as well! Click here to learn more.

Checking out with a credit card

Regulated Cannabis Market

Hemp & CBD Merchant Processing

Provider: Moolah

World Class Hemp/CBD Merchant Processing with industry best flat rates, zero setup costs, no commitments, 1-2 day funding, and nothing hidden, ever.

Regulated Cannabis Market

Cannabis Merchant Processing

Provider: Alt Thirty-Six 

The best cannabis payment platform. Elegant solutions for payment issues confronting cannabis businesses. Send & receive secure, instant payments with funds held in USD.

Regulated Cannabis Market

Industry Merchant Processing

Provider: Moolah

Industry support business merchant processing with industry best flat rates, zero setup costs, no commitments, and nothing hidden, ever.

More Topics & Updates

How To's Contacting Buyers & Sending Offers When listings match a supply request, you can contact the buyer with an
How To's Creating Supply Requests - Buyer Sourcing Searching for a specific product? Looking to lock down your supply chain?
“Cannabis Marketplace Powerups” Update 2.4 Cannabis Marketplace Powerups Marketplace Update 2.4 Our wholesale cannabis marketplace shopping experience just got better.
Software Update 2.1 “Cannabis Business Network Upgrade” Software Update 2.2 “Feedback Optimizations” The latest update includes several improvements based on