Credit Card Processor Making Services Available to CBD-Related Businesses

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Credit card payment on a swipe or chip reader app on a tablet used by small or online businesses. The electronic device is used as a modern cash register or for banking.

Payments processor Square is making its services available to more businesses that sell cannabidiol (CBD) products, according to Forbes.

Square said in a blog post: “We believe everyone should be able to participate and thrive in the economy. Today, we’re thrilled to launch our CBD early-access program, which allows businesses in the U.S. to sell CBD products on Square quickly, easily, and securely.”

Square said that products sold through its platform must be hemp-derived and contain less than 0.3% THC.

Related: NPA Tells Congress: Regulate CBD, or Vaping Crisis Will Repeat
Arthritis Foundation Releases CBD Guidance for Adults with Arthritis
CRN Commends Mitch McConnell For CBD-Related Additions to Ag Appropriations Bill

This is part of an ongoing issue of banks and credit card processors refusing to service companies that sell hemp products: Back in June, Thrive Market was forced to stop selling CBD by their credit card processor. The House recently voted to allow financial institutions the opportunity to provide services to CBD-related businesses, however, marking a turning tide for providers of CBD products.

Get more details from Square here.

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