What is CBD?
Cannabidiol, or CBD, is a cannabinoid found in cannabis. Unlike THC, CBD does not produce a psychoactive effect, and this means that CBD does not make you feel high but still provides many of the same benefits as other cannabinoids. CBD effectively treats various medical conditions, including anxiety, depression, chronic pain, and more.
CBD is just one of over 100 cannabinoids found in cannabis. Cannabinoids are compounds that interact with the body’s endocannabinoid system. The endocannabinoid system is a network of receptors and molecules that regulate various functions, including pain, appetite, mood, and more. CBD interacts with the endocannabinoid system to produce its therapeutic effects.
CBD is available in various forms, including oils, tinctures, capsules, edibles, and topicals. It can be taken orally, inhaled, or applied to the skin. CBD is non-intoxicating and does not produce any psychoactive effects, making it safe for use by people of all ages and backgrounds.
What are the Benefits of CBD?
Studies suggest CBD oil could offer a range of health benefits, from relieving pain and anxiety to reducing inflammation and even helping with weight loss. Here are five ways CBD oil could benefit your health:
1. Reducing inflammation
CBD has been shown to reduce inflammation in the body, which could help to treat conditions like arthritis, asthma, and Crohn’s disease.
2. Relieving pain
CBD oil is thought to be analgesic, meaning it can help relieve pain. This could make it helpful for conditions like chronic pain, migraines, and fibromyalgia.
3. Reducing anxiety and depression
CBD oil has been shown to reduce anxiety in some studies and may also help treat depression.
4. Helping with weight loss
CBD oil boosts metabolism and promotes weight loss by reducing appetite and increasing energy levels.
5. Reducing acne
CBD oil has anti-inflammatory properties, which could help to reduce acne.
How CBD works
CBD is a compound found in cannabis plants. Unlike the more well-known THC, CBD does not produce a high or intoxication. Instead, CBD works with the body’s endocannabinoid system to promote balance and homeostasis.
The endocannabinoid system is a network of receptors and cannabinoids that regulate various functions throughout the body. By interacting with this system, CBD is thought to provide relief for conditions like anxiety, pain, inflammation, and more.
CBD is available in many forms, including oils, tinctures, capsules, edibles, and topical creams. It can be taken orally or applied directly to the skin, and the most popular method of taking CBD is via oil drops placed under the tongue.
CBD is non-addictive and does not produce any psychoactive effects. It is safe to use and has a shallow risk of side effects. CBD is legal in most countries, but its laws vary greatly.
The Trouble with CBD Payment Processing
When it comes to CBD, big banks won’t play ball. CBD retailers find that they can’t process payments through traditional methods, like credit cards or PayPal, because of the legal gray area around CBD. This creates a significant obstacle for businesses that want to sell CBD products, as they cannot accept payments from their customers.
This issue is causing many headaches for CBD retailers. Not processing payments makes it difficult for them to keep up with demand, resulting in missed sales opportunities. In addition, it can be costly for businesses to find alternative payment processing solutions.
So why are big banks steering clear of CBD? The answer likely has to do with the uncertain legal landscape around the compound. CBD is legal in some states, but not all, and the federal government has yet to take a clear stance. This ambiguity creates much risk for banks, so they’re reluctant to get involved.
CBD retailers are hopeful that the legal landscape will become more apparent shortly. In the meantime, they’ll have to find workarounds for payment processing. One solution is to accept payments in cash or cryptocurrency. This can be inconvenient for customers, but it’s currently the only way to process payments through traditional channels. Alternative payment processors like Square and Stripe are also starting to offer services for CBD businesses, which could help streamline transactions.
So while big banks stay on the sidelines, CBD retailers will have to get creative with their payment processing solutions. Until the legal landscape around CBD becomes apparent, this will likely continue to be a significant challenge for businesses.
Why Some Providers Refuse to Work with CBD Sellers
Despite the rapidly growing popularity of CBD products, some merchant account providers are hesitant to work with businesses that sell them. Here’s a look at some of why this may be the case.
One of the biggest concerns for merchant account providers is fraud. Because the FDA does not yet regulate CBD products, there is no guarantee that they contain what they claim to have. This makes it difficult for merchant account providers to verify the product and protect themselves from chargebacks.
Another concern is the legal landscape surrounding CBD products. While hemp-derived CBD is now legal in all 50 states, marijuana-derived CBD is still illegal under federal law. This creates uncertainty for merchant account providers, who may be worried about working with a business that is technically breaking the law.
Finally, some merchant account providers don’t want to deal with the hassle of working with CBD businesses. They may find the industry too risky or difficult to work with, so they avoid it altogether.
How can Kryptova help businesses?
If you have a high-risk business like CBD and are having trouble finding a payment processor, Kryptova can help. We specialise in merchant accounts for high-risk industries and can provide you with the solutions you need to accept payments globally. With Kryptova, you’ll have access to crypto and credit card processing to choose the best option for your business. Contact us today to learn more about our services and how we can help your high-risk business succeed.
