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Important Notice To Elevon CBD Merchants

Elevon has placed CBD and Hemp-Based merchants on their prohibited list.

Elevon is no longer accepting merchants selling CBD and hemp-based products. They have placed CBD merchants in their prohibited business category.  CBD Merchants currently on the using Elevon for their credit card processing are required to find a new solution within 45 days. For more information, please read over the letter from the CEO of TouchSuite, Sam Fietz, regarding the current Elavon’s policy on CBD. Please contact us today about a new credit card processing solution that accepts CBD Merchants.

What to do if You Were an Elavon Customer?

First, see if your merchant services platform or processing vendor has other options. Many platforms have relationships with several credit card processing institutions, and you may be able to move to one without these restrictions. BMJ has partnerships with several processors and independent banks who are happy to be working in the CBD space, and can help keep your business moving. (We have already contacted clients who were working with Elavon to make other arrangements.)

Second, if you need to find a new merchant services partner, there are a few things to keep in mind.

  • The company you chose should be a registered ISO (independent sales organization) with Visa/MasterCard.
  • In addition, make sure they have experience in the CBD marketplace. That they are not just somebody who came in for the gold rush, but an institution that understands the complexity of the processing situation.
  • Lastly, find out if they have an attorney opinion letter regarding the processing of credit card transactions in the United States.

The attorney opinion is important because it signifies that this business believes in the CBD industry and your right to transact in it. As you can see, any partner with a wavering commitment to those rights could be very disruptive to your business.

CBD is an emerging industry in the United States, and the regulatory landscape is evolving. Make sure you’re partnering with companies who will commit to supporting your vision with steady policies and provide a stable base for you to thrive.