Is Elavon turning you off? Study right here for a seamless transfer.

April 1st brought upsetting news to the CBD marketplace that was no April Fool’s joke. Elavon announced, helpful instantly, they would no longer be accepting applications for CBD processing. 

Also, they stated they will be officially closing all existing CBD merchant accounts on May well 15th. Any organization with CBD solutions was sent a letter notifying them they had 45 days to obtain new credit card processing choices.

Why are Elavon Merchant Solutions Ending?

Elavon teamed up with US Bank to be one particular of the biggest CBD merchant processing businesses on the marketplace. So why finish all the enterprise? US Bank reported getting flooded with CBD businesses hiding that they have been also promoting THC. The bank also had an influx of these businesses wanting to set up banking accounts straight, which is against US Bank policies.

Elavon additionally claimed that the speedy selection was due to the substantial quantity of fraud and chargebacks in the CBD business. This lead to them putting all CBD and even hemp solutions on their prohibited solutions list.

On line message boards are getting flooded with CBD businesses pleading for support. And with superior result in, possessing spent thousands on top rated of thousands of dollars on advertising and marketing and manufacturing now with now way to accept credit card payments.

What to do Without having Elavon Credit Card Processing?

These in the business know the important troubles in CBD merchant processing approval. For several, Elavon’s news was devastating and stressful. But it does not have to be! 

Our mates at CannAccept supply merchant processing, banking, and lending options for these in the CBD space.

CannAccept is currently assisting CBD businesses get ahead of the May well 15th Elavon account closing deadline. So take some CBD and head more than to CannAccept for much more info on new merchant processing options. 

See… are not you feeling calmer currently?