CBD Companies Lose Payment Processors for a Time

Screenshot 2019-06-01 17.12.52
Notice on the Hemp Barn site 6/1/19.  The site is back up and processing payments.

[Edit late 6/2/19: Many hemp and CBD websites lost their payment processors on 5/31/19.  Early reports from some of the sites tied this to the 5/31 FDA public hearing on CBD.  It seems that the problems were more specifically related to the payment processing company Elavon shutting down CBD processing.  It is unclear at this time whether this really had anyting to do with the FDA hearing.]

The FDA held a public hearing on May 31st to get input on how to regulate the booming CBD industry.  Published reports describe a very wide range of views expressed, ranging from CBD advocates and scientists to anti-marijuana spokespersons.  One interesting fallout of the meeting is that credit card processors dropped many CBD companies overnight.  A product that was easily ordered on May 30th with a credit card was now unavailable from many sites unless you mailed a paper check.
Shopping cart full of cannabis
This sort of thing has happened before.  At least one site reported that they are switching banks and expect to accept credit cards again within a few days (using a bank headquartered in Asia). Some sites had no information (as of June 1st) and the buyer simply got a cryptic error message after entering credit card information.  This happened to me on one site.

CBD products are now available in many brick and mortar stores, so if you are running low try these sources.  In addition to CBD shops I have seen it advertised in Bed, Bath and Beyond and in Earth Fare supermarkets, for example.  You should expect that most online sources will have convenient ways to pay within a week or two.

 

Author: cannabispharmacy

I work in a health profession and I am interested in CBD from a professional and personal point-of-view.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.