**Payment gateway is provided by Pinwheel (now Bankful Inc.). No monthly recurring fees when monthly minimum sales volume is $50.00 per month or greater.***All hemp-derived CBD products must not exceed 0.30% THC by weight volume. Cannabis products are strictly prohibited.
To avoid untimely delays in the approval process, make certain that your website contains all seven policy pages. Federal Trade Commission guidelines strictly prohibit the publication of unsubstantiated medical claims relevant to the use of CBD products.
The U.S. Food & Drug Administration (FDA) Federal Trade Commission strictly prohibits making any statements, claims or allegations that could be interpreted as a health benefits derived from the regular use of CBD products.
Remove any statements that could be interpreted as “pain relief”, cure, remedy or improved health.
The merchant must publish on the target website valid independent laboratory issued Certificates of Analysis (COAs) for each batch of CBD product sold.
If hemp flower and pre-rolls are sold each product must hold a valid laboratory Certificate of Analysis.
As an industry best practice, publish a hyperlink in the footer section of the website leading to the COAs.
Certificate of Incorporation / Articles of Incorporation & Operating Agreement – if your business is a sole proprietorship submit a copy of your Doing-Business-As (DBA) registration paperwork.
Proof of address can be verified by submitting a copy of a Lease agreement or Utility Bill.
Submit a copy of laboratory issued Certificates of Analysis (COA’s) for each batch of hemp flower, pre-roll or CBD sold on the website.
Submit a color copy of government issued personal identification of the owner and each person holding 25% ownership interest in the company.
Submit a voided check to identify the account where funds shall be deposited. If you do not have a voided check a letter from your bank signed by a representative of your bank will do.
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SERVICE DISCLAIMER & LIABILITY WAIVER: Under no circumstances does the submission of an application for a merchant account, payment of bank imposed application fees (if any) or any other fees make up guaranteed approval of your merchant application. The ISO/sales agent shall not be held financially responsible nor liable for any costs, fees, business expenses or any losses if an application for a merchant account is declined.
INDEMNIFICATION & WAIVER OF RISK & LIABILITY
Merchant/Applicant agrees to indemnify, defend, and hold harmless KJ Proweb, its officers, directors, agents, employees, and suppliers from and against any lawsuit, claim, liability, loss, penalty or other expense (including attorneys’ fees and cost of defense) they may suffer or incur as a result of (i) a bank, ISO/MSPs inability to deliver merchant processing services as described in an Enrollment Application for Service. This indemnification and waiver of liability include, but is not limited to (ii) unforeseen actions by a federal government agency that may place hemp-derived CBD products into a high risk or ‘prohibited category by major card brands, thus making it impossible to receive traditional merchant processing for the same. If you, the merchant/applicant do not agree with nor accept this Indemnification and Waiver of Liability in its entirety, do not apply for service.