In late April of 2019, Visa stopped permitting CBD transactions to pass through their card brand network. Therefore, it doesn’t make any difference how many different banks or credit card processors you reach out to or submit an application. You will not receive a merchant account that allows Visa card payments.
‘Starting June, Many CBD Companies Will No Longer Be Accepting Visa’
Originally published by CBD Testers Weekly News Digest
‘CBD E-commerce up in the air as Visa halts payment processing’
Submitted by Marijuana News on Thu, 05/16/2019
‘Shakeups Continue with CBD/Hemp Related Payment Processing’
May 10, 2019, 07:00 ET
COLORADO SPRINGS, Colo., May 10, 2019 /PRNewswire/ — Merchant processor Fortress Payment Technologies recently notified all their e-Commerce customers selling CBD products that they would no longer be able to process Visa payments through their bank. Some of their merchants received less than eight hours of notice of these changes.
This trend has been especially troubling and disruptive to the CBD/Hemp related businesses who have struggled to maintain access to consistent banking services.