LegitScript has recently conducted research to gain a better understanding of the online CBD landscape. This article will tell you the result of the analysis and will also help you find the right high risk merchant account for your e-commerce business.
Cbd Landscape In The U.S.: High Risk Merchant AccountIn the U.S., CBD is mostly banned as an ingestible. The financial investigations team at LegitScript has studied the way transactions were being processed for the 30 products purchased. One of the cases revealed had to do with money laundering. Also, the team revealed 8 instances of offshore processing with surprising cross-border fees. Many of the studied payment processors were found to be based in the U.K. or in other EU countries. Are you a CBD merchant seeking reliable and affordable payment processing services for your business? This can’t be an issue if you work with a respectable high risk processor in the U.S. that’s dedicated to providing the most secure, fastest and cheapest high risk merchant account in the space.
Legitscript Study On CbdThe compliance company LegitScript has conducted a survey of 300 online CBD sellers. The purpose was to get a better idea of the state of regulatory compliance in the e-commerce industry. Based on the results:
- 294 or 98% of the websites having participated in the survey weren’t compliant in at least 1 of the 3 categories.
- 46% weren’t compliant in 2 categories.
- 37% weren’t compliant in all 3 categories, meaning that 83% weren’t compliant in 2 or more categories.
- Over half of the products studied contained at least 20% less CBD as compared to what was written on the product packaging.
- Almost 1/3 of the products had less than half of the amount of CBD advertised.
- Over 10% contained significantly more CBD as compared to what was stated.
- Only 33% came with CBD potency with a reasonable variation from what was stated.
- Some of the products tested came with heavy metals and carcinogens.
- 1 of the 30 products tested contained 18.5 times the allowed amount of lead.