Struggling with payment processing for terpenes and terpene products? Banks often label these as “high-risk”, but we’re here to change that narrative.
The Misunderstanding Around Terpenes
Despite being widespread in nature, terpenes are frequently misunderstood in the banking and payments sector. This misconception has unfairly burdened business owners, particularly those outside the cannabis industry.
The Unique Nature of Terpenes
Terpenes, organic molecules present in all plants, are the essence behind their scents and flavors. These compounds have a myriad of uses, from the pine scent in forests to the soothing aroma of lavender pillows.
The Banking Dilemma with Terpenes
Many businesses offering terpene products face account shutdowns or rejections from banks, primarily due to an association with the cannabis industry. This has led to a significant challenge in accepting payments for these products.
Terpenes: More Than Just Cannabis
Despite their presence in everyday plants like thyme, lemongrass, and even hops used in beer brewing, terpenes are often unfairly linked solely to cannabis. This lack of distinction has led to difficulties for businesses in securing merchant accounts.
Changing Perceptions: Terpenes in the Spotlight
The recent DEA clarification under the 2018 Farm Bill has brought much-needed clarity, recognizing cannabis seeds containing less than 0.3% THC as legal. This should pave the way for a broader acceptance of terpenes in the financial world.
Cannabis Market Growth and Payment Options
As the cannabis market expands globally, businesses involved in terpene sales play a crucial role. At Bankcard International Group, we offer innovative solutions for these businesses, ranging from credit card processing to alternative payment methods like ACH and Echecks.
Future-Proof Your Terpene Business with Diverse Payment Solutions
Our offerings ensure that your business is equipped to accept various forms of payments seamlessly. From credit card transactions to alternative payment methods like Bitcoin, we’ve got you covered.
Bankcard International Group: Pioneers in Terpene Payment Processing
At Bankcard International Group, we’re committed to providing comprehensive, transparent payment solutions for terpene businesses. Our in-house underwriting team evaluates each application individually, ensuring fairness and understanding of your unique business needs.
Ready to Transform Your Payment Processing?
With our expertise and strong banking partnerships, we’re here to support your terpene business. Contact us today to explore the best payment solutions tailored to your requirements and let’s grow together!
