The 2018 Farm Bill includes a provision that legalizes the cultivation of hemp (cannabis with less than 0.3% THC). Our program has strict policies ensuring all Hemp/CBDproducts are hemp-derived and below the 0.3% threshold.
What is prohibited or restricted within this program?
Any product containing more than 0.3% THC.
Products marketing or advertising disease claims.
Cannabis products not derived from hemp are prohibited – no affiliation with dispensaries and no paraphernalia.
No refillable vape pens/kits in a card not present environment.
No free trial or membership billing – no affiliation with the Affliate Marketing networks.
In addition to the normal paperwork and KYC requirements for boarding, what else isnow required to board a merchant?
Completed merchant CBD Addendum
Completed CBD Disclosure Form
Certificate of Analysis (COA) for all products being sold
Product Labels must list the amount of CBD per serving and THC amount
Will the Hemp/CBD program require a new ISO/Agent agreement?
Yes, there is separate agreement/addendum and pricing schedule for this program.
What types of ISO/Agent programs are available?
There are two different programs available currently:
The Referral Program has a mixed revenue share and no liability, with no responsibility to the partner outside of referring the merchant.
The Direct Program requires the partner to take on a portion of liability to share in additional revenue. Similar to your normal means of operating this allows the most control over the merchant opportunity.
Is Hemp/CBD Program Available on Both MXA and Vimas?
At this time the program is only available on MXA.
If I am a current MXA User will I be able to use my current code to board?
No, a new code will be created in MX and will reflect “CBD – Your Office Name”. If you are not a current MXA user, training will be provided. Referral deals will receive a sub-code under the Priority House Code.
Is the same merchant application used?
No, Priority is using a new sponsor bank for this program. A new bank branded merchant application will be supplied to you for merchant boarding. For a referred merchant deal, you will be provided with a Referral Sheet along with instructions on where/how to submit.
Are there any additional pricing items required for Hemp/CBD merchants?
The most notable expense item is for the Compliance Monitoring Fee and carries a one-time setup cost of $100 and a subsequent monthly fee of $100. This is a required service that monitors for both card brand and regulatory compliance.
Are there any specific terminals or gateways required for this program?
The program does not require any specific hardware or gateway/shopping cart configurations.
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