Payments processor Square is making its services available to more businesses that sell cannabidiol (CBD) products, according to Forbes.
Square said in a blog post: “We believe everyone should be able to participate and thrive in the economy. Today, we’re thrilled to launch our CBD early-access program, which allows businesses in the U.S. to sell CBD products on Square quickly, easily, and securely.”
Square said that products sold through its platform must be hemp-derived and contain less than 0.3% THC.
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This is part of an ongoing issue of banks and credit card processors refusing to service companies that sell hemp products: Back in June, Thrive Market was forced to stop selling CBD by their credit card processor. The House recently voted to allow financial institutions the opportunity to provide services to CBD-related businesses, however, marking a turning tide for providers of CBD products.
Get more details from Square here.