After running their online CBD business for over 8 months, a USA merchant encountered numerous issues with scaling due to their restricted payment options.
According to their prior PSP, their only options for accepting payment were aggregated solutions such as Paypal and Stripe. However, the merchant soon realized that Paypal/Stripe charged exceptionally high fees, and, that due to their business model, neither was a long-term solution.
Corepay conducted an analysis of their existing payment options and suggested a properly coded direct merchant account for the company. Due to their excellent reputation, strong processing history, and financials, Corepay successfully obtained the CBD merchant a new merchant account in less than one month. This merchant account was capable of taking on all of their existing volume, while allowing for future growth, and plugged into their existing CRM.