Evalon and other Merchant Processors, quietly began offering merchant services to hemp-derived CBD businesses last fall. (“Merchant services” refers to a banking relationship that allows a business to accept secure credit card or debit card transactions.) In 2019 the institutions pulled out of all CBD business accounts. Of course, much has happened between last fall and the present: Congress passed the 2018 Farm Bill. Uncertainty abounds in this industry, and financial channels are caught in the middle.
The merchant service providers have gave client companies a 45-day grace period to continue doing business and to find a new financial alternative which at this time there are non to be found in the US. All merchant service providers are closed to CBD Companies at this time.
We would like to thank our customers for Calling in to place their orders at this time. This is a process we as a company have to work though and hopefully in the coming weeks we will have a new Merchant Provider.