For businesses in the CBD and hemp sector, it continues to be a challenge to find a reliable payment gateway provider that actually accepts CBD businesses. Unfortunately, despite being completely legal in the UK, hemp-derived products (including CBD) continue to be flagged as ‘high-risk’ due in large part to the negative association with marijuana.
Recently we’ve seen Viva Wallet shut down the accounts of CBD sellers without explanation or support. This is devastating for businesses that rely on payment gateways to receive payments for their products.
We’ve been chatting to another well-established gateway provider: Worldnet Payments to find out what they offer, what their stance is on CBD and other hemp products and whether they are a good solution for CB companies in the UK.
If you are looking for an alternative to Viva Wallet or Patriot Payments and want to work with a company with an amount vast amount of experience in a number of sectors, not only high-risk industries, then Worldnet Payments could be the solution you’re looking for.
An Introduction to Worldnet Payments
Worldnet was founded in 2007 and has positioned themselves as the leading provider of enterprise-grade omnichannel payment platform solutions that enables their partners to either outsource their entire payment system or integrate their services into an existing gateway.
The company is headquartered in Dublin, Ireland and has an established base of international corporate clients throughout North America and Europe.
The company focuses on building long-term solutions with their clients working with companies across a wide spectrum of sectors, including:
- Insurance Brokers
- Sporting World
- General Retail
Because of their long-term commitment to working with businesses to offer a reliable, integrated payment solution, they are not positioned for businesses looking for a quick, easy solution.
At their core, Worldnet Payments values:
- Partnerships and people, prioritising long-term relationships and a customer-focus.
- Flexibility and adaptability, helping you curate the experience you want for your customers.
- Workable solutions, the complete payments solution offers a start-to-finish experience, not just a toolkit.
Worldnet Payments and the CBD Sector
Worldnet has been very clear on their stance of supporting CBD businesses in the UK, and they are by far the most reliable and cost-efficient gateway provider. In fact, one happy customer left this rave review:
“As a rapidly expanding business in the Hemp & CBD industry, it’s essential to have a reliable payments partner who supports our requirements. It’s well known that this has been one of the biggest issues companies have faced in this industry. We have been delighted with Worldnet’s products and services, and their support has been exceptional.”
– Tom Whettem
Chief Executive Officer
British Cannabis & Cannabidiol
They do not accept all hemp and CBD companies looking for payment gateway services and can only help those who are members of either the CTA (Cannabis Trade Association) or the EIHA (European Industrial Hemp Association).
What Does Worldnet Payments Offer for CBD Companies?
They are Level 1 PCI DSS compliant. This gives you the highest level of card payment security available. It also offers protection from internal card breaches.
This gives you the functionality to securely store your clients’ cards on the Worldnet Gateway. Then, when a client makes a repeat payment, those details can be used. SecureCard, therefore, means you only need to ask for a client’s card details once, and you can offer improved payment security.
Our reporting functionality ensures that you can keep track of every payment you process in one place. This means that all refunds, as well as any partial refunds, voids and more, can all be processed here.
4. Reduced Fees/Fast Settlement
Worldnet is independently owned, and they work with Cashflows UK to find the lowest % fees possible in the Hemp & CBD industry. They also offer a quick turnaround time on payments where funds are automatically settled to the company’s business account on a daily basis. This means that if a payment is made on a Tuesday, the funds will be available in your account by Thursday morning. Other payment processors, in comparison, can take up to ten days for the payment to reflect.
5. Easy Integration Options
Worldnet makes it as simple as possible to integrate its payment solutions by providing sample code in addition to plugins such as Woo-commerce, Magento, WordPress, Opencart, and many more. They also have a Tier 2 integrations team that is able to offer expert assistance designed to make the integration process a quick and easy experience. Integration guides are also available.
6. Dedicated Customer Support
They have a dedicated customer support team, ensuring that your company will always receive personal attention and quick resolution for any issues. Also, when you signup with Worldnet, they will assign a member of their team to be your designated business relationship contact.
7. Subscription Support
Through their API, Worldnet can now support subscriptions.
8. WooCommerce Plugin Modification for CBD
Worldnet has modified their WooCommerce plugin specifically for the CBD sector. The update allows for AVS (Address Verification System) purposed, which ensures that the customer and the acquiring partner (Cashflows) knows exactly where the seller is purchasing from.
- Worldnet Payments only accpet CBD companies that are registered with CTA or EIHA to ensure legitmacy
- They are a leading, well-established payment gateway solution provider with major clients throughout the US, UK, and Europe
- They offer the most cost-effective, reliable payment gateway solution for CBD businesses
- Their WooCommerce plugin has been specifically adapted for the CBD industry
- Their service is completely reliable and secure
- They have spoken publically about their willingness to be a payment gateway provider for CBD sellers