WooCommerce, developed by Automattic, and one of the largest and leading online store platforms, declared their partnership with merchant accounts service provider, Square yesterday. This partnership will see the two giant companies extend their services to CBD businesses that sell items online. And while this is good news to most people in the CBD industry, there are still a couple of things to worry about. For example, the pitfalls, as well as the restrictions that the two companies will have to overcome.
In December 2018, the United States federal extracted Cannabidiol, also known as CBD from the list of controlled substances. This is because CBD is one of the many identified cannabinoids in cannabis that don’t contain the psychoactive effects of tetrahydrocannabinol. Additionally, the Agricultural Improvement Act that was brought to light in 2018 lifted some restrictions and gave a clear path on how farmers could sell CBD products.
CBD still exists in some states in the United States, and there are some state and local laws that still prohibit the selling of CBD products or other substances that are related to it. That said, merchants need to note that there are some of the critical legal factors that they need to consider, even though it is allowed at the federal level. To make sure that this is done, merchants should always keep a check on the local laws to see what has changed.
Other notable challenges include finding a reliable payment processor, shipping agency, web host, and financial institutions … Read the rest
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