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aablaisdell

CBD Oils and Balms - Ok with Square?

I'm in a professional forum where we are discussing whether our Square accounts will be terminated for retailing commercially available CBD products such as the balms from CBDclinic.co or ingestible oils such as https://realscientifichempoil.com/ . 

 

To my knowledge these products contain no THC which is the psychoactive compound in cannabis, and are therefore legal. Can you please advise us on the matter?

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Admin

Re: CBD Oils and Balms - Ok with Square?

Best Answer

Hello again!


I asked our team about this and they confirmed that we are unable to support these kinds of products.

 

While these items may be legal, we are obligated by our agreements with the card networks and other financial institutions that limit our ability to support your business.

 

I really appreciate that you took the time to check this with us! If you have questions about your account specifically let me know and our Compliance team will be happy to reach out to you directly.

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Admin

Re: CBD Oils and Balms - Ok with Square?

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Updated: January 2019

 

Though the US and Canada recently made changes to certain laws about the use of certain cannabinoid derivatives, CBD and Hemp products are still not supported on Square's platform due to the obligations we have with card networks, and other financial institutions. Though our team regularly revisits these conversations with our critical network and financial partners, we do not have a timeline on when they may become supported.

 

Should we make a change to our Terms of Service to support CBD and Hemp products, we will absolutely update this thread with the news. However, until further notice, these products are still considered a violation of our Terms of Service, and our Compliance team will take actions on any accounts where it finds an account in violation. (This includes using Point of Sale to manage cash-only transactions for CBD/ Hemp products.)


We really appreciate your patience and understanding on these policies, though we know it's not the news you want to hear. For more context into why certain products and industries are not supported, please read Why Can't Square Support All Businesses? For more details on specific products, please see Prohibited Goods and Services with Square Point of Sale. Finally, if you have specific questions related to products associated with your account, please email our Customer Success team.

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Admin

Re: CBD Oils and Balms - Ok with Square?

Thanks for your post @aablaisdell, great question!

 

I'm just going to check in with our Compliance team about this and I'll post an update here as soon as I can. Thanks for your patience! 

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Admin

Re: CBD Oils and Balms - Ok with Square?

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Hello again!


I asked our team about this and they confirmed that we are unable to support these kinds of products.

 

While these items may be legal, we are obligated by our agreements with the card networks and other financial institutions that limit our ability to support your business.

 

I really appreciate that you took the time to check this with us! If you have questions about your account specifically let me know and our Compliance team will be happy to reach out to you directly.

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aablaisdell

Re: CBD Oils and Balms - Ok with Square?

Thank you, I'll let my colleagues know.

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Stvnsnwdy

Re: CBD Oils and Balms - Ok with Square?

I also would like to use your company for my CBD store. Is their something in the works with the financial institutions to allow sales transactions? 

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Admin

Re: CBD Oils and Balms - Ok with Square?

Thank you for checking in, @Stvnsnwdy. We surfaced your post with our Compliance Team and we’re unable to support CBD sales at this time. Unfortunately, we’re unable to comment on any future plans for Square’s Payment Terms. Appreciate your understanding—we'll certainly announce any updates as they become available.

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badgervapes

Re: CBD Oils and Balms - Ok with Square?

Can we limit the sale of CBD products to cash only transactions when using the Square point of sale system?

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Admin

Re: CBD Oils and Balms - Ok with Square?

Hi @badgervapes, thanks for the post. To answer your question, no, we cannot support the sale of products that violate our terms of service, and that would include using Square Point of Sale to manage cash-only transactions for these products. We appreciate that you took the time to check in with us.

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vistasign

Re: CBD Oils and Balms - Ok with Square?

any update one the cbd now that it is mainstream and supported by several other cc providers? it is the end of 2018 and even amazon supports it.

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Admin

Re: CBD Oils and Balms - Ok with Square?

Hey @vistasign, thanks for weighing in with that information. I went to check for any updates, but there isn't anything that I can access and share out right now. We will definitely circle back to this post as soon as any developments come through.

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