Hi, we have a CBD company and the products have less than 0.3% THC if any at all in them. We were under the impression that we could not use square for cc processing and point of sale, but we know a couple of other CBD companies who use square for processing, can you explain this?
No business is permitted to sell CBD products using Square Point of Sale. There are no exceptions to the rule, if we find out a business is selling CBD products their account will be deactivated.
If you know a business that sells CBD products, that just means our Compliance Team hasn't deactivated their account yet.
It is officially legal all 50 states half both house and Congress set into law It's About Time Square gets on board and allows us to process and not use expensive processing you're losing out on a lot of business for no reason at all it is totally legal I sent a copy of the new law
@vistasign, The Farm Bill 2019 isn't law yet, the President still has to sign the Farm Bill into Law and likely will in the coming weeks. I'm sure Square will monitor the situation as it changes and then decide if they will change their position. They can choose to support or ban items as they see fit, see their stand on the 2nd amendment and no gun or ammunition sales thru Square which causes quite a bit of controversy itself, but a company can make decisions it deems in its users best interest. I would assume it will change in time as CBD is fairly accepted without controversy but you never know. it wasn't possible, and still isn't yet, to accept payments for a federally illegal item so it isn't that they are behind the times.