BOCA RATON, Fla., Nov. 15, 2018 /PRNewswire-PRWeb/ -- American
Bancard, dba TouchSuite announced today that it has begun accepting
CBD merchant account applications in the U.S. and Canadian markets.
TouchSuite will underwrite merchants selling CBD products online or
in a card present setting. This change comes after a thorough
review and understanding of the risks associated with the industry.
CBD accounts will be boarded via a domestic sponsor bank
relationship. This enables TouchSuite to aggressively pursue
merchants serving a hypergrowth segment.
CBD is traditionally been perceived as having legal and
regulatory risks. As a result, merchants have been forced to pay
exurbanite processing rates. Additionally, merchants that were
early adopters in selling CBD products were forced to open offshore
merchant accounts. These off-shore merchant accounts would
indiscriminately raise fees, and negatively impact the cash flow
cycles of business owners. As a result of today's announcement, CBD
merchants will benefit from more efficient processing rates and
have access to TouchSuite's support and operations teams.
"We are thrilled about the opportunity to help CBD merchants
accept credit cards. CBD is a high growth market that is expected
to grow at double digit rates in the coming decade. As CBD products
transition from perceived inaccuracies to mainstream, TouchSuite is
well positioned as a processing partner." said Sam Zietz, Chief Executive Officer for
TouchSuite.
Headquartered in Boca Raton
Florida, TouchSuite is a leading financial technology
company that delivers business solutions for small to mid-sized
companies across different industries. Offerings include
point-of-sale systems, payment processing services, SEO solutions,
working capital and marketing services. TouchSuite positions itself
as the entrepreneur's partner, delivering solutions that help
business owners thrive within the community.
If you would like more information or to discuss an opportunity
with TouchSuite, please call (800) 793-3250, email
info@touchsuite.com, or visit http://www.touchsuite.com/CBD.
SOURCE TouchSuite