Is Credit Card Processing Right for Your Business?

These days, most people prefer paying with cards. But if your business only accepts cash, you could be losing customers without even knowing it. Picture this: someone is ready to buy, but when they hear “cash only,” they walk away. That’s a missed opportunity. Whether you run a shop, sell online, or deal in high-risk industries like hemp or gold, offering card payments could help your business grow. In these industries, where cash transactions can be risky and less convenient, credit card processing can provide a safer and more efficient payment solution. Let’s find out if credit card processing is the right fit for you.

What Is Credit Card Processing?

Don’t worry, credit card processing is a straightforward system that allows your business to accept payments from credit or debit cards, whether in person, online, or even by phone. It’s easier than you might think. It involves a few key players:

• The customer enters the card details
• The processor checks and authorizes the payment.
• Your business receives the funds in your account.

Today, modern processors also support options like ACH transfers, mobile wallets, recurring billing, and more.

5 Key Benefits of Accepting Credit Cards

Adding card payments to your business isn’t just about keeping up; it’s about making your business easier to run, more profitable, and more trusted by customers. Here’s how it helps:

• Increase Sales and Encourage Bigger Orders: Customers tend to spend more when using cards. It feels easier than handing over cash, which often leads to impulse buys and higher purchase amounts.
• Safer Than Dealing with Cash: Handling a large amount of cash increases the risk of theft or error. Card payments are more secure and reduce the stress of managing physical money.
• Get Paid Faster: No more waiting on bank checks or end-of-week deposits. With card payments, funds usually hit your account within 1-2 business days.
• Make Things Easier for Customers: People expect quick and easy payments, whether it’s swiping a card, tapping a phone, or making an online payment. When it’s easy to pay, customers are more likely to make a purchase.
• Ready to Scale with Your Business: Planning to grow your business, sell online, or open new locations? A good payment processor can scale with you, making expansion smoother and more efficient.

How Credit Card Processing Works | Step-by-Step Guide

If you’re new to credit card payments, the process may seem confusing at first, but it’s pretty simple once you break it down. Here’s how it works from start to finish:

Step 1: Choose the Right Payment Processor

The first step is to find a provider that not only understands your business type but also specializes in supporting high-risk industries, such as those involved in CBD, hemp, gold, or silver sales. A good processor will offer fast approval, full compliance support, and payment tools designed specifically for your niche.

Step 2: Select the Payment Types You Want to Accept

Your processor will ask which payment methods you want to offer. You can choose one or multiple, such as:

• Credit and debit cards (Visa, Mastercard, etc.)
• ACH bank transfers
• E-checks
• Contactless payments (Apple Pay, Google Pay, etc.)
• Recurring payments or subscriptions

Offering more options gives customers flexibility and increases your chances of making the sale.

Step 3: Set Up Your Payment System

Once approved, you’ll need to connect your payment method to your business. This could include:

• A POS (Point of Sale) terminal for physical stores
• A mobile card reader for on-the-go payments
• A virtual terminal for phone or manual entries
• Online checkout integration for your website

Your processor should help you set it up quickly, with minimal tech knowledge needed.

Step 4: Start Accepting Payments

After setup, you’re ready to go live. In many cases, businesses start accepting payments within 24-48 hours of approval. Your system will be prepared for both in-person and online sales, depending on your setup.

Step 5: Receive Your Funds

Once a transaction is made, the payment is verified and processed. Funds are then transferred to your business bank account, usually within 1-2 business days. You can monitor everything through your online dashboard, including daily sales, transaction history, and deposits.

Running a High-Risk Business? Here’s What You Need to Know

Not all businesses are treated equally by banks and standard payment processors. If your business falls into a high-risk category, getting approved for credit card processing can be more challenging, but not impossible. Industries often labelled as high-risk include:

• Hemp and CBD businesses
• Cannabis dispensaries
• Nutraceutical and supplement brands
• Gold and silver dealers
• Firearm-related sales

These industries are flagged due to strict regulations, compliance concerns, or a higher risk of chargebacks.

The Smart Solution: Use a High-Risk Payment Processor Like 2Accept

That’s where specialized providers like 2Accept come in. They’re built to support businesses that traditional banks avoid. Here’s what you get:

• Full Legal Compliance: Stay in line with federal and state rules with tools that help you process payments safely and legally.
• Fraud and Chargeback Protection: Built-in security tools help you handle chargebacks and reduce fraud risks so you can focus on growing, not disputes.
• Flexible Payment Options: Accept credit and debit cards, e-checks, ACH transfers, and more, all through one system.
• Online and In-Store Support: Whether you sell in person, online, or both, 2Accept helps you accept payments wherever your customers are.
• Fast and Easy Approval: Unlike traditional processors, 2Accept can approve high-risk businesses in less time, so you don’t miss out on sales.

2Accept vs. Other Processors | Why It Matters

Feature	2Accept	Generic Processors	Popular Alternatives
High-risk business support	Full onboarding	Often rejected	Limited info
Fast setup time	Within 48 hours	May take weeks	Varies
Accepts ACH & e-check	Yes	Not always	Cards only
Chargeback tools	Included	Basic	Minimal
Transparent pricing	No hidden fees	Often hidden	Hard to compare

How to Choose the Right Payment Processor

When selecting your processor, keep these in mind:

• Do they work with your industry?
• Is the setup fast and smooth?
• Are all major payment types supported?
• Do they protect from fraud or chargebacks?
• Is support easy to reach and helpful?
• Are the fees transparent?

2 Accept checks every box, especially for regulated or growing industries.

How the Right Processor Transforms Your Business

Seeing is believing; here’s a real-world example of what happens when you choose a payment processor built for your industry: A busy cannabis dispensary switched from a standard bank processor to a high‑risk specialist. In just one year, they experienced:

1- 40% More Transactions

After enabling credit, debit, and ACH payments, customers made more frequent and larger purchases. The convenience of multiple payment options drove volume up almost overnight.

2- Zero Account Freezes

With their previous processor, the dispensary feared sudden holds on funds. Since switching to a compliant, high-risk-friendly system, they haven’t faced a single freeze in 12 months, maintaining a steady cash flow.

3- 30% Savings on Fees

By negotiating industry-specific rates and avoiding hidden charges, the dispensary reduced its monthly processing costs by nearly one-third. Those savings were reinvested in marketing and inventory.

4- Higher Customer Satisfaction

Staff report smoother checkout experiences and fewer payment issues. Shoppers appreciate digital receipts, recurring order options, and mobile payment, all of which lead to better reviews and more repeat business. These aren’t isolated wins. They show exactly what a processor like 2Accept or another high‑risk specialist can achieve for your shop, whether you sell hemp, supplements, gold, or other regulated goods.

Frequently Asked Questions

Can I accept credit cards if I sell hemp or cannabis-related products?

Yes, you can, just not through traditional banks. You’ll need a high-risk processor like 2Accept that understands the rules and can keep your payments legal and stable.

How fast can I get approved?

Most businesses are approved within 24 to 48 hours, as long as your paperwork is complete and your business details are precise.

What if I receive a high number of chargebacks?

Choose a processor that offers built-in fraud protection, alerts, and expert support to help you prevent and manage chargebacks before they hurt your business.

Are all payment types included?

Yes. You can accept credit cards, debit cards, e-checks, ACH transfers, contactless payments, and even mobile wallets like Apple Pay and Google Pay.

How much does it cost?

Costs depend on your industry and volume, but the best processors offer flat, upfront pricing with no hidden fees. 2Accept is known for being transparent.

Can I process both online and in-person?

Absolutely. You can use a mix of card readers, POS systems, e-commerce tools, and virtual terminals to accept payments wherever your customers are.

Is Credit Card Processing a Smart Move for Your Business?

If you’re serious about growing your business, improving customer experience, and staying competitive, even in a high-risk industry, credit card processing isn’t just a feature. It’s a necessity. Whether you sell hemp, gold, or supplements, or run a local shop, the right payment system can remove limits and open new opportunities. 2Accept understands the unique challenges you face and provides everything you need: fast approval, full compliance, fraud protection, and payment flexibility across all channels. Don’t let outdated payment options slow you down!