In this episode, we’re diving deep into the unique challenges CBD businesses face in banking, payment processing, and compliance with Brian Fitzpatrick, CEO of Qredible, and Drew Harris, Director of Global Accounts. Join us as we explore how Qredible is reshaping the CBD landscape by providing solutions that help businesses operate smoothly and stay compliant in this high-risk industry.
Key Topics Discussed:
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The CBD Industry’s Payment Processing Crisis
- Flashback to 2019 when Elavon, a major credit card processor, suddenly cut off CBD companies, leaving many without a way to process payments.
- Challenges CBD companies face with "high-risk" classification and finding reliable payment processing services.
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The Qredible Advantage
- How Qredible’s platform goes beyond traditional solutions like Shopify and WooCommerce, with specialized features designed to reduce compliance costs and streamline operations.
- The modular design of Qredible’s platform, allowing companies to integrate essential features like COA management, compliant labeling, and secure e-commerce transactions directly into their existing systems.
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Essential Features for CBD Businesses
- COA (Certificate of Analysis) Management: Keeping your products’ COAs easily accessible and compliant.
- ComplianceBot: Scans content for compliance, flagging any language or phrases that might lead to regulatory issues.
- Compliant Labeling Tools: Design labels that meet all industry standards, with built-in compliance features.
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Future-Proofing Your Business in a High-Risk Industry
- Drew discusses the importance of making strategic, scalable decisions for long-term success.
- Brian shares insights on how technology can help CBD businesses grow while avoiding common regulatory pitfalls.
Why You Should Listen: Whether you’re a CBD entrepreneur or a high-risk industry professional, this episode provides critical insights into navigating the complexities of compliance, protecting your business, and setting yourself up for scalable success. Learn how Qredible can empower your business to not only survive but thrive in a highly regulated landscape.
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