What an age we live in! Now you can buy CBD oil slightly more easily thanks to the magic of e-commerce.
Since the dawn of legal cannabis, people have had a hard time making online transactions. Weed has remained federally illegal, making it a no-no to buy it online using interstate banking services like pretty much any online sale.
The CBD industry, however, is a little different, because hemp-derived CBD has been more-or-less legal at the federal level ever since the 2018 Farm Bill went into effect.
E-commerce companies, naturally want some of the CBD boom money, and have started to officially support CBD merchants. Canadian e-commerce platform Shopify announced last month that it will offer its services to CBD retailers in 40 states.
Now Silicon Valley’s online transaction behemoth Square has said its getting in the mix too. Not only will the company make it easier to buy CBD by credit card through the company, but it will also offer services to merchants including hardware, inventory, and payroll.
“Square’s purpose is economic empowerment, and we’re always looking for ways for people to thrive and participate in the economy,” Sivan Whiteley, Square’s general counsel, told AdWeek.
“This is an industry that’s been underserved.”
Square started dipping its toe in CBD (which we recommend) earlier this year when it launched an invite-only beta tester for CBD merchants. Now that they’ve gone large, they’re offering their fancy program for 3.9% and 10 cent fee per in person sale, and 4.2% and 30 cents fee per online transaction.
Though cannabis products are relatively new in the legal online space, it’s interesting to note that weed was actually the first commodity ever purchased online, back in 1972. Interesting factoid, right? … No? Fuck you!