Australian Financial Services Licensing (AFSL) Forum

#6291 Reply

zoedon

I look after a vape store directory and we have had a listing from a vape shop in the United States that additionally advertises CBD items. A Calendar month later, PayPal has written to use to claim that our account has been restricted and have asked us to take out PayPal as a payment method from our vape shop website directory. We do not retail CBD products such as CBD oil. We solely offer web marketing services to CBD firms. I have checked out Holland & Barrett– the UK’s Major Wellness Merchant and if you take a close peek, you will see that they supply a reasonably extensive variety of CBD items, primarily CBD oil and they also happen to accept PayPal as a payment solution. It emerges that PayPal is employing double standards to many different firms. Due to this stipulation, I can no longer take PayPal on my CBD-related web site. This has limited my payment possibilities and presently, I am intensely contingent on Cryptocurrency payments and straightforward bank transfers. I have spoken to a lawyer from a Magic Circle law firm in London and they said that what PayPal is doing is definitely against the law and inequitable as it ought to be applying an uniform standard to all firms. I am still to get in touch with an additional attorney from a US law firm in London to see what PayPal’s legal position is in the USA. In the meantime, I would be extremely appreciative if anyone here at complianceforum.com.au could provide me with substitute payment processors/merchants that work with CBD companies.

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