Australian Financial Services Licensing (AFSL) Forum

#6334 Reply

zoedon

I look after a vape shop website directory and we have had a posting from a vape shop in the United States that also sells CBD product lines. A Month later on, PayPal has written to use to claim that our account has been limited and have requested us to take away PayPal as a payment method from our vape store web directory. We do not offer for sale CBD products such as CBD oil. We merely offer online marketing professional services to CBD companies. I have had a look at Holland & Barrett– the UK’s Well known Health and wellness Retail store and if you take a good look, you will witness that they promote a reasonably extensive range of CBD products, primarily CBD oil and they also happen to take PayPal as a payment method. It emerges that PayPal is administering double standards to different companies. Due to this constraint, I can no longer accept PayPal on my CBD-related web site. This has constricted my payment choices and presently, I am intensely reliant on Cryptocurrency payments and straightforward bank transfers. I have consulted with a lawyer from a Magic Circle law office in The city of london and they explained that what PayPal is doing is totally against the law and inequitable as it ought to be applying a consistent benchmark to all companies. I am yet to speak to an additional lawyer from a US law office in The city of london to see what PayPal’s legal position is in the United States. Meanwhile, I would be extremely appreciative if anyone here at complianceforum.com.au could offer me with different payment processors/merchants that work with CBD companies.

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