TruHarbor: Your Business Is Your Own
Cannabis is slowly gaining more and more traction as it is decriminalized and, most recently, legalized. This does not mean that the hemp and CBD industry are suddenly in the clear. In 2018, in spite of federal legalizations, CBD companies are struggling with banks to obtain financial services, bank accounts, and merchant accounts. This greatly inhibits these companies from expanding their businesses and creating loyal customer bases. A large part of it is confusion on the part of banks as to whether CBD is still a controlled substance or not. This leaves many businesses, big and small, no choice but to lie on their applications for financial services or dip into their savings to keep their businesses afloat.
The unique thing about TruHarbor is the fact that we use end-to-end encryption to ensure that your information stays safe and secure. If you’re unfamiliar, here is what it is in a nutshell: Many messaging systems, such as chat networks and email, allow for information to be handed over to and stored by a third party. The information is then decoded before being passed on to the receiver. Payment processors operate in a similar fashion. Even if this information is protected or encrypted, the third party still has full access to it. This puts you at risk for hacking, privacy violation and, generally, your information falling into the wrong hands. With end-to-end encryption, the third party doesn’t have the means to decipher the information. This means that only the receiver can read what has been sent. This helps protect businesses and cardholders against fraud.
There is still a substantial stigma against purchasing and selling CBD products. Many people and industries confuse CBD for marijuana. CBD derived from hemp does not make you high and can act as a healing product for many conditions. CBD products, particularly oils, have been known to help with epilepsy, bone growth and combatting anxiety. There are also many concerns about the purity of the product and how it is regulated. With research on CBD being an on-going process, the stigma surrounding these products has not entirely vanished. However, with end-to-end encryption, your information stays between you and the seller. We want to ensure that your privacy is respected and that any business that you do with us is yours alone and no one else’s.
The CBD and hemp industries are still considered high risk, in spite of their growing market value. This makes investors easy targets for fraud and puts CBD business owners in the difficult position of not being able to find reliable processors for their business. With TruHarbor, not only do we provide you with a safe medium through which to access and process your funds, but we offer it at a low cost. If your customers know that their personal information is in good hands, then you can improve their overall experience while building an amazing reputation for your business.