News from the Wire

Frontline recruiting agents for CBD merchant acquiring program

Wednesday, August 21, 2019 — 13:12:14 (EDT)

Bozeman, Mont., Aug. 21, 2019 -- The CBD market is anticipated to reach $20 billion by 2020 in the United States. Opening up one of the most abundant opportunities the card processing industry has seen for over a decade. Which is why Frontline has invested significant resources in the industrial hemp industry by joining trade groups, meeting with government officials, keeping informed on best practices and participating in a US-based CBD Merchant Account Pilot Program, with a US-based Acquiring Sponsor Bank. The pilot program started in the beginning of 2019 and hit its capacity soon after it launched. We anticipate that we will begin boarding new CBD merchant accounts very soon based on the feedback we are getting. Agent Requirements: • Agents must be in good standing with the card brands, and the principle must pass all background checks. • Complete the enrollment process and be trained in the application submission process and our online agent portal in order to submit and manage their merchant accounts. • Submit a mixture of different merchant types before being able to participate in the CBD Merchant Account Program to be proficient on our system and avoid a concentration of CBD accounts. Timing: Although it is solely up to the sponsor bank to determine when they will start accepting new CBD Merchant Accounts we are under the impression that it could happen anytime. Which is why it is essential, that if you are interested in participating in our CBD Merchant Acquiring Program, you act now by requesting an agent enrollment package. To request an enrollment package please email apps@frontlineprocessing.com.

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Source: Company press release.