Nuvo Company offers payment processing services to businesses in various industries, including the hemp industry. They have an extensive, continuously-growing combined client base with over 4,000 merchants. Nuvo LLC offers merchant accounts for manufacturers, wholesalers, and retailers involved in CBD.
One of their biggest selling points is that they work with CBD businesses that have been declined by other payment processing service providers. Also, Nuvo’s services include providing a physical card terminal, a point of sale integration, and an online gateway to keep CBD businesses running. In short, Nuvo makes it possible for CBD businesses to seamlessly accept payments from customers in the form of credit or debit cards.
Before looking at Nuvo directly, here are a few points to keep in mind when considering doing business with any payment processor for your cannabis or hemp business.
CBD is a high-risk business with harsh regulations that keep changing. As a result, you need to find a vendor who is comfortable, confident, and competent enough to handle that. The best case scenario is you find one who is experienced in working with CBD e-commerce merchants, as they should be able to stay ahead of the industry’s ever-changing laws and procedures.
They also need to have a well-established network of legitimate financial service partners. This will enable a seamless flow of transactions without any costly downtime that may ruin your reputation and make you lose customers.
Finding a CBD payment processor with point-of-sale (POS) availability will help you save time on administrative duties. In the long run, this will help you reduce labor costs.
A POS will help you manage both online and offline transactions, and will provide you with business intelligence that helps increase customer loyalty and boost profitability.
Consider how hard or easy it is to integrate your e-commerce platform to the payment processing system. The cost of switching to a different platform can be very costly, so find a payment processing system that can easily integrate into different e-commerce platforms.
For this reason, payment processors that have API integration have many benefits. Other than easy integration, they allow the business owner to manage the business remotely and provide insight on how the platform appears from a customer’s perspective.
Ask yourself if you can afford to pay for all the fees that come along with the merchant account. Find out what percentage is deducted with each transaction, and note that credit cards usually have higher charges than debit cards. If this does not work well with your calculated profit margins then consider finding another vendor.
Also consider all the other charges that may be hidden such as monthly and yearly fees.
Nuvo Payment Processing Review
Nuvo Company has a Virtual Terminal that allows your customers to make online payments securely and reliably. They process over 9 million combined transactions a day and the increased efficiency brought about by their payment processing power helps their clients save money. The company also negotiates to receive the best possible rates for their clients.
- Excellent 24/7 customer support
- Reasonable fees
- Same-day underwriting
- Online reporting
- Loss prevention support
- Cannabis and hemp friendly, and all CBD product lines are approved
- Account approved within 24 hours
- Secure point of sale integration
- Affordable services
- Domestic processing
- Secure PCI-compliant network
- Credit and debit card processing
- Integrated payment solutions
Unfortunately, we couldn’t find any public customer reviews about this company, but Nuvo LLC is listed on the BBB (Better Business Bureau) website, which enhances their credibility. Overall, it appears that this is a reliable payment processor that is serving the hemp and cannabis industries well.