Solvent is proud to announce our payment partnership with Charleston Hemp Company–a South Carolina based, 40-acre hemp grow.
Charleston Hemp Company was one of the thousands of businesses affected by the Elavon shutdown earlier this year, effectively halting all credit card processing in their stores and online. Any customer that came in without cash was told to head to an ATM if they wanted to make a purchase, and e-commerce was virtually non-existent for the business. Ongoing for months before Solvent got introduced to the Bulick family behind the expansive hemp operation. After several conversations, our team felt compelled to get them back online. And nearly one month later, Charleston Hemp Company is processing again thanks to Ventus–Solvent’s compliant payments platform.
Ventus’ payments technology holistically integrates into any point-of-sale, processor, or gateway to perform transaction monitoring. It detects anomalies that are analyzed by compliance officers to ensure no money laundering, evasion, or fraud happens before the transaction is processed. It seems overkill for a substance that has <.03% THC making it non-psychedelic, but until FDA regulation is handed down, businesses like Charleston Hemp Company are forced to comply.
As this country approaches the first anniversary of the 2018 Farm Bill passing, stories like these continue to be the reason that Solvent perseveres. We are on a mission to increase access to compliant payments for honest cannabis businesses all over this country. If you or someone you know is without processing, please reach out to us, we are here to help.