Hemp Businesses Face Payment Crisis as Major Processors Exit Market

Square has given hemp and CBD businesses until a final deadline to remove all products from their platforms, mirroring challenges that cannabis operators have faced for years. Payment processor exits create severe operational disruptions, leaving businesses without payroll services and creating significant employer liability. The CBD and hemp industry, despite federal legality under the 2018 Farm Bill, continues to struggle with banking and payment infrastructure access. This regulatory uncertainty threatens legitimate hemp businesses and their employees across the country. The crisis highlights the ongoing need for comprehensive financial services solutions for federally legal cannabis and hemp enterprises.