US Hemp Authority also heard that Stripe would no longer work with it
Thrive Market, an online natural and organic products marketplace, said it is shelving its catalog of hemp extracts and topicals at the demand of the company that processes its customer payments.
The e-commerce platform received notice from its merchant processor “demanding that we cease the sale of all hemp and CBD products,” Nick Green, Thrive’s chief executive, wrote in a blog post and email to customers. “We unfortunately have no choice but to comply, and we’ll begin removing our assortment as early as Thursday, June 20.”
The merchant processor was not named, and Green was unavailable for further comment. Thrive has been selling the products for more than 18 months.
Thrive is not alone. Earlier this month, third-party payment processor Stripe dropped the US Hemp Authority, a nonprofit organization developing a certification program and label for hemp, as a client because it thought it was too much of a liability, CNN Business has learned.
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