Kratom Credit Card Processing Is Disappearing
Despite its surging popularity as an alternative treatment for chronic pain, opioid withdrawal, and mood disorders, kratom is facing increased regulation in the wake of a highly questionable FDA review. This development has made digital transactions incredibly difficult for kratom sellers and kratom consumers. Kratom merchants are unlikely to find domestic banks that are willing to take on kratom credit card processing, which means that they usually have to open offshore merchant accounts. To make matters more difficult, the kratom vendors who are lucky enough to find e-commerce kratom payment processing are usually unwilling to share their solution because they will lose their competitive advantage.
Does your merchant services company approve kratom sellers, or do you know one that does? Please tell us in the comment section below.
The Volatile Market of Kratom Payment Options
To open up kratom merchant services for everyone and help you find a payment option for your kratom business, we’ve created the following list of the best kratom merchant account providers. The providers on this list have proven track records in the high risk industry, specifically in the nutraceutical and e-commerce sectors. They also enjoy low complaint rates and provide live customer support to their merchants. In general, most sellers of kratom should be prepared for higher-than-average transaction rates due to the elevated risk associated with their industry, and they may also encounter rolling reserves or occasional fund holds. Please keep in mind that kratom processing is an ever-changing landscape at this time, and that banks may alter their acceptance policies suddenly and without forewarning. The credit card processors on this list were known to approve kratom merchant accounts at the time of this writing, which can change on a daily basis without any notification to us.
Best Merchant Accounts for Kratom Merchants
Top Rated for Kratom Merchant Services
PaymentCloud is our top recommended credit card processor for kratom businesses. This provider specializes in hard-to-approve business types and can currently supply kratom merchant accounts, Hemp merchant accounts, and even CBD merchant accounts. PaymentCloud is also one of the top rated merchant services providers in the credit card processing industry.
About PaymentCloud
Based in Woodland Hills, California, PaymentCloud is a merchant account provider that specializes in serving high risk business types. The company’s products and services include point-of-sale solutions, mobile phone swipers, an online payment gateway and virtual terminal, EMV-compatible terminals, and merchant cash advances. PaymentCloud is a good option for kratom suppliers.
PaymentCloud provides a dedicated account rep to all new merchants for the life of the account. The company has not received any negative complaints on consumer forums, and it customizes its pricing according to each merchant’s business type and processing history. The BBB does not maintain a profile for PaymentCloud at this time, but CPO gives the company an “A.”
Contact PaymentCloud
For more information, visit the PaymentCloud website or call (888) 506-7859.
eMerchantBroker.com is a Los Angeles, California-based company that offers high risk e-commerce processing solutions including kratom merchant accounts. The company’s products include ACH processing, an online payment gateway, merchant cash advance, and a chargeback management system to help merchants dispute and resolve chargeback claims. eMerchantBroker.com can provide an offshore merchant account for kratom sellers, and it can also serve online medical suppliers that do not sell illegal services, do not use continuity-based billing, are not based in India, maintain high processing volumes, and are properly licensed.
eMerchantBroker.com offers custom pricing for each merchant and maintains a low complaint rate relative to its size and merchant portfolio. Our review of eMerchantBroker gives the company an “A” rating overall and the BBB assigns the company a rating of “A+.”
For more information, see the eMerchantBroker website or call (877) 301-3442.
Host Merchant Services is a Newark, Delaware-based merchant account provider that is capable of serving most domestic high risk business types. The company’s products and services include point-of-sale solutions, online marketing tools, an online payment gateway and virtual terminal, mobile credit card processing, gift and loyalty programs, merchant cash advance, and offshore merchant accounts. Host Merchant Services specializes in e-commerce businesses and provides a free website and email address to new merchants who require them.
Host Merchant Services has received only positive feedback on public forums, with most reviewers singling out the company’s customer service for praise. Host offers interchange-plus pricing with no early termination fees to all of its merchants, meaning that users will enjoy the most transparent pricing model and can cancel service without penalty. The BBB gives Host an “A+” rating, and CPO also gives the company an “A+.”
For more information, visit the Host Merchant Services website or call (888) 591-9026.
Additional Options
Based in Portsmouth, New Hampshire, Instabill is a high risk merchant account provider that is able to place both domestic and international kratom suppliers. The company provides a payment gateway, a virtual terminal, an online shopping cart, support for over 160 currencies, and AVS. Instabill’s website advertises that it can provide offshore kratom merchant accounts for businesses that have been processing kratom payments for three to six months.
Instabill enjoys a very low complaint rate relative to its size, time in business, and merchant portfolio. The company offers customized pricing packages depending on each merchant’s business type and size. Our review of Instabill gives the company an “A,” and the BBB also gives Instabill an “A.”
