Agree with our rating?
Leave a comment below
Canna Group Payment Solutions Review: Fees, Complaints & Lawsuits
Agree with our rating?
Canna Group Payment Solutions Payment Processing
Canna Group Payment Solutions processes all major debit and credit cards for high-risk businesses. The company was launched in December 2015 and incorporated in March with a focus on CBD merchant accounts and marijuana payment processing. However, Canna Group also offers credit card processing businesses selling kratom, nutraceuticals, travel, multi-level marketing (MLM), credit repair, tobacco, adult entertainment, firearms, collections, penny auctions, and more. In 2022, Canna Group announced that they would extend their services to merchants selling psilocybin, kratom, THC Seed, hemp, and other like products. They advertise cash advances and chargeback protection as payment processing services they offer.
Canna Group Payment Solutions Location & Ownership
Canna Group Payment Solutions is headquartered at 2692 Jordan Rd, Columbus, Ohio 43231, and does not list its acquiring bank. Sami Spiezio is the CEO, president and founder of Canna Group Payment Solutions and appears to be a former partner at Trinity Payment Solutions and the former vice president of sales development at Netcom PaySystem.
Canna Group Payment Solutions Review Table of Contents
- Costs & Contract: Canna Group Payment Solutions offers variable contract terms according to each business’s type and processing history.
- Complaints & Service: Canna Group Payment Solutions complaints number fewer than 10 on public complaints forums.
- BBB Rating: Canna Group Payment Solutions currently has an “A+” rating Bureau and has received 0 complaints in the last 3 years.
- Sales & Marketing: Canna Group Payment Solutions hires independent sales agents but has not received any complaints about its sales practices.
Canna Group Payment Solutions Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||No|
|Most Common Complaint||N/A|
No Public Complaints
We are unable to locate any negative Canna Group Payment Solutions reviews, which is a good sign that the company isn’t a ripoff or a scam. Canna Group Payment Solutions has only been active for a short period of time, so it may accumulate reviews as it continues to grow. For now, we will interpret its lack of merchant complaints as evidence that the company is operating ethically. If you have your own Canna Group review to make, please do so in the comments below.
Canna Group Payment Solutions Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against Canna Group Payment Solutions. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Canna Group Payment Solutions Customer Service Options
Canna Group Payment Solutions provides a general phone number and an email on its website but does not list any dedicated customer support contact information.
We have located a single Canna Group Payment Solutions customer service number:
(614) 400-5909 – General Service
Canna Group Payment Solutions also offers an email address at [email protected].
This falls short of the minimum level of service that we expect from top-rated payment processors for great customer service.
Canna Group Payment Solutions Online Ratings
Here's How They Rate Online
Clean Complaint Record
Canna Group Payment Solutions currently has an “A” rating from the Better Business Bureau. The company has received 0 complaints in the last 3 years. It also has not received any informal reviews on its BBB profile.
An “A” Performance
Given the fact that the BBB’s profile for Canna Group has not received any complaints, we agree with the BBB’s rating. Merchants should be aware that there are still good reasons to be skeptical of the BBB’s rating system.
Canna Group Payment Solutions Fees, Rates & Costs
A Closer Look at The Contract
|Swiped Rate||1.00% - 4.99%+|
|Keyed-In Rate||1.00% - 4.99%+|
|Early Termination Fee||Undisclosed|
|PCI Compliance Fee||Undisclosed|
|Equipment Lease Terms||Undisclosed|
Variable Contract Terms
Canna Group Payment Solutions does not disclose most of its pricing to the public, and there are no Canna Group complaints that mention specific rates or fees charged by the company. As a high-risk payment processor, it’s likely that the Canna Group contract terms and pricing will vary dramatically depending on each merchant’s business type, location, and processing history. Canna Group Payment Solutions offers its agents an 80% commission on equipment sales, so it’s possible that agents can set their own pricing for long-term equipment leases. Merchants are advised to purchase their own equipment whenever possible to avoid getting locked into long-term, non-cancellable equipment leases.
High Risk Means High Fees
High-risk merchants who sign up with Canna Group Payment Solutions should expect to pay higher-than-average fees, and they may also be subject to cash reserves on their accounts. This is standard practice within the industry due to the elevated risk of chargebacks that many high-risk merchants pose. High-risk merchants can reduce their risk of fund-holds and chargebacks by being open and transparent with Canna Group Payment Solutions about their business type and product lineup from the start.
No Red Flags
We cannot find any Canna Group Payment Solutions complaints related to the company’s pricing, and there’s no reason to believe that the company’s merchants are dissatisfied with the Canna Group rates at this time. It is possible that Canna Group Payment Solutions offers a wide range of potential contract types, so merchants should understand how to spot undesirable terms in their contracts. While Canna Group Payment Solutions may have higher fees than our best merchant accounts providers, they still compare favorably to our top providers because they process for high-risk businesses.
Canna Group Payment Solutions Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||Yes|
|Discloses All Important Terms||No|
Canna Group primarily relies on independently contracted sales agents across the country to market its services. Independent sales agents are commonly linked to elevated complaint rates, but we have not found any Canna Group sales reviews that mention deceptive conduct or misrepresented Canna Group fees. We will therefore assume for the time being that the company’s sales team does not engage in unethical activity.
Canna Group Sales Commissions
Canna Group makes its agent agreement available on its website. This agreement outlines the standard commissions that the company pays to its sales agents:
Standard Commission is equal to 50% of the excess between the Buy Rates stated below and VENDOR’s collected fees generated from Referred Merchants derived from ISO.
Cash Advance Commission is equal to 50% of the funded amount and isn’t paid until company is funded by vendor.
Equipment Commission is equal to 80% of the net profits
Set up/Reprogramming Commission is equal to 50% of the amount collected
Merchants should bear these commission splits in mind when negotiating with any agent.
Canna Group Rate Quotes
The Canna Group Payment Solutions currently advertises “High Risk Rates as Low as 2.99%” for non-CBD or marijuana businesses. It is likely that this quote is only the company’s qualified rate, while Canna Group makes no mention of the higher mid-qualified and non-qualified rates that may be charged. However, given the fact that we have not found any allegations of misleading rate quotes, it appears that the company is generally straightforward about the rest of its rates. If you suspect that a Canna Group Payment Solutions sales agent has misled you about your rates, you can double-check your monthly bill with a third-party statement audit. We also encourage merchants to compare Canna Group Payment Solutions to our best credit card processors.
Copyright © 2023 CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.
Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice. We may earn revenue if you obtain services from a provider that we recommend. See this page to learn how we support our operations.