Canna Group Payment Solutions Review

Canna Group Payment Solutions Overview

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High Risk Specialists

Also known as “Canna Group LLC” and “Canna Group Payment Processing”, Canna Group Payment Solutions (gethighriskprocessing.com) is a merchant account provider that primarily serves high risk merchant sectors. 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 for kratom, nutraceuticals, travel, multi-level marketing (MLM), credit repair, tobacco, adult, firearms, collections, penny auctions, and more.

Canna Group Payment Solutions Location and 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 of Canna Group Payment Solutions and appears to be a former partner at Trinity Payment Solutions (trinitypaymentsolutions.com) 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 has received fewer than 10 public complaints.
  • BBB Rating: Canna Group Payment Solutions currently has an “A-” rating with the Better Business Bureau and has received zero complaints since its profile was created.
  • Sales & Marketing: Canna Group Payment Solutions hires independent sales agents but has not received any complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Canna Group Payment Solutions

Canna Group Payment Solutions Statement Analyzer

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Products & Services Offered

Types of Businesses Served

  • Retail
  • E-commerce
  • High risk
  • CBD
  • Marijuana

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Canna Group Payment Solutions Rates, Fees, and Costs

Key Points

Swiped Rate 1.00% - 4.99%+
Keyed-In Rate 1.00% - 4.99%+
Early Termination Fee Variable
PCI Compliance Fee Variable
Equipment Lease Terms Variable

Variable Contract Terms

Canna Group Payment Solutions does not disclose most of its pricing to the public, and there are no complaints that mention specific rates or fees charged by the company. As a high risk payment processor, it’s likely that the company’s 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 their pricing 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 contract.

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Canna Group Payment Solutions Complaints & Customer Reviews

Key Points

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.

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 Support Options

Canna Group Payment Solutions provides a general phone number on its website but does not list any dedicated customer support contact information. This falls short of the minimum level of service that we expect from top-rated payment processors for great customer service.

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Response from Canna Group Payment Solutions

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Canna Group Payment Solutions BBB Rating Summary

Key Points - BBB

Product & Service Complaints 0
Billing & Collection Complaints 0
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Clean Complaint Record

Canna Group Payment Solutions currently has an “A-” rating from the Better Business Bureau and has been BBB accredited since April 2019. The company has not received any complaints since its profile was created in January 2019. It also has not received any informal reviews to its BBB profile.

An “A” Performance

The BBB has slightly lowered the company’s rating because due to the short amount of time that Canna Group has been operating. 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.

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Response from Canna Group Payment Solutions

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers Yes
Advertises Deceptive Rates Yes
Discloses All Important Terms No

Inside/Outside Team

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 complaints that mention deceptive conduct or misrepresented 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.

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Response from Canna Group Payment Solutions

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Canna Group Payment Solutions Marketing Example

Canna Group Logo

Our Opinion of Canna Group Payment Solutions

A Solid Option for High Risk Merchants

Canna Group Payment Solutions rates as a reliable merchant services provider according to our rating criteria. The company enjoys a clean complaint record and is able to serve both standard and high risk merchants. However, merchants should be aware that we have not found detailed information about the company’s pricing and fees. We will continue to monitor the company and update this review as needed. For now, merchants should be sure to compare Canna Group’s pricing to that offered by other top-rated high risk payment processors.

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Why I'm Qualified to Write About Credit Card Processing

I'm a former credit card processing sales director who left the industry to start my own a small business. From the time that I starting working in the merchant services industry to when I left to write about it, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this insider knowledge to myself, so built this website to help small business owners research which service providers to use and how to save money on rates and fees. I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers here. I can help you save money with your current merchant account or help you find a new one. Message me here to get started.

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