Month-to-Month Contract
Although a copy of the standard Naturepay contract is not readily available, the company promotes on its website a rate of 5.95% plus $0.30 per transaction for retail merchants. This pricing plan includes the absence of hidden fees, reserves, termination fees, and monthly fees, along with the flexibility of a month-to-month contract. While the processing rate may appear elevated, these terms, if accurately represented, are notably favorable. The specifics of how Naturepay arranges its merchant accounts or the financial institutions it partners with remain undisclosed. Notably, some statements from the company’s representatives hint at the possible requirement for merchants to agree to a non-disclosure agreement prior to engagement, complicating the ability to fully understand Naturepay’s service framework.
No Red Flags
In the absence of any negative commentary regarding Naturepay’s contract conditions across consumer platforms, the service’s transparency about its pricing, especially in the context of the cannabis industry, is noteworthy. The rate of 5.95% plus $0.30, while higher than some of the most competitive merchant account providers, aligns with industry norms for high-risk markets. Given the lack of disputing client feedback regarding the advertised contract terms, Naturepay is awarded an “A” rating under the current assessment.
Business owners are recommended to explore our list of the top merchant services for more options.
