Naturepay Overview

Naturepay May Have Overcharged You

If you accepted credit cards through Naturepay or any other credit card processing company between 2017 and 2019, recent changes to the law may entitle you to refunds of certain debit card and credit card processing errors and overcharges. See this post to find out if your were among the businesses affected and to learn how you can get your money back.

Cannabis Payment Processing

Founded in 2015, Naturepay is a merchant account provider that specializes in processing credit card payments for legal marijuana businesses. Unlike most cannabis merchant services providers, Naturepay specifically claims that it can process credit card and debit card payments through a conventional merchant account in partnership with multiple U.S.-based banks. This is a remarkable claim due to the fact that Visa, MasterCard, and most national banks have gone on the record stating that they will not allow their networks to be used for marijuana transactions. Naturepay not only advertises cannabis merchant accounts, but it also has point-of-sale and e-commerce solutions available and can place CBD and paraphernalia sellers as well.

Naturepay Location and Ownership

Jim Lange is the president of Naturepay, which is headquartered at 5614 Alora Loop, Anchorage, Alaska 99504. The company does not list its acquiring bank(s) on its website, likely to avoid regulatory scrutiny. There is some reason to believe that Naturepay may also operate under the name Weed Pay LLC.

Naturepay Review Table of Contents

  • Costs & Contract: Naturepay appears to offer a month-to-month contract with no early termination fee.
  • Complaints & Service: Naturepay has received fewer than 10 public complaints.
  • BBB Rating: Naturepay does not have a profile with the Better Business Bureau at this time.
  • Sales & Marketing: Naturepay does not appear to hire independent resellers and has not received any complaints related to its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Naturepay
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Products & Services Offered

  • Debit and credit card processing
  • Point-of-sale equipment
  • Online payment gateway
  • Gift and loyalty programs
  • ATM placement
  • Cash management and security

Types of Businesses Served

  • Recreational cannabis
  • Medical cannabis
  • CBD oil
  • Paraphernalia

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Naturepay Rates, Fees, and Costs

Key Points

Retail Rate 5.95% + $0.30
E-Commerce Rate 1.00% - 4.99%
Termination Fee $0
PCI Compliance Fee Variable
Equipment Lease Variable

Month-to-Month Contract

We are unable to locate a copy of the standard Naturepay contract at this time, but Naturepay advertises on its website that it charges retail merchants 5.95% plus $0.30 per transaction with no hidden fees, no reserves, no termination fee, no monthly fees, and a month to month contract. Setting aside the very high processing fee, these are remarkably competitive terms if they are accurately quoted. It is unclear how the company structures its merchant accounts or which banks it uses, and some social media posts by the company’s representatives suggest that it may require merchants to sign a non-disclosure agreement before working with them. This makes it very hard to determine the exact arrangement that Naturepay offers.

No Red Flags

Despite the mystery over how it provides its services, there are no negative reviews of Naturepay’s contract terms to be found on any consumer forums. Its rate of 5.95% plus $0.30 is high compared to the cheapest merchant accounts, but it is reasonable for the cannabis industry. Since we cannot find any merchant feedback that disputes the company’s advertised contract terms, we will assign the company an “A” rating for now.

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Response from Naturepay

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Naturepay Complaints & Customer Reviews

Key Points

Total Complaints <10
Live Customer Support No
Most Common Complaint N/A

Low Complaint Total

We are currently able to locate only 1 negative Naturepay review, and this review rather unfairly accuses the company of being a scam. According to the complaint, Naturepay simply didn’t get back in touch with the merchant after he submitted an application. The merchant seemed to interpret this as data theft. Although failing to reply to an application is unprofessional, it does not raise a red flag that Naturepay might be a criminal enterprise. It does, however, suggest that the company’s small staff may be overworked, or that Naturepay itself is struggling to keep operations running.

Naturepay Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Naturepay. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Naturepay Customer Support Options

There are no other complaints of this nature, so we are inclined to believe that this was an isolated incident. Naturepay offers a contact form on its website and does not show a dedicated phone number for customer support. This falls short of our expectations for top-rated customer service providers, but it’s not uncommon in the niche high risk payment processing market.

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Response from Naturepay

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Naturepay BBB Rating Summary

No Profile Available

The Better Business Bureau does not maintain a profile for Naturepay at this time. We therefore will not factor a BBB rating into this review.

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Truth In Marketing & Advertising

Key Points

Uses Independent Resellers No
Promotes Deceptive Rate Quotes No
Discloses All Important Terms No

Inside Sales Team

Naturepay appears to primarily market itself through conventional advertising and referral. The company maintains a small staff and does not seem to employ a large team of independently contracted sales agents. Naturepay’s marketing is strictly focused on marijuana and marijuana-adjacent businesses, which both restricts its overall merchant pool and makes it attractive to businesses in its target industry. This means that cannabis merchants are very likely to seek Naturepay out on their own as they search for a reliable merchant account provider.

Naturepay Rate Quotes

Naturepay’s marketing copy makes some bold claims. The ability to process payments through a domestic bank requires either a close relationship with a bank employee who is willing to look the other way or the intentional miscoding of a merchant’s business type. Both approaches are risky and unstable, so it’s rare to see a credit card processor openly advertise this service. Moreover, Naturepay openly lists a rate of 5.95% plus $0.30 per transaction for retail businesses, which is right around the amount that most industry experts say cannabis sellers should expect to pay. We have seen no complaints that suggest that Naturepay’s advertising is misleading, and we have no reason to lower its score in this section. If you suspect that the company has misrepresented its pricing, you can double-check your monthly bill with a third-party statement audit.

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Response from Naturepay

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Our Opinion of Naturepay

A Domestic Option for Marijuana Merchants

Naturepay rates as a reliable merchant account provider according to our rating criteria, but there are still very important unanswered questions about the service it offers. If the claims made on Naturepay’s website are accurate, then the company is one of the best and most reliable options for marijuana merchants that we have seen. However, we have found very little positive or negative merchant feedback that can shed light on the company’s products or services. Merchants who sell marijuana or marijuana-adjacent products should be sure to check with a wide range of high risk specialists to determine the best solution for their business.

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Thank you for reading my review. I hope that it has helped you with your research.

Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, 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 on this website.

How I Can Help You

I specialize in helping businesses get refunds of excessive fees and have recovered $1,567,184 this year alone! Submit a recent statement below to find out if you are getting overcharged. I'll take a look at it for free. If I find fees that can be refunded, hire me on contigency. I only get compensated if I put money back into your pocket.

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