Performance Card Service (PCS) is deeply experienced in helping kratom merchants develop payment processing solutions for their high risk businesses. Because of our understanding of the complex processing hazards of this industry, we help you avoid problems and handle payments in a way that allows you to meet customer needs and keep your business moving forward.
Kratom Merchant Account
Secure Payment Processing Solutions for Kratom Merchants
Why Kratom Is High Risk for Payment Processing
Mitragyna Speciosa, or kratom as it’s commonly called, is a species of tropical tree in the coffee family native to Southeast Asia. This multipurpose plant has been used in traditional medicine in Thailand for thousands of years. Although kratom is not recognized by the U.S. Food and Drug Administration (FDA) as a legitimate medicine, one can’t deny its litany of uses. Many people use kratom as a way to manage chronic pain since it behaves similarly to an opioid. Others have found it useful to ameliorate withdrawal symptoms from opioid dependence. In Thailand, kratom is traditionally chewed in the raw leaf form, similar to the way some Peruvian or Colombian workers chew the coca leaf. It can help exhaustion after a long workday and can also be used as a general stimulant and painkiller. Other practices include using kratom as an herbal remedy for conditions from insomnia to anxiety, and as a treatment for diarrhea or premature ejaculation during sex. As with many strong herbal remedies, kratom does have some minor side effects. These include flushing, itching, nausea, vomiting and constipation. Even small doses of kratom may cause extreme nausea so users find out very quickly to respect the plant and never overindulge. Therefore, Kratom should always be taken by an educated adult and never used recklessly.
Unfortunately, like many other things in the U.S., kratom is associated with fake or herbal blended remedies that are very dangerous. The Internet has given the public wide access to this amazing and versatile plant, causing some to fear that this overexposure will usher in an era of prohibition. This has also caused the card associations to move toward prohibiting merchant service providers from supporting businesses that sell the plant. As it stands today, most banks and processors will not allow businesses that have successfully and safely offered kratom for research purposes to continue selling it. This has put many business owners in a very hard position as they are forced to choose to continue their livelihoods without support from banks and processors or shutter their businesses totally. Regrettably, the number of unethical people who prey on these businesses has increased. These individuals approach the business owner with claims that they can set up a kratom merchant account and process credit cards on their behalf. The industry has certainly taken an unfortunate turn for this plant that has been respectfully used by adults for thousands of years.
PCS Offers Kratom Payment Processing Solutions, Including Credit Cards
Are you a purveyor of kratom? We may be able to assist you. In the majority of states where kratom is still legal, we continue to assist businesses with processing options for their customers. We know and understand the strife associated with this industry and will advise you on how to move forward with a successful business again. If you are new to the kratom industry, we are always available to put you on the right path and give you insight into how others have succeeded.
Our safest and primary solutions for kratom merchants are ACH and eCheck processing. If you have had issues with check processing in the past, we guide you through the pros and cons of this payment form. Since we utilize several different check processors, we often secure a provider for your business that you have not used in the past and that offers better terms. We understand check processing is not as popular with customers as credit cards, but processing credit cards comes with inherent risks. Over the years we have seen dozens of kratom merchants lose money to poorly managed credit card processors that claim they support kratom, only to have their banks freeze funds and impose fines.
With these risks in mind, we have partnered with credit card processors that openly support kratom by using banks outside the U.S. We understand these risks and will walk you through all terms and risk factors to ensure you make the most informed decision before signing up for an account.