Kratom Restricted Merchant – Kratom Merchant Card Processing
Looking for high risk merchant card processing for your legal kratom sales business? Call us at 800-357-0001 for help finding a credit card processing account!
What is Kratom and is it a legal substance?
Mitragyna speciose (commonly called kratom), is a tropical/sub-tropical evergreen tree with a history of use mainly in Southeast Asia. Ingested as a tea or in capsule form, different accounts suggest that kratom has opioid-like properties as a pain-reliever but without the commensurate depression of respiration. Kratom contains the active alkaloids, mitragynine and 7-hydroxmitragynine, which may be categorized as bioactive agents that can be subject to abuse.
Due to regulations in a number of states and cities around the US, the sale of kratom is seen as a highrisk merchant business. The DEA announced its intent to temporarily place kratom into Schedule I on August 31, 2016, meaning the drug “currently has no accepted medical use and a high potential for abuse”, only to reverse its position six weeks later. For guidance purposes only, marijuana, currently legal in many states and actively sold to the public in several, is a Schedule I substance. And in February 2018, the United States Food & Drug Administration (FDA) issued warning letters to three companies selling kratom under claims that the substance could be used for opiate withdrawal and/or opioid addiction treatment. Currently six states in the US and a number of cities have classified kratom as an illegal substance.
Conversely, kratom has surging popularity as an alternative treatment for chronic pain, opioid withdrawal symptoms, digestive ailments and mood disorders. Some users report kratom is an effective treatment for arthritis, restless legs syndrome (RLS) and fibromyalgia. Industry sources such as the American Kratom Association are cited in general media estimating that there are between 3 million and 5 million regular users of kratom in the United States. Despite this seeming popularity and likely because of a conservative approach to the uncertainties surrounding kratom, Google does not allow ads for kratom on the Google Ad network.
If your business is selling kratom powder or capsules or promoting the sale of kratom, it is likely to be considered a high-risk merchant business by traditional banks or credit card processors.
How can MerchantWorthy.com help with your Kratom merchant processing needs?
Merchantworthy.com is a high-risk merchant card processing provider located in Florida. We have provided services to many businesses that fall into high risk industries or lines of business. While we do not provide merchant card services directly to companies that sell kratom, we have deep experience as a high risk card processor and may be able to steer your business to locating other sources for credit card processing.
In the case of kratom, we understand kratom is a substance that is described by advocates as having certain beneficial physiological benefits, though others, including the FDA, DEA and legal authorities in at least six US states, see it as an addictive narcotic and have classified it as a controlled substance.
Accordingly, while kratom is a legal substance in many parts of the U.S., it is still considered a high-risk business in terms of credit card processing.
High Risk Merchant Processing Experience
MerchantWorthy.com recognizes that finding credit card processing services for your kratom or other restricted merchant business can be a challenge. High risk merchants, including those in other nutraceutical sales and related lines of business, often face a number of obstacles they have to clear before they find the right merchant account. We believe businesses that sell kratom products typically face the same challenges and, like other high risk merchant processing businesses, we can usually point them in the right direction to overcome those credit card processing challenges.
If, for whatever reason, the merchant account for your kratom business has been terminated, rejected or denied by your current merchant account provider, MerchantWorthy.com may know of a solution for your restricted merchant credit card processing needs.
Call MerchantWorthy.com today at 800-357-0001 for a free consultation on how you may be able to find high risk merchant credit card processing services!