Online kratom-friendly payment processing is still frustrating, if not impossible, for start-ups and small websites – even those using bigger more established shopping carts. But what about bigger kratom websites that have recently been shut down by Stripe, PayPal, their bank, or are using alternative payment processing with ultra-high decline rates and crazy fees?
Kratom friendly payment processing – a high barrier to entry
Yes, there are reliable US-based credit card processors that offer traditional, affordable payment gateways and merchant accounts for kratom that integrate seamlessly with Shopify, WooCommerce, and BigCommerce- as long as your website already has some established success and you are willing to pay a premium.
For most small, new kratom sites this new option will not be of help, but for websites struggling with clunky alternative payments or those who have been shut down and had their money held by one of the big payment gateway providers, these new options can be a godsend. Albeit a somewhat pricey one.
Kratom payment gateway requirements
At a minimum, any website owner looking to accept credit cards for kratom must be a citizen or legal resident of the United States, own a US-based company, maintain inventory on-site, or have a fulfillment agreement with a US-based warehouse.
Beyond that, there are quite a few other restrictions – at least for the time being. Some of these US kratom payment processor requirements are:
- An established history showing at least $25,000 in monthly sales and the ability to process at least that amount through the new account.
- Geofencing required – this means that Kratom websites must add a Shopify, WooCommerce, or BigCommerce plug-in designed to prevent the purchase of kratom online where it is prohibited. We can help with this and be a liaison between you and underwriting.
- Kratom must be the only product on your site. This requirement is unique to kratom payment processing and can require you to split websites if there are other popular products you would like to offer. We can assist with payment processing for your other products as well.
- 10% reserve – this means the processor will withhold 10% of your sales deposits for a period of time in order to protect themselves from losses caused by chargebacks or other risk areas.
Truth: Kratom payment processing is usually more expensive
Even the stable, Authorize.Net or NMI-based kratom credit card processing that we are now able to offer comes at a higher cost than most other high-risk processing – like supplements or CBD. The monthly fees for kratom payment gateways are over $150.00 and the fees per sale can be more than double what other industries pay. But, for most online businesses, paying more is far better than using unreliable solutions or not accepting credit cards at all.
We can help your established kratom website accept credit cards
Please call 1-800-570-1347 with any questions or to get started please complete the form below.