These “odd sisters” peripherally related to the cannabis industry have singular considerations for compliant, transparent, stable business checking account and merchant processing.
Sales are prohibited with two exceptions: by prescription, and through a legal “carve-out” which allows it to be sold for research purposes. It is with this legal loophole that peptides are offered online to the general public.
Depository bank and MC/Visa acquirers are generally resistant to accommodate this market sector due to reputational risk. However, another risk is that merchants in this space are notorious for also offering prohibited substances, such as steroids, and other shady business practices. This puts their financial vendors at risk for complicity.
FINCANN offers competitive pricing and stable banking and merchant processing for this sector only when bundled with diligent, ongoing monitoring of these customers’ websites and operations, with a zero tolerance policy for offensive, prohibited and shady practices.
Is a controversial plant-derived mild opiate drug that the DEA nearly categorized as a Schedule 1 controlled substance in 2016, halted only a grassroots outcry. It is currently legal for sale throughout the U.S., except in Indiana, Tennessee, Vermont and Wisconsin.
Its pharmaceutical effect is as a mild pain reliever and slight stimulant. The plant has a history of a handful of fatal overdoses, especially when used in combination with other substances. It has been touted as a “miracle cure” for heroin and opioid addition, but the FDA warns there is no reliable evidence to support that.
All this leads to anywhere from substantial reputational resistance to an outright ban by financial institutions to provide either depository or merchant services to this market sector.
FINCANN has cost-effective and stable merchant processing programs available to vetted kratom merchants who can pass rigorous background and KYC (Know Your Customer) background investigations of beneficial owners and principal operators. Kratom merchants must also demonstrate ethical and transparent business practices.
Both sterilized and fertile, are probably in the most confusing and unsettled legal landscape of all related commodities and market sectors.
Legal in most European countries and now Canada, the legality of their purchase by and sale to U.S. consumers is subject to a patchwork of conflicting regulations across numerous jurisdictions.
Suffice it to say that FINCANN often has reasonably stable processing solutions for merchants in this sector, as often as not requiring engagement with offshore financial institutions.
Cannabis seed merchants are invited to check with us for the latest solutions available.