Have you ever wondered how a secure High-risk payment processor can change the game when it comes to CBD & Kratom sales? At WAAVE we facilitate payments for merchants who adhere to high compliance standards. High-risk merchants are not eligible for traditional payment processing because their products are illegal in some regions, making WAAVE unique in the market.
Both CBD and Kratom are regarded as a “high risk” sector, owing to their uncertain legal position. Age-restricted purchases, severely regulated commodities, sectors with higher-than-normal chargeback rates, and other factors that might pose a danger.
Some credit card processors refuse to give merchant accounts for Kratom or CBD because they are not legal in many countries. And those who are given merchant accounts can anticipate a more extended approval procedure and prices reflecting Kratom’s high-risk processing status.
So, if legality is a concern for you, this article will make things a bit clearer.
When discussing substances such as Kratom & CBD, one of the main questions is whether it is legal for them to buy or sell the product. This depends on several factors, so here’s a brief explanation of the main things to keep in mind.
IS KRATOM LEGAL?
The legality of kratom differs from country to country, and state to state. Countries like Poland, Germany, and New Zealand have declared it a controlled substance. Others like Australia, Myanmar, and Thailand have made it outright illegal. Be sure to check the legal status of kratom in your country, region, and city, as it may differ from jurisdiction to jurisdiction.
When it comes to the United States, kratom’s legal status is constantly under threat. Its close relation to opioids has drawn criticism from US lawmakers. In 2016, the US Drug Enforcement Agency (DEA) made its first attempt to ban kratom from the country. In 2017, the US Food and Drug Administration (FDA) recommended that kratom be classed as a Schedule I drug alongside other opioid narcotics. Following public outcry, the DEA and FDA have chosen not to act on these recommendations, meaning that kratom is still legal at the federal level.
Numerous states have taken the initiative to ban kratom locally. States like Alabama, Indiana, and Tennessee, among others, have opted to make kratom illegal. Certain American cities, including Denver, San Diego, and Sarasota, have also decided to make kratom illegal within their jurisdiction.
IS CBD LEGAL?
The legality of CBD will also differ depending on the jurisdiction. The federal legalization of hemp in the United States has made CBD a gray area. In theory, if CBD products contain less than 0.3% THC, they should be legal. However, different jurisdictions may have different rules on the legality of CBD.
You should always check the laws in your home state before making a decision to sell CBD—to be on the safe side.
When it comes to Europe, CBD is legal assuming it's derived from hemp and contains less than 0.02% THC. Countries like the UK, Italy, Austria, Belgium, and Romania are just a few where CBD is legal to buy and use.
WRAPPING IT UP
Both CBD and Kratom are in an unregulated marketplace, however, as the legalization of medical and recreational marijuana continues to spread, this may not continue to be the case.
If you’re looking for a high-compliance payment processor online and in-store to help you process credit cards everywhere you sell, then WAAVE is the right choice for you.
We’re the #1 payment enabler for Kratom sites with CBD and Delta products.
Safe, simple, and secure.
Learn more about our solutions