Kratom has emerged as an effective medicine for various health issues in recent times. Be it opioid withdrawal, anxiety, and stress, or pain relief, Kratom helps with everything. However, its reputation has seen a considerable downfall too. Because several organizations term it as harmful and addictive, the trust factor suffers. That leads to sweeping issues with Kratom payment processing.
This article will closely examine all the problems that merchants and consumers can face in the payment process. To get to the roots of the issue, we will try to present before you the reasons why payment issues occur in the first place. That means we will also cover the health concerns and legal aspects of Kratom. People are quick in terms of finding alternatives for everything. So is the case with the payment process of Kratom. We will hence see what options have come out to solve this particular problem. By the end, you will figure out if it can be a risky affair for you to purchase and pay for Kratom online.
What problems occur during the payment processing of Kratom?
Domestic banks do not trust the whole Kratom situation because of the risk factor. It is a regulated or controlled substance in many regions. It has been used as a medicine traditionally for years. Still, questions have started arising on how safe it is. The cherry on top is put by organizations like FDA, DEA, etc. Many such government bodies have declared it as a dangerous and addictive substance. Moreover, it has been termed as an opioid by some authorities.
Now, banks would not want to entertain something so controversial. Hence, local and reputed banks are not in favor of Kratom merchants processing payments on their platforms. These merchants fall under the high-risk category, which leads them to get rejected by the banks. High-risk suppliers belong to industries where fraud, chargebacks, controlled substances, and regulated products come. In the case of Kratom, the high-risk mark comes because Kratom is a regulated or controlled substance. Due to the strong opposition from influential organizations, the legality remains uncertain in several regions.
Due to all of these setbacks, merchants struggle with sending and receiving payments for their Kratom businesses. They find it challenging to find a processor for their credit cards. Now that we know the payment processing problems in depth let us move forward. We will try to trace all the possible reasons why these issues creep in. We are going to cover both the legal and medical facets of Kratom that work against it.
What makes Kratom payment processing complicated?
Whenever we come across news about any product being dangerous, we naturally form a fear or opinion. With Kratom, there are contrasting opinions among the masses. Some say that it is just an effort of pharmaceutical giants to protect their businesses. On the contrary, some people believe that the concerns are justified.
Many people who want to steer clear of the side effects of painkillers use Kratom as a pain-relief option. Furthermore, a lot of people have also found it a safer option for addictive medicines. If we believe the studies, it is the safest way to fight withdrawal symptoms faced due to addiction to opioids.
Having said all that, it is not like Kratom is a completely safe product. Any type of medicine can be dangerous at any point. But, that point comes after you exceed a particular limit of consumption. It serves you all the attractive benefits as long as you use it as a medicine. Kratom can be harmful if consumed in extremely high doses and a reckless manner. However, claims of it being an opioid and causing addiction are false. There is no solid piece of evidence that proves those claims. Instead, as mentioned earlier, Kratom helps fight opioid dependency and withdrawals. All these arguments strongly suggest that pharmaceutical companies see it as a threat. That is why we can say that there is some misuse of influence and power in this matter. Ultimately, all this leads to blurry legality, which in turn affects the Kratom payment processing.
Speaking of legality, it is paramount to know who influences its legal status and how!
What do FDA, DEA, and NIDA say about Kratom?
The National Institute of Drug Abuse comments that the side effects of Kratom include dependence and life-threatening. Besides, the DEA (Drug Enforcement Administration) has stated that Kratom leads to hallucinations, seizures, and even death. However, there is something here that is worth noting down. These extreme cases came as a result of consuming other drugs and medications along with Kratom.
There are many such numbers and statistics put out there. But when we come to proofs, there are no strong ones. At the same time, evidence to prove that Kratom is wholly safe also doesn’t exist. Both wings in this debate rely only on anecdotal evidence and speculations. No substantial studies have been conducted about it so far due to the controversial nature of Kratom.
Even so, these health worries lead to governments taking steps to control the manufacturing and consumption of this product. Hence, the legal status of Kratom is not that sturdy for the most part. Banks thus do not want to get into something so controversial and seemingly unsafe. That makes them turn down the merchants looking for a processor for their Kratom business-related money exchanges.
Finally, what’s the solution?
Credit card processing has become extremely tough and even impossible in some cases. Experts have found ways to smoothen this bumpy ride for merchants. Many companies have come up with options like e-Checks and newer credit card processing options. The best way to minimize the risk factor is to analyze all the pros and cons.
Also, it is crucial to confirm the legality and rules related to Kratom in your country first. If you can find a legal way to process your payments, that’s a win. But, if your country’s government has made Kratom illegal, you might want to be careful. Even if you have payment processing options available, the better choice would be not to take a risk.
You can always look for authorized shops and merchants offline, which is a safer choice. Online payments through any means can be risky in the long run if Kratom is illegal in your region.