Requirements to Open a Merchant Account for Kratom Business 

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Most eCommerce businesses resort to merchant accounts to facilitate communications and quick payments for efficient financial transactions. These accounts are mostly bank accounts linked to business payments and transactions. The accounts come in handy, especially when receiving and processing electronic payments made via debit or credit cards.  

Obtaining a merchant account for something you sell online is not a big deal. But it gets much more complicated if the item you want to sell has legal restrictions. Common items in this category are mostly Kratom and a few cannabis products. For instance, any individual seeking to obtain a merchant account for Kratom has a lot of requirements to meet. 



Kratom Merchant Account Requirements 

Kratom trees fall in the same category as most hemp products due to their psychoactive effects. All the three main types of Kratom strains— Red, White, and Green, possess an alkaloid, Mitragynine, which makes them quite useful. 

These alkaloids wield positive therapeutic effects when consumed in fewer quantities. Some of its other known properties include; 

  • Elevates mood 
  • Alleviates anxiety 
  • Pain relief 
  • Helps in opioid withdrawal 

Commercial Kratom vendors sell it as powder or capsules. However, running a successful Kratom business without a kratom merchant account is next to impossible. For example, it won’t be possible to receive card payments from the regions where it’s greylisted.  

A merchant account for the Kratom business can also be a tricky subject to work on. Not only do you need clinical approval for the product, but you should also know more about kratom payment processing and how it works.  

Aside from knowledge of Kratom payment processing, it would help if you had the following before obtaining a reliable merchant account for your Kratom business. 


  • A Business Bank Account 

Any Kratom vendor requires a valid bank account for their application to go through. A business bank account allows you to receive your payments through the merchant account whenever a customer makes a transaction. 

However, note that some banks will decline linking personal accounts to merchant business accounts. These are especially financial institutions with strict codes of conduct against transactions involving illegal products or gambling activities.  

If you encounter problems with your local banks, consider opening an offshore account. The account is not subject to the same rules as domestic providers. However, be ready to pay more fees for an offshore merchant account. 

  • Valid Documentation 

Like opening a regular bank account, there is also necessary documentation for a secure Kratom business account. These may vary depending on the bank you’re dealing with. Even so, documents such as bank statements and valid business documents are a must. 

Your Kratom business merchant account underwriters will review and file copies of your documents to validate your business standing. Other popular documents you may need include; 

  • Billing policy 
  • Shipping procedures 
  • Refund and exchange policies 



  • Good Credit Score 

While you may not be applying for a loan or financial assistance, good banking history and a positive credit score are all essential when opening a merchant account for your Kratom business. 

So, take care of your bank history and personal credit data before embarking on this journey. That is, ensure you don’t have any bad banking history, such as bankruptcies or loan defaults. It will also help if you have amassed enough credit points. 

All these requirements are important considering the Kratom business is seen as a “high-risk” venture by banks and credit card processors. The unexpected difficulties with selling Kratom online also means banks need some form of ”insurance’ on all transactions.  

  • Payment of the Processing Fees 

Getting a fully functional Kratom business merchant account will require you to pay all the fees involved. The fees are contingent on several factors. That’s why you should first enquire about the fees charged by your merchant stronghold before you proceed with the application. 

Each Kratom merchant account is unique to the other. So, a case-to-case evaluation of the standard fee is perhaps the most viable way to look at the standard fees. Here are the fees to expect for a regular kratom merchant account,  

  • Merchant discount rate 
  • Per transaction fee 
  • Monthly statement fees 
  • Chargeback fees 
  • Refund fees 

Also, note that credit card fees can vary, depending on the card and payment method you choose. To be safe, study all the Terms and Conditions on your application to understand the variations in fee payments. 

Approval for Kratom Merchant Account 

For getting an approved kratom merchant account, the banks will consider your details and follow particular criteria. Most account vendors will evaluate the following in addition to other submissions. 

  • Time duration of the business 
  • Your Personal history as a Kratom vendor 
  • Whether you have other merchant accounts. 




Benefits of a Merchant Account for Your Kratom Business 

A merchant account can help open your kratom business up to many opportunities and add value to your company in different ways like; 

  • Increased sales due to convenience in payments 
  • Better money management due to an organized payment system 
  • Your business is protected from the hassle and costs associated with bounced checks. 
  • A merchant account gives your customers the flexibility to make purchases differently. 

Bottom Line 

Various payment solutions provide high-risk merchant accounts with varying requirements for online kratom vendors. You need a reputable payment solution to manage your high-risk merchant account solutions if you are a Kratom vendor.  


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