Payment Methods When Buying Kratom
- April 1, 2020
In a world where money changes hands at the touch of a button, it can come as something of a shock to realize that when it comes to Kratom you may be told ‘Sorry, your money’s no good here’.
As frustrating as that is, it’s really not the company’s fault – most credit card companies and credit card processors simply won’t allow Kratom to be paid for via the ‘normal’ means because it falls under the ‘high risk’ category.
This doesn’t mean that the product itself is high risk, but more the specific industry, and it’s not confined to Kratom alone. In fact, there are many industries which fall under this umbrella, such as CBD, gambling, and electronic cigarettes, for instance, and many which you wouldn’t expect to see: ticket sales, online jewelry stores, dating sites, and even something as innocuous as travel services.
The main reason that these and similar industries are considered high risk is because they can come with a higher possibility of fraud, and while Kratom might not fall under that label, the ever-changing legal landscape which surrounds it makes credit card companies wary.
Likewise, PayPal is associated with strictly low-risk products and industries, so this and other payment platforms are also out of bounds for Kratom companies.
So, What Can You Do?
Well, it is time to explore a whole new world of finance, because the methods of payment for Kratom tend to be on the lesser-known (but no less valid) side, and while these methods might seem confusing, they are actually pretty simple to master and before long you will be an old hand. So let’s take a look at some of the methods which ARE available to the Kratom buyer.
Cryptocurrency – if you’ve had nothing to do with cryptocurrency up until now, it might seem like the stuff futuristic movies are made of, but in fact it is a very real and highly viable method of payment; in fact, it’s one of the favorites among Kratom vendors, and there are a few reasons for this:
Whereas banks have access to personal details as well as information about what was actually purchased, cryptocurrency only reveals the buyer’s name and shipping address, which gives it a much higher level of security and privacy.
In addition to this, the fees associated with accepting cryptocurrency are considerably lower than with other methods of payment, which is good news for both the vendor and the buyer – so much so, in fact, that many companies will offer a discount to customers who pay using this method.
eChecks – similar to traditional personal checks, eChecks work by taking money from the buyer’s account and depositing it into the vendor’s account via the ACH (automated clearing house). However, unlike cryptocurrency, there is a delay in the vendor receiving their money, which can take up to 9 business days to clear.
Money Order – money orders can be bought from post offices and many other places, but they must be paid for upfront; the buyer hands over the specified sum, and is issued with the money order to the same amount, which they can then use to buy their goods. This upfront payment makes it a more trusted method than, say, a regular check, and a faster way of receiving payment than eChecks.
The takeaway from this is that the decision not to accept credit cards as payment for Kratom comes not from the company you are buying from, such as Sacred Kratom. If truth be told they would love the convenience of credit card payments – but from the credit card companies themselves. But cryptocurrency is easy to master once you begin to look into it, and that effort may just earn you a nice discount from your favorite vendor. However, if you don’t fancy checking out this method, the other ways mentioned above are just as valid, and will become second nature to you in no time at all.