Kava Merchant Account
March 8, 2023 | High Risk Merchant Account | Dustin
Originating from the Pacific Islands, the kava plant has now become popular all over the globe. Piper methysticum, also know as kava in mainstream culture, is commonly consumed as a drink produced from the roots of the plant.
Even though the World Health Organization has deemed kava as having an acceptably low level of health risk, it still has difficulty when it comes to regulations and payment processing. Because of this, entrepreneurs in the kava industry can have a difficult time securing a sustainable kava merchant account. Thankfully, there are ideal high risk merchant account providers, like PayKings, who can help.
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How To Get A Kava Merchant Account
So, why would it be difficult to get a kava merchant account if it is federally legal in the United States? Because there are still strict regulations on kava and kava products, banks and financial institutions continue to tread lightly.
When it comes to processing payments and accepting credit cards online and in retail stores, a bank or mainstream payment processor must be careful regardless of the industry. If an industry is considered high risk, these organizations act even more carefully and have additional requirements to make sure the merchant they support is operating completely legally.
About Kava Payment Processing
The growing popularity of kava is not unwarranted. Common effects from consuming kava drinks or kava powder is euphoria, assistance with sleep and even treatment of anxiety. As a result, entrepreneurs who would have originally defaulted to opening a coffee shop or cafe now consider opening kava shops and kava cafes instead.
Additionally, these business owners need to consider the differences in payment processing for a coffee shop vs kava shop. It is much easier to find standard credit card processing solutions if you are selling coffee. Those companies that sell kava need payment processing solutions for kava. Luckily, there are solutions out there and PayKings is one of them.
Growing Demand For Kava Merchant Accounts
There’s no arguing that the kava industry is here to stay and kava products are only continuing to grow. As a result of this growth, the demand for kava merchant accounts has also become high. However, because of high regulations and the perception of this substance from banks and regulatory bodies, obtaining a merchant account for a kava shop or to sell kava online can be uncertain.
Interestingly enough, one of the most popular areas for kava in the United States is said to be St. Petersburg, Florida. Downtown St. Pete happens to be where the headquarters of PayKings is located, so we took this as an opportunity to visit some local kava shops in the area to better understand this emerging industry.
Kava Shops in Florida
The stops on our tour of local kava shops in Florida included:
- Ohana Coffee Kava Tea (Largo, FL)
- Johnny Vapors Smokeshope & Kava Bar (St. Petersburg, FL)
- LowTide Kava Bar (Gulfport, FL)
- Mad Hatters Ethnobotanical Kava Bar (St. Petersburg, FL)
- Speakeasy Kava (Largo, FL)
Kava Store Owners Get Payment Processing
The experience and interactions with all of these local Florida kava shops was very positive. The communities were thriving, calm, and friendly spaces full of welcoming people. Many of the time, the owner of the kava tea shop was working. We were able to speak directly to them about their experiences with regulations as well as their kava payment processing needs.
The owner of Low Tide in Gulfport, Florida traveled to Washington years ago, when certain organizations were trying to make kava classified as a Schedule 1 drug. Low Tide’s CEO went on to say that almost 1,000 people joined him that day to object to the proposal and it eventually was not passed. As a result of efforts like this entrepreneur and other successful kava tea shop owners, kava is currently legal to consume in the United States and many other countries.
Types of Kava Products
There are various ways that the kava plant is processed and used for consumption. On top of these different types of kava products, there are also different levels of potency and quality that can be selected.
Below are several kava products that can be purchased online and in retail stores:
- Kava Tea
- Kava Root Powder
- Instant Kava
- Kava Tinctures
- Kava Concentrates
- Kavalactone Paste
- Wholesale Kava
- Kava Capsules
- Powdered Kava
- Kava Drinks
- Kava Blends
Strains of Kava
As with any plant, there are variations and strains of kava. Below is a quick breakdown of the differences between different kava strains:
- Red – Pain Relief, Calming, Relaxing
- Green – Energetic, Pain Relief, Euphoria
- White – Stimulating, Energetic, Uplifting
- Yellow – Euphoric, Light Pain Relief
Kava Payment Solutions With PayKings
Whether you own a kava store, are a kava wholesaler, or own an online kava shop, there are solutions. From payment terminals, to ACH or Echeck options and other standard forms of payment acceptance, PayKings can help get your business a high risk kava merchant account.
Call our experts at (727) 300 – 0277 today to get your kava payment processing established.
March 8, 2023 | High Risk Merchant Account | Dustin