CannaPay is a cannabis business payment processing service provider. It solves the usual problems faced by the cannabis industry, which is that no bank would want to take a risk on them. They are forced to pay high processing fees just to process card and e-wallet payments.
The platform is easy to set up and integrate into existing business systems. CannaPay even has a point-of-sale (POS) system, device, and on-the-go mobile device to allow merchants to sell cannabis products anytime and anywhere. The first step is to sign up for the services and let the company program your dispensary’s POS system into the cannabis payment gateway.
Next, you can begin accepting debit and credit cards on your POS system or the mobile credit card swiper. You can see the funds in your account within 24 to 48 hours.
CannaPay already has five years of experience and thousands of satisfied customers. It boasts reliable on-site installation, convenience, comprehensive training, and 24/7 customer service.
The problem with most CBD businesses is they cannot accept credit card payments. CannaPay can set up bank accounts and merchant accounts for cannabis-based companies, so they can start processing card payments. The company is an accredited partner of Visa and Mastercard.
Cannabis is a high-risk business that will not get easy approval from traditional banks. Fortunately, CannaPay can process sales from start to finish. It is a convenient platform that allows CBD businesses to accept payments, transfer funds, and withdraw money.
Some customers prefer to have reloadable prepaid cards for future purchases. CannaPay empowers merchants to sell more through a prepaid scheme. The business will have earned from the load, regardless of whether the customers use the funds in the future. They can continue reloading the branded cards until they want.
CannaPay does not publish its fees, rates, and pricing. However, the company said it has no setup and early termination fees. It also allows for zero reserves.
There is no information about CannaPay’s additional fees.
CannaPay said it has no hidden fees.
There are no formal complaints filed against CannaPay.
There are no rip-off reports about CannaPay.
There are no other complaints about CannaPay.
CannaPay is not listed on the Better Business Bureau (BBB) website. Therefore, it has no rating and accreditation from the bureau. There are also no reviews or complaints about the company on the site. The BBB is an accrediting agency that rates businesses based in the United States, Canada, and Mexico. The highest rating it gives is A+ while the lowest is F.
Merchants and consumers like to check the BBB website because it proves the legitimacy of the website and company to them. However, remember that BBB is not the only bureau that accredits and rates companies, including payment processors.
Since CannaPay is not listed with the bureau, there are no reviews or complaints about the company on the bureau’s site.
Unfortunately, CannaPay does not have a strong presence on the internet. It only has a website but no profiles on major professional networking sites. It doesn’t have Facebook, LinkedIn, and Twitter pages. There is also no mention of the website in major online forums and review websites.
According to ScamAdviser, CannaPay’s website has a very low trust score. It gave the site a rating of 16/100, which means there is a “strong likelihood” that the website is a scam. The only positive highlights ScamAdviser noted about the website are the moneyback guarantee promise, valid SSL certificate, and the website’s age.
Otherwise, ScamAdviser flagged CannaPay’s site because of the following reasons:
There are no scam reports CannaPay. However, the website has a low trust rating, so users should be wary.
There are no lawsuits against CannaPay.
CannaPay does not have customer reviews on popular review sites and online forums. It is not usually mentioned on social media sites. Since it has no Facebook page, there are no reviews or recommendations on the social media giant. Google Reviews has zero information about CannaPay.
However, the company publishes client testimonials on the site. The testimonials came from CEOs of cannabis-based enterprises. Many of them lauded CannaPay for providing a platform for their customers’ payments to go through. They said that the company is filling a “big void” in the cannabis industry. Not many service providers will process payments for a cannabis-based business, but CannaPay can do it.
Another merchant said it is now easy to accept all types of payments from merchants. CannaPay became similar to any other retailer because of the varied payment options. It allowed for easier businesses transactions.
It is hard to recommend CannaPay when there isn’t much information about it on the internet. Merchants rely on the data they find about a certain payment processor. However, even with client testimonials about CannaPay, it’s hard to invite merchants to check it out. If you are going to inquire about the services, make sure to email directly and not use the form on the website because of possible modus.