Denver, Colorado

1550 Larimer Street. 80202

(818) 850-1034

Email: sales@kjproweb.com

Mon - Fri: 9:00 - 17:30

Online store always open

Crypto-To-Fiat Conversion

Launch Date: August 1, 2021
Visa & MasterCard credit card acceptance utilizing the blockchain.

Your customers can pay through your website or in a retail store using Visa or MasterCard.

  • Step One: Website visitors select products to ‘add-to-cart’ and checkout. Sell any legal product or service; kratom, Delta-8 THC (high THC gladly accepted), cannabis (MMJ), vape kits, CBD edibles, bath bombs and salts, recreational paraphernalia, and more.
 
  • Step Two: Customers make payment using a traditional credit card or debit card. *Only Visa and MasterCard are currently accepted.
 

How Can This Be Done Legally? At the point-of-sale the buyer is informed they are purchasing a non-refundable crypto-token.

Furthermore, the customer will understand that within seconds of submitting payment, our blockchain network will convert that USD Coin (stable coin) into US dollars for settlement into the merchant’s bank account. Transactions are completed in less than 60 seconds.

Transactions are fully compliant with AML/BSA and FinCen legal requirements and KYCC (know your customers’ customer) legal mandates.

KJ PROWEB online payments credit card dispensary
Kratom | Cannabis-MMJ | Seed | Delta 8/9 | Nutraceuticals
before you buy kratom2
Kratom, Medical Marijiana (MMJ), Marijuana Seed & Industrial Hemp Seed

Acceptable Products: Delta-8 THC, Kratom, Hemp Flower, Pre-rolls, MMJ Seed, CRB's & MRB's, CBD & Paraphernalia

Website & Retail Store Transactions

Supported In Over 200 Countries

How It Works

mastercard and visa kj proweb

STEP ONE

Website visitors make payment at checkout using a Visa or MasterCard.*Other card brands not accepted at this time.

website compliance guidelines

STEP TWO

During the checkout process, the customer is actually purchasing a crypto-token. Within seconds, the token is automatically converted into US dollars, allowing settlement of funds within 24 hours.

VIRTUAL TOKEN SERVICE (VTS)
Created by Visa Corporation

Virtual Token Service (VTS) is an enhanced payment processing technology developed by Visa and MasterCard.  VTS essentially replaces sensitive debit or credit card numbers and cardholder data with a unique identification code called a ‘token,’ which is used during a digital transaction. 

Online transactions are therefore more secure, faster, and more efficient because the customer’s card data and personal information no longer needs to be exposed to security risks during the sales process.

Wait. There’s more. 

  1. Virtual Token Service when bundled together with crypto-conversion technology completely revolutionizes the payment acceptance space. Here’s how.
  2. A virtual security token is a digital representation of monetary value that can be digitally traded and functions as a medium of exchange, unit of account, or stored value. This means, a customer can legally purchase cannabis, delta-8 THC, kratom and a wide variety of other products using a credit card because they’ve actually purchased a virtual secure token/digital crypto-token, not the federally regulated merchandise.
  3. The VTS digital token is electronically converted into US dollars during the transaction process for settlement into the merchant’s bank account.

Crypto-to-fiat currency settlement allows for unprecedented speed in cash settlements to merchants, thus giving merchants financial liquidity needed to grow their business faster, especially when working with international suppliers, factories and drop-ship partners.

Supported Countries

Algeria, Argentina, Australia, Austria, Belarus, Belgium, Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Cyprus, Czech Republic, Denmark, Dominican Republic, Estonia, Finland, France, Germany, Greece, France, Hong Kong, Iceland, India, Indonesia, Israel, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Malaysia, Mexico, Nepal, The Netherlands, New Zealand, Norway, Paraguay, Peru, Philippines, Poland, Portugal, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Sweden, Switzerland, Tanzania, Thailand, Turkey, Vietnam

woocommerce global payments payment form
In a nutshell, Virtual Token Service replaces sensitive account holder details with a unique and temporary token for online, in-store and in-app purchases. VTS encrypts and protects cardholder data, merchants and issuers alike.

Rates & Fees

Sell Online | eCommerce 

  • 8.99% plus a $0.35¢ transaction fee.

 

Selling From a Retail Storefront

  • 7.99% plus a $1.50¢ transaction fee.

 

$29.00 monthly recurring support fee

Approval Time: Three business days

Funds must settle into a USA domestic bank.

  • Online sellers must be on WooCommerce + WordPress.
  • 24-hour settlement of funds.
  • Unlimited daily, weekly, and monthly processing volume.
  • No rolling reserve hold on funds.
  • International merchants gladly accepted.

Required Documentation Checklist

Applications WILL NOT be processed until all required documents are submitted.

  1. Completed and sign the White-label Merchant Application and FinCEN Beneficial Owner Form.
  2. Email to us clear color copies of the following documents;
    • Articles of Incorporation, LLC or corporate registration paperwork.
    • The corporate registration paperwork must identify the list Directors & Majority Shareholders, and show the percentage of company ownership, and provide contact details – full name, email address and phone of each owner.
    • Notarized/stamped copy of a Fictitious Business Name statement (if applicable)

 

Required Supporting Documents:

    • Bank Letter or voided check confirming your corporate bank account. (The depository institution must be a USA-based bank).
    • Most recent 6 months of company credit card processing statements (if applicable) or present a Business Plan if the applicant is a brand new business entity.
    • Proof EIN letter from the Internal Revenue Service (IRS). SS4 Form.
    • Copy of a Utility bill as proof of a physical address – must match the exact address on  the bank account.
    • 3 month’s of business bank statements – not just summary pages. If the applicant is a brand new startup, 3 months of personal bank statements from the owner will suffice. 
  1. Verification of I.D.
    • Owner(s) valid travel passport, driver’s license or government issued ID – (full color photo). *From each company owner.
  2. Proof of URL Domain Ownership. Send in a copy of the purchase receipt or similar proof.
  3. Corporate Terms & Conditions: Required of Cannabis/MMJ Dispensaries 
    1. List of states in which company operates
    2. Licenses for states in which company operates
    3. List of prohibited states in which the customer is not allowed to conduct business
  4. Product Documentation: 
    • Submit copies of independent laboratory Certificates of Analysis (COAs) for all CBD/hemp products sold.
    • Submit a laboratory COA from the manufacturer who suppies your their Kratom products from (if applicable).
  5. Sign and return the Pre-qualification Merchant Application Form